Coding Support and Resistance

• 02/28/2020 at 2:15 PM #120757
  Francesco

  I asked in the past if it was possible to consider the ProRealTrend automatic detections but seems it’s not.

  Considering that, is there a way to code support and resistance in general for the charts? Or at least something similar to these “hot zones” for the prices?

  It could be helpful for the development of the strategies, especially for forex.

  

  Francesco

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  02/28/2020 at 2:31 PM #120759
  nonetheless

  A Donchian channel can work well for that:

  //Donchian Channel Upper = HIGHEST[10](HIGH[1]) Lower = LOWEST[10](LOW[1]) Middle = (Upper + Lower) / 2 c1 = close > Upper//breakout above resistance c2 = close < Lower//breakdown below support

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  //Donchian Channel Upper = HIGHEST[10](HIGH[1]) Lower = LOWEST[10](LOW[1]) Middle = (Upper + Lower) / 2 c1 = close > Upper//breakout above resistance c2 = close < Lower//breakdown below support

  Adjust the number for how many bars to look back

  

  nonetheless

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  02/28/2020 at 2:47 PM #120760
  Nicolas

  Please describe how to find those support and resistance zones, you should start from the beginning.. 🙂

  

  Nicolas

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  02/28/2020 at 2:57 PM #120761
  nonetheless

  Nicolas wrote:

  you should start from the beginning

  July 8th, 1932 the Dow closed at 41.22 – that’s a pretty safe support level. I’ll start to get worried if we fall below that.
  

  

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  02/28/2020 at 3:03 PM #120762
  robertogozzi

  Try this https://www.prorealcode.com/prorealtime-market-screeners/pivot-support-resistance-screener/

   

  

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  02/28/2020 at 3:19 PM #120763
  GraHal

  nonetheless wrote:

  that’s a pretty safe support level

  I reckon we may see the DJI around 23,500 as a floor before we start to go back up again?

  

  GraHal

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  02/28/2020 at 3:31 PM #120764
  nonetheless

  Yeah could be … there’s a rising trend line at around 24,000, but still, takes a brave man to call it. I’ve got my stoploss at the 1932 low, so I know I’m safe. 😉

  (nice bounce at the opening bell today, maybe it’s up from here?)

  

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  02/28/2020 at 3:40 PM #120765
  Nicolas

  That recent example is a great start: https://www.prorealcode.com/topic/array-variables-availability-in-prorealtime/#post-118817

  Various support and resistance posts:

  https://www.prorealcode.com/tag/support-and-resistance/

   

  

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  02/28/2020 at 3:41 PM #120766
  GraHal

  nonetheless wrote:

  maybe it’s up from here?)

  Most likely a sucker’s rally just like the same price action in the last few days between 2:30 and 3:00 ish? i

  

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  02/28/2020 at 5:42 PM #120786
  Francesco

  First of all, thanks all of you for the contibutions and the participatory spirit. That always remind me how beautiful this community is.

  Coming back to the topic, i was talking about something very “dynamic”: the price touches n times a x wide zone (number of touches and width of the zone to be optimized for the specific timeframes of reference). Then the system “knows” that the n times touched and x wide zone is a support/resistance and i can operate on that.
  The VERY PROBLEM with this idea is that could be very difficult to coding the spot of the obliques s/r, because of the inability to find a common price touch area.

  I will read your guys topics and indicators suggestions as soon as possible, maybe i will find something also more interesting than this basic idea 🙂

  

  Francesco

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  02/28/2020 at 5:51 PM #120787
  Francesco

  To be considered over n and x, in a y number of last bars/time in order to “reset” support and resistance levels when a breakout occurs.

  

  Francesco

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  02/28/2020 at 6:04 PM #120791
  robertogozzi

  Try also this https://www.prorealcode.com/topic/simple-3-test-breakout/#post-120063

   

  

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  02/28/2020 at 7:43 PM #120814
  Francesco

  Thanks, i will study all the cases and try to develope the strategy I have in mind.
  If someone has more hints it’s welcome 🙂

  

  Francesco

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  03/01/2020 at 6:11 PM #120903
  Nicolas

  I think that one was great: https://www.prorealcode.com/prorealtime-indicators/zigzag-supdem-supply-and-demand-zones/

  But you’ll have to change the zigzag indicator to something else to be able to use the code in ProOrder. I heard that zigzag would be usable in the future but i’m not sure if it is in the pipe or not.

