Horizontal supports/resistances or obliques trendlines?

• 12/04/2023 at 1:29 PM #224812
  LucasBest

  Which ones are more accurate (works the best for trading) : Horizontal supports/resistances or obliques trend lines?

  

  LucasBest

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  12/13/2023 at 4:42 PM #225234
  plbourse

  No idea from my actual point of view

  Horizontal resistance are relatively easy to detect as long as hey have not been crossed (i.e. I mean that they are being crossed with the actual candle) and despite the limit of history, with MTF I have developed a method that detects them during 200 weeks or slightly more on a daily chart. Interesting result, because I could integrate this detection in a screemer.

  Oblique trendlines are much more complicated and until now, all my attempts failed. Any hint or suggestion will be highly appreciated.

  Good trades and simulations to all.

  

  plbourse

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  12/13/2023 at 5:33 PM #225235
  LucasBest

  Oblique trendlines are not easy to detect…

  There is 2 ways :
  – First one is to use linear regression, but you need to know where the trend begin and where it ends…
  – Second strategy is to detect fractals or zigzag points and then calculate slopes between thoses points and try to found out if there is a trend or not…

  I made channels detection indicator with both ways and the second strategy seems to be the best. I still feel i can improve how it detect channels and also how it can be used for trading (which is the goal).

  You can find a lot of indicators based on trendlines on tradingview :
  https://www.tradingview.com/script/3nqRvntM-Trend-Lines-Pro/
  https://fr.tradingview.com/script/34t0EaMk-Trend-Channels-With-Liquidity-Breaks-ChartPrime/

  And there is also one on the market place.

  

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  12/24/2023 at 4:00 PM #225678
  WallStFoxy

  I guess it’s a personal thing in the end but in my view the answer is horizontal, whilst obliques always look good they are not predictable and so not reliable. For example most assets will range trade for a period, overnight for example so we can take overnight high / low horizontal S/R and look for a breakout to continue a trend or not. Also time frame S/R, in a trading session we we often see the horizontal S/R develop on our chosen timeframe such as m5 or m15 S/R I personally find this very useful. Just one thing to watch is the fake break especially at highs and lows. We should remember, just as breakout traders are looking for the breakout to entre a trade many others traders use them to identify a high to sell or a low to buy causing a fake break.

  

  WallStFoxy

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  01/12/2024 at 10:52 AM #226273
  ashehzi

  Check Trendline Regression on TV by https://www.tradingview.com/u/dandrideng/

  

  ashehzi

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