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System for identifying and displaying effective support and resistance price levels for securities and commodities and methods of use

a technology of price level and securities, applied in the field of system for identifying and displaying effective support and resistance price levels for securities and commodities and methods of use, can solve the problems of gann's methods being questioned, the effectiveness of murrey's software tools for implementing his theories being in question, and the price of the security or commodity in question being prone to continue to fall

Inactive Publication Date: 2014-06-12
MILLETT MARTYN G
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  • Summary
  • Abstract
  • Description
  • Claims
  • Application Information

AI Technical Summary

Benefits of technology

The system effectively tracks price patterns over time, providing a unified model for price behavior that enhances trading decisions by identifying key support and resistance levels, improving prediction success rates and reducing reliance on historical analysis.

Problems solved by technology

The problems historically with this approach is (1) one must actually identify and understand such natural patterns, and (2) once identified, the data of such patterns must be effectively marshaled such that an interested user (such as a trader in securities such as stocks, bonds, etc. or in commodities) can use the data with relative ease and effectiveness.
Conversely, “resistance levels” are the opposite of “support levels” in that it can be observed that a given starting price of a security can approach a price level which almost acts as a limit and is very difficult to go above.
However, a price can nevertheless “break through” and go below a given support level, at which point the breached support level now becomes the new resistance level, and the price of the security or commodity in question will tend to continue to fall until a new support level is encountered.
Once again, the effectiveness of Gann's methods have been questioned within the industry.
Consequently, the effectiveness of the software tools created by Murrey to implement his theories remains in question.

Method used

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  • System for identifying and displaying effective support and resistance price levels for securities and commodities and methods of use
  • System for identifying and displaying effective support and resistance price levels for securities and commodities and methods of use
  • System for identifying and displaying effective support and resistance price levels for securities and commodities and methods of use

Examples

Experimental program
Comparison scheme
Effect test

first embodiment

Q-Card System

[0091]Because of the large volume of data to be compiled and considered by a system user, it would be impracticable for a user to attempt to manually use the algorithms described supra to assign pricing placements to track for selected securities or commodities and then identify the appropriate support and resistance Q-levels. Hence, the practical embodiments of the inventive disclosures herein necessarily need to incorporate the use of computing equipment, computer-readable mediums, and display devices (e.g., monitor screens, printers, etc.). Such a system may be a web-based system, where a system user interacts with the trading tool via some sort of client application on a remote computer, such as a web browser. The remote computer in such an embodiment can be a personal computer, a web-enabled mobile phone, or an interactive television system with connectivity to the Internet. In other embodiments, the system is a stand-alone personal computer or even a mobile phone ...

second embodiment

Q-Card System Validator of Other Technical-Indicator Systems

[0104]In another embodiment, the exemplary Q-Card System, as described in the First Embodiment, supra, (or similar system employing the same principles and base algorithms), can be used to validate and / or calibrate any of the many existing prior-art systems discussed in the Background section, supra. For example, a trader and practitioner of another prior-art solution that relies on historical pricing patterns or other less-than-scientific inputs could validate their system results against a Q-Card system whose pricing strata is unreliant on such things. Further, where inaccuracies in the prior-art system are identified by the Q-Card system, a trader can calibrate his or her prior-art system to help account for those inherent inaccuracies. Referring to FIG. 7, a system user places / selects a placement price on the Q-scale 101. Alternatively, the system user can instead rely on the system opening with a default placement or e...

third embodiment

A System for Supporting Trading Decisions

[0106]Referring to FIG. 6, this embodiment encompasses a system for supporting trading decisions for securities and / or commodities, comprising: a computing system 10; at least one display device 30 for presenting rendered data, the rendered data including support and resistance levels for the price of a user-identified security or commodity, and wherein the display device 30 can be any type of computer video monitor, mobile phone screen, television monitor, or printing device; an input device 40 for user interaction with the computing system 10; a physical memory 20 in the computing system 10; and a computer-readable medium 50 for use with the computing system 10, the computer-readable medium 50 comprising at least one program for identifying and displaying support and resistance levels for the price of a user-identified security or commodity, the at least one program capable of causing the computing system 10 to implement a process comprisin...

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PUM

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Abstract

The disclosure is directed generally to a system used to generate and display useful support and resistance levels, as derived from a given price of a security or commodity. The system incorporates a methodology to derive and display key price values, in actual currency units such as dollars and cents, to serve as support and resistance levels for the benefit of a user who in turn can better make buy and sell decisions for targeted securities and / or commodities.

Description

CROSS-REFERENCE TO RELATED APPLICATIONS[0001]This patent application is a Divisional application of, and claims the benefit of, U.S. patent application Ser. No. 12 / 755,168, filed on Apr. 6, 2010, and also claims the benefit of U.S. Patent Application No. 61 / 320,214, filed on Apr. 1, 2010. Each of U.S. patent application Ser. No. 12 / 755,168 and U.S. Patent Application No. 61 / 320,214 is hereby incorporated by reference for all purposes.BACKGROUND OF THE INVENTION[0002]Many believe that the behavior of economic and financial systems should be viewed like almost any other system of nature in that they can be tracked to follow relatively predictable mathematical patterns which can then be exploited by those who understand these natural phenomena. The problems historically with this approach is (1) one must actually identify and understand such natural patterns, and (2) once identified, the data of such patterns must be effectively marshaled such that an interested user (such as a trader ...

Claims

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Application Information

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Patent Type & Authority Applications(United States)
IPC IPC(8): G06Q40/04
CPCG06Q40/04
Inventor MILLETT, MARTYN G.
Owner MILLETT MARTYN G