Draw support line until it is broken by subsequent price action

• 10/17/2022 at 12:13 PM #202677
  nils_k

  Dear Members of the Forum,

  I want to draw a support line on the lowest low of an umbrella line (significant candle in hammer and hanging man patterns).
  My code so far is:

  REM Measure the length of real body, lower shadow, and upper shadow for white and black candles IF OPEN < CLOSE THEN REM white candle realbody = CLOSE - OPEN lowershadow = OPEN - LOW uppershadow = HIGH - CLOSE ELSIF OPEN > CLOSE THEN REM black candle realbody = OPEN - CLOSE lowershadow = CLOSE - LOW uppershadow = HIGH - OPEN ENDIF REM Draw support IF ((lowershadow / realbody) >= 2 AND (realbody/uppershadow) >= 2) AND NOT(OPEN = CLOSE) THEN DRAWSEGMENT(BARINDEX, LOW, BARINDEX+10,LOW) COLOURED(0,255,0) ENDIF RETURN

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  REM Measure the length of real body, lower shadow, and upper shadow for white and black candles IF OPEN < CLOSE THEN REM white candle realbody = CLOSE - OPEN lowershadow = OPEN - LOW uppershadow = HIGH - CLOSE ELSIF OPEN > CLOSE THEN REM black candle realbody = OPEN - CLOSE lowershadow = CLOSE - LOW uppershadow = HIGH - OPEN ENDIF   REM Draw support IF ((lowershadow / realbody) >= 2 AND (realbody/uppershadow) >= 2) AND NOT(OPEN = CLOSE) THEN DRAWSEGMENT(BARINDEX, LOW, BARINDEX+10,LOW) COLOURED(0,255,0) ENDIF   RETURN

  In the code above I have hardcoded the length of the support line as being 10 bars long, ideally I would like the length of the line to be determined by subsequent price action breaking it.
  That is, if a subsequent candle’s low is below the line, then, and only then, the line should end.

  Does andybody know how this can be done? If the solution involves arrays, I would be happy if you could also provide some code showing how this would work in this case, since I have tried it but couldn’t wrap my head around it.

  I thank you in advance!

  Greetings,
  Nils

  

  nils_k

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  10/17/2022 at 12:54 PM #202686
  Nicolas

  Yes it would involves arrays, much better and faster to check an array than to loop the whole history on each candle.. anyway, I’ll try something.

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  Nicolas

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  10/17/2022 at 1:10 PM #202688
  Nicolas

  Please find below a rough solution that work ok to me. Please confirm 😉

  defparam drawonlastbaronly=true REM Measure the length of real body, lower shadow, and upper shadow for white and black candles IF OPEN < CLOSE THEN REM white candle realbody = CLOSE - OPEN lowershadow = OPEN - LOW uppershadow = HIGH - CLOSE ELSIF OPEN > CLOSE THEN REM black candle realbody = OPEN - CLOSE lowershadow = CLOSE - LOW uppershadow = HIGH - OPEN ENDIF REM Store support IF ((lowershadow / realbody) >= 2 AND (realbody/uppershadow) >= 2) AND NOT(OPEN = CLOSE) THEN $support[i]=low $bar[i]=barindex i=i+1 ENDIF REM check support line if islastbarupdate and i>1 then for j = 0 to i-1 checklow = $support[j] bars = max(1,barindex-$bar[j]) check=0 for z = 1 to bars if low[z]<checklow then check=1 break endif next if check=0 then drawray($bar[j],$support[j],barindex,$support[j]) coloured(0,255,0) endif next endif RETURN

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  defparam drawonlastbaronly=true   REM Measure the length of real body, lower shadow, and upper shadow for white and black candles IF OPEN < CLOSE THEN REM white candle realbody = CLOSE - OPEN lowershadow = OPEN - LOW uppershadow = HIGH - CLOSE ELSIF OPEN > CLOSE THEN REM black candle realbody = OPEN - CLOSE lowershadow = CLOSE - LOW uppershadow = HIGH - OPEN ENDIF   REM Store support IF ((lowershadow / realbody) >= 2 AND (realbody/uppershadow) >= 2) AND NOT(OPEN = CLOSE) THEN $support[i]=low $bar[i]=barindex i=i+1 ENDIF   REM check support line if islastbarupdate and i>1 then for j = 0 to i-1   checklow = $support[j]   bars = max(1,barindex-$bar[j])   check=0   for z = 1 to bars    if low[z]<checklow then      check=1      break    endif next   if check=0 then    drawray($bar[j],$support[j],barindex,$support[j]) coloured(0,255,0)   endif   next endif     RETURN

   

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  Nicolas

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  10/17/2022 at 1:31 PM #202693
  nils_k

  Dear Nicolas,

  Thank you so much for your fast response.

