1-2-3 Pivots Support and Resistance Lines On Any Indicator

• 01/23/2019 at 11:49 AM #89417
  Vonasi

  I made a modification to my 1-2-3 Pivots Support and Resistance Lines indicator that can be found here:

  https://www.prorealcode.com/prorealtime-indicators/1-2-3-pivots-support-and-resistance-lines/

  I’m not sure if it is a significant enough new version for a new library post so I will just post it here and add a link to the original indicators comments (unless Nicolas thinks it should be in the library?)

  This new version allows you to plot the support and resistance lines (and averages of them) that are based on the last three high and last three low points on to an indicator rather than onto price. Just change the indicator in line 18 to the indicator of your choice. In the example here it is a fast average of RSI[14] but if you want a different indicator then change it to MyIndicator = Stochastic[5,10] for example.

  Breakout of support and resistance lines by an indicator can indicate a change of direction or the start of a new trend. The slope of the lines can be used to spot divergence between an indicator and price. Hopefully this new version of my indicator will be useful to someone.

  Here is the ITF file:

  Pivots123-Sup-Res-On-Indicator

  

  …and the code:

  //Pivots123 Support and Resistance Lies On Indicator //By Vonasi //20190123 //DEFPARAM CalculateOnLastBars = 1000 //BarsAfter = 1 //BarsBefore = 1 //Pivots12 = 1 //Pivots13 = 1 //Pivots23 = 1 //Avg12 = 1 //Avg123 = 1 //Avg12Mid = 1 //Avg123 = 1 //Connected = 1 MyIndicator = exponentialaverage[5](RSI[14](customclose)) // Replace the indicator here with the indicator of your choice. BarLookBack = BarsAfter + 1 IF MyIndicator[BarsAfter] < lowest[BarsBefore](MyIndicator)[BarLookBack] THEN IF MyIndicator[BarsAfter] = lowest[BarLookBack](MyIndicator) THEN Support = MyIndicator[BarsAfter] ENDIF ENDIF IF MyIndicator[BarsAfter] > highest[BarsBefore](MyIndicator)[BarLookBack] THEN IF MyIndicator[BarsAfter] = highest[BarLookBack](MyIndicator) THEN Resistance = MyIndicator[BarsAfter] ENDIF ENDIF cr12 = 0 cr13 = 0 cr23 = 0 cs12 = 0 cs13 = 0 cs23 = 0 csave3 = 0 crave3 = 0 csave2 = 0 crave2 = 0 cave3mid = 0 cave2mid = 0 if pivots12 then cr12 = 255 cs12 = 255 endif if pivots13 then cr13 = 255 cs13 = 255 endif if pivots23 then cr23 = 255 cs23 = 255 endif if avg123 then crave3 = 255 csave3 = 255 endif if avg12 then crave2 = 255 csave2 = 255 endif if avg123mid then cave3mid = 255 endif if avg12mid then cave2mid = 255 endif if resistance <> resistance[1] then hi3 = hi2 hi2 = hi1 hi3index = hi2index hi2index = hi1index hi1 = MyIndicator[BarsAfter] hi1index = BarIndex[BarsAfter] if not connected then cr12 = 0 cr13 = 0 cr23 = 0 crave3 = 0 crave2 = 0 cave2mid = 0 cave3mid = 0 endif endif if support <> support[1] then lo3 = lo2 lo2 = lo1 lo3index = lo2index lo2index = lo1index lo1 = MyIndicator[BarsAfter] lo1index = BarIndex[BarsAfter] if not connected then cs12 = 0 cs13 = 0 cs23 = 0 csave3 = 0 csave2 = 0 cave2mid = 0 cave3mid = 0 endif endif //12 if hi2 > hi1 then nexthi12 = hi1 - (((hi2 - hi1) / (hi1index - hi2index)) * (barindex - hi1index)) endif if hi2 < hi1 then nexthi12 = hi1 + (((hi1 - hi2) / (hi1index - hi2index)) * (barindex - hi1index)) endif if lo2 > lo1 then nextlo12 = lo1 - (((lo2 - lo1) / (lo1index - lo2index)) * (barindex - lo1index)) endif if lo2 < lo1 then nextlo12 = lo1 + (((lo1 - lo2) / (lo1index - lo2index)) * (barindex - lo1index)) endif //13 if hi3 > hi1 then nexthi13 = hi1 - (((hi3 - hi1) / (hi1index - hi3index)) * (barindex - hi1index)) endif if hi3 < hi1 then nexthi13 = hi1 + (((hi1 - hi3) / (hi1index - hi3index)) * (barindex - hi1index)) endif if lo3 > lo1 then nextlo13 = lo1 - (((lo3 - lo1) / (lo1index - lo3index)) * (barindex - lo1index)) endif if lo3 < lo1 then nextlo13 = lo1 + (((lo1 - lo3) / (lo1index - lo3index)) * (barindex - lo1index)) endif //23 if hi3 > hi2 then nexthi23 = hi2 - (((hi3 - hi2) / (hi2index - hi3index)) * (barindex - hi1index)) endif if hi3 < hi2 then nexthi23 = hi2 + (((hi2 - hi3) / (hi2index - hi3index)) * (barindex - hi1index)) endif if lo3 > lo2 then nextlo23 = lo2 - (((lo3 - lo2) / (lo2index - lo3index)) * (barindex - lo1index)) endif if lo3 < lo2 then nextlo23 = lo2 + (((lo2 - lo3) / (lo2index - lo3index)) * (barindex - lo1index)) endif nextloave3 = (nextlo12 + nextlo13 + nextlo23)/3 nexthiave3 = (nexthi12 + nexthi13 + nexthi23)/3 nextloave2 = (nextlo12 + nextlo13)/2 nexthiave2 = (nexthi12 + nexthi13)/2 ave123mid = (nexthiave3 + nextloave3)/2 ave12mid = (nexthiave2 + nextloave2)/2 RETURN nexthi12 coloured(0,128,0,cr12) style(line,1) as "Resistance12", nextlo12 coloured (128,0,0,cs12) style(line,1) as "Support12", nexthi13 coloured(0,128,0,cr13) style(line,1) as "Resistance13", nextlo13 coloured (128,0,0,cs13) style(line,1) as "Support13", nexthi23 coloured(0,128,0,cr23) style(line,1) as "Resistance23", nextlo23 coloured (128,0,0,cs23) style(line,1) as "Support23", nexthiave3 coloured(0,128,0,crave3) style(line,1) as "Resistance Average 1-2-3", nextloave3 coloured (128,0,0,csave3) style(line,1) as "Support Average 1-2-3", nexthiave2 coloured(0,128,0,crave2) style(line,1) as "Resistance Average 1-2", nextloave2 coloured (128,0,0,csave2) style(line,1) as "Support Average 1-2", ave123mid coloured (0,0,255,cave3mid) style(line,1) as "Average Mid 1-2-3", ave12mid coloured (0,0,255,cave2mid) style(line,1) as "Average Mid 1-2", MyIndicator style(line,2) as "My Indicator"

