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Tirone Levels are a series of horizontal lines that identify support and resistance levels. They were developed by John Tirone.
Tirone Levels can be drawn using either the Midpoint 1/3-2/3 methods or the Mean method. Both methods are intended to help you identify potential support and resistance levels based on the range of prices over a given time period.
It is primarily intended to aid in the visual inspection of price movements. They help you see the highest, lowest, and average price during a specified period.
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