  The code does draw support lines if the price action has not been broken (as rays starting from the umbrella line’s lows). What it does not, is draw the support lines that have been broken (until they are broken; likely via DRAWSEGMENT).
  I attached two screenshots. All umbrella lines are highlighted with a grey background. The first screenshot shows the result of your code, the second one shows where support lines should be drawn as well (I just put them in by hand).

  I hope there is a solution for this. Thank you again for helping me with this!

  Greetings,
  Nils

  

  nils_k

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  10/17/2022 at 2:34 PM #202702
  Nicolas

  Ok, that new version should be what you required:

  defparam drawonlastbaronly=true REM Measure the length of real body, lower shadow, and upper shadow for white and black candles IF OPEN < CLOSE THEN REM white candle realbody = CLOSE - OPEN lowershadow = OPEN - LOW uppershadow = HIGH - CLOSE ELSIF OPEN > CLOSE THEN REM black candle realbody = OPEN - CLOSE lowershadow = CLOSE - LOW uppershadow = HIGH - OPEN ENDIF REM Store support IF ((lowershadow / realbody) >= 2 AND (realbody/uppershadow) >= 2) AND NOT(OPEN = CLOSE) THEN $support[i]=low $bar[i]=barindex i=i+1 ENDIF REM check support line if islastbarupdate and i>1 then for j = 0 to i-1 checklow = $support[j] bars = max(1,barindex-$bar[j]) endbar=barindex for z = 1 to bars if low[z]<checklow then endbar=barindex[z] endif next if endbar<barindex then drawsegment($bar[j],$support[j],endbar,$support[j]) coloured(0,255,0) else drawray($bar[j],$support[j],barindex+1,$support[j]) coloured(0,255,0) endif next endif RETURN

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  defparam drawonlastbaronly=true   REM Measure the length of real body, lower shadow, and upper shadow for white and black candles IF OPEN < CLOSE THEN REM white candle realbody = CLOSE - OPEN lowershadow = OPEN - LOW uppershadow = HIGH - CLOSE ELSIF OPEN > CLOSE THEN REM black candle realbody = OPEN - CLOSE lowershadow = CLOSE - LOW uppershadow = HIGH - OPEN ENDIF   REM Store support IF ((lowershadow / realbody) >= 2 AND (realbody/uppershadow) >= 2) AND NOT(OPEN = CLOSE) THEN $support[i]=low $bar[i]=barindex i=i+1 ENDIF   REM check support line if islastbarupdate and i>1 then for j = 0 to i-1 checklow = $support[j] bars = max(1,barindex-$bar[j]) endbar=barindex for z = 1 to bars if low[z]<checklow then endbar=barindex[z] endif next if endbar<barindex then drawsegment($bar[j],$support[j],endbar,$support[j]) coloured(0,255,0) else drawray($bar[j],$support[j],barindex+1,$support[j]) coloured(0,255,0) endif next endif     RETURN

   

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  Nicolas

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  10/17/2022 at 2:38 PM #202705
  nils_k

  Dear Nicolas,

  Thank you so much! This works perfect. You are legendary.

  Greetings,
  Nils

  

  nils_k

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  02/04/2023 at 11:07 AM #209096
  bertrandpinoy

  Hello, thank you for this interesting topic. I have an error see PJ. Cordially.

  

  bertrandpinoy

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  02/20/2023 at 6:42 PM #209992
  Bel

  @Nicolas,

  won’t create new topic as it seems quite similar but would like to ask if creating something like you did here only to draw line from particular closing time, which we have an option to select, towards in time till it meets the session, which open and close time we also have an option to select, would involve arrays as well, or is there an easier way to go around it?

   

  Thank you.

  

  Bel

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