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  //Pivots123 Support and Resistance Lies On Indicator //By Vonasi //20190123   //DEFPARAM CalculateOnLastBars = 1000   //BarsAfter = 1 //BarsBefore = 1 //Pivots12 = 1 //Pivots13 = 1 //Pivots23 = 1 //Avg12 = 1 //Avg123 = 1 //Avg12Mid = 1 //Avg123 = 1 //Connected = 1   MyIndicator = exponentialaverage[5](RSI[14](customclose)) // Replace the indicator here with the indicator of your choice.            BarLookBack  = BarsAfter + 1 IF MyIndicator[BarsAfter] < lowest[BarsBefore](MyIndicator)[BarLookBack] THEN IF MyIndicator[BarsAfter] = lowest[BarLookBack](MyIndicator) THEN Support  = MyIndicator[BarsAfter] ENDIF ENDIF IF MyIndicator[BarsAfter] > highest[BarsBefore](MyIndicator)[BarLookBack] THEN IF MyIndicator[BarsAfter] = highest[BarLookBack](MyIndicator) THEN Resistance = MyIndicator[BarsAfter] ENDIF ENDIF   cr12 = 0 cr13 = 0 cr23 = 0 cs12 = 0 cs13 = 0 cs23 = 0 csave3 = 0 crave3 = 0 csave2 = 0 crave2 = 0 cave3mid = 0 cave2mid = 0   if pivots12 then cr12 = 255 cs12 = 255 endif   if pivots13 then cr13 = 255 cs13 = 255 endif   if pivots23 then cr23 = 255 cs23 = 255 endif   if avg123 then crave3 = 255 csave3 = 255 endif   if avg12 then crave2 = 255 csave2 = 255 endif   if avg123mid then cave3mid = 255 endif   if avg12mid then cave2mid = 255 endif   if resistance <> resistance[1] then hi3 = hi2 hi2 = hi1 hi3index = hi2index hi2index = hi1index hi1 = MyIndicator[BarsAfter] hi1index = BarIndex[BarsAfter]   if not connected then cr12 = 0 cr13 = 0 cr23 = 0 crave3 = 0 crave2 = 0 cave2mid = 0 cave3mid = 0 endif endif   if support <> support[1] then lo3 = lo2 lo2 = lo1 lo3index = lo2index lo2index = lo1index lo1 = MyIndicator[BarsAfter] lo1index = BarIndex[BarsAfter]   if not connected then cs12 = 0 cs13 = 0 cs23 = 0 csave3 = 0 csave2 = 0 cave2mid = 0 cave3mid = 0 endif endif   //12 if hi2 > hi1 then nexthi12 = hi1 - (((hi2 - hi1) / (hi1index - hi2index)) * (barindex - hi1index)) endif   if hi2 < hi1 then nexthi12 = hi1 + (((hi1 - hi2) / (hi1index - hi2index)) * (barindex - hi1index)) endif   if lo2 > lo1 then nextlo12 = lo1 - (((lo2 - lo1) / (lo1index - lo2index)) * (barindex - lo1index)) endif   if lo2 < lo1 then nextlo12 = lo1 + (((lo1 - lo2) / (lo1index - lo2index)) * (barindex - lo1index)) endif   //13 if hi3 > hi1 then nexthi13 = hi1 - (((hi3 - hi1) / (hi1index - hi3index)) * (barindex - hi1index)) endif   if hi3 < hi1 then nexthi13 = hi1 + (((hi1 - hi3) / (hi1index - hi3index)) * (barindex - hi1index)) endif   if lo3 > lo1 then nextlo13 = lo1 - (((lo3 - lo1) / (lo1index - lo3index)) * (barindex - lo1index)) endif   if lo3 < lo1 then nextlo13 = lo1 + (((lo1 - lo3) / (lo1index - lo3index)) * (barindex - lo1index)) endif   //23 if hi3 > hi2 then nexthi23 = hi2 - (((hi3 - hi2) / (hi2index - hi3index)) * (barindex - hi1index)) endif   if hi3 < hi2 then nexthi23 = hi2 + (((hi2 - hi3) / (hi2index - hi3index)) * (barindex - hi1index)) endif   if lo3 > lo2 then nextlo23 = lo2 - (((lo3 - lo2) / (lo2index - lo3index)) * (barindex - lo1index)) endif   if lo3 < lo2 then nextlo23 = lo2 + (((lo2 - lo3) / (lo2index - lo3index)) * (barindex - lo1index)) endif   nextloave3 = (nextlo12 + nextlo13 + nextlo23)/3 nexthiave3 = (nexthi12 + nexthi13 + nexthi23)/3 nextloave2 = (nextlo12 + nextlo13)/2 nexthiave2 = (nexthi12 + nexthi13)/2 ave123mid = (nexthiave3 + nextloave3)/2 ave12mid = (nexthiave2 + nextloave2)/2   RETURN nexthi12 coloured(0,128,0,cr12) style(line,1) as "Resistance12", nextlo12 coloured (128,0,0,cs12) style(line,1) as "Support12", nexthi13 coloured(0,128,0,cr13) style(line,1) as "Resistance13", nextlo13 coloured (128,0,0,cs13) style(line,1) as "Support13", nexthi23 coloured(0,128,0,cr23) style(line,1) as "Resistance23", nextlo23 coloured (128,0,0,cs23) style(line,1) as "Support23", nexthiave3 coloured(0,128,0,crave3) style(line,1) as "Resistance Average 1-2-3", nextloave3 coloured (128,0,0,csave3) style(line,1) as "Support Average 1-2-3", nexthiave2 coloured(0,128,0,crave2) style(line,1) as "Resistance Average 1-2", nextloave2 coloured (128,0,0,csave2) style(line,1) as "Support Average 1-2", ave123mid coloured (0,0,255,cave3mid) style(line,1) as "Average Mid 1-2-3", ave12mid coloured (0,0,255,cave2mid) style(line,1) as "Average Mid 1-2", MyIndicator style(line,2) as "My Indicator"

   

  

  Vonasi

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  01/23/2019 at 1:36 PM #89430
  Nicolas

  It is a separated new indicator and a fresh idea, well done. I think that it deserves to go into the library too 🙂

  

  Nicolas

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  02/18/2021 at 10:59 AM #161903
  ggrouping

  Hi,

  I download the itf file as a pdf. May i know how to resolve this?

   

  

  ggrouping

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  02/18/2021 at 11:38 AM #161908
  robertogozzi

  I can download it as a regular ITF file.

  You might have mistakingly set ITF files to be opened with Acrobat Reader.

  Go to your settings and change the default APP/Program to open those files.

   

  

  robertogozzi

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