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  Francesco

  

  Nicolas

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  03/02/2020 at 4:34 PM #120982
  Francesco

  Here’s a first try on NIKKEI 15M. Not so bad also on robustness test, put it on demo test.

  defparam cumulateorders = false once longtrading=1 once shorttrading=0 // Robustness Tester once j = 0 once flag = 1 if flag = 1 then j = j + 1 if j > qty then flag = -1 j = j - 1 endif endif if flag = -1 then j = j - 1 if j = 0 then j = j + random flag = 1 endif endif tradeon = 1 if opendate >= 20000101 then if barindex mod qty = 0 or barindex mod qty = j then tradeon = 1 endif endif // General Settings EMA1 = exponentialaverage[10](close) EMA2 = exponentialaverage[70](close) bullish = close>EMA1 and close>EMA2 and EMA1>EMA2 EMA1 = exponentialaverage[10](close) EMA2 = exponentialaverage[70](close) bearish = close<EMA1 and close<EMA2 and EMA1<EMA2 // Strategy Settings f = 10 c1=high[f] >= highest[(f)*2+1](high) c2=low[f] <= lowest[(f)*2+1](low) if longtrading then // Long if bullish and tradeon then if c2 then buy 1 contracts at market endif endif endif if shorttrading then // Short if bearish and tradeon then if c1 then sellshort 1 contracts at market endif endif endif // Stops and Targets set stop loss 100 set target profit 350 // Breakeven StartBreakeven = 100 PointsToKeep = 25 if not onmarket then BreakevenLevel=0 endif // Breakeven Long if longonmarket and close-tradeprice(1)>=startBreakeven*pipsize then BreakevenLevel = tradeprice(1)+PointsToKeep*pipsize endif if BreakevenLevel>0 then sell at BreakevenLevel stop endif // Breakeven Short if shortonmarket and tradeprice(1)-close>startBreakeven*pipsize then BreakevenLevel = tradeprice(1)-PointsToKeep*pipsize endif if BreakevenLevel>0 then exitshort at BreakevenLevel stop endif

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  defparam cumulateorders = false   once longtrading=1 once shorttrading=0   // Robustness Tester once j = 0 once flag = 1   if flag = 1 then j = j + 1 if j > qty then flag = -1 j = j - 1 endif endif   if flag = -1 then j = j - 1 if j = 0 then j = j + random flag = 1 endif endif   tradeon = 1 if opendate >= 20000101 then if barindex mod qty = 0 or barindex mod qty = j then tradeon = 1 endif endif   // General Settings EMA1 = exponentialaverage[10](close) EMA2 = exponentialaverage[70](close) bullish = close>EMA1 and close>EMA2 and EMA1>EMA2   EMA1 = exponentialaverage[10](close) EMA2 = exponentialaverage[70](close) bearish = close<EMA1 and close<EMA2 and EMA1<EMA2   // Strategy Settings f = 10 c1=high[f] >= highest[(f)*2+1](high) c2=low[f] <= lowest[(f)*2+1](low)   if longtrading then // Long if bullish and tradeon then if c2 then buy 1 contracts at market endif endif endif   if shorttrading then // Short if bearish and tradeon then if c1 then sellshort 1 contracts at market endif endif endif   // Stops and Targets set stop loss 100 set target profit 350   // Breakeven StartBreakeven = 100 PointsToKeep = 25   if not onmarket then BreakevenLevel=0 endif   // Breakeven Long if longonmarket and close-tradeprice(1)>=startBreakeven*pipsize then BreakevenLevel = tradeprice(1)+PointsToKeep*pipsize endif   if BreakevenLevel>0 then sell at BreakevenLevel stop endif   // Breakeven Short if shortonmarket and tradeprice(1)-close>startBreakeven*pipsize then BreakevenLevel = tradeprice(1)-PointsToKeep*pipsize endif   if BreakevenLevel>0 then exitshort at BreakevenLevel stop endif

   

  

  Francesco

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