Minimum distance from Support or resistance

• 07/25/2022 at 10:02 AM #197890
  Stocks008

  Good day,

  I am trying to code an indicator that will take support and resistance into account. I am struggling with the minimum distance from support or resistance part. Let’s say the support or resistance will be given by the 30 SMA and 100 SMA. The indicator should only draw instruction if the support or resistance ( 30 and 100 averages) is further away than 10 points from the current candle’s open price. Is there a way to do this and always get a positive value in points?

  I hope I made enough sense in my question.

  Thank you,

  Kind Regards

  

  Stocks008

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  07/25/2022 at 10:13 AM #197892
  robertogozzi

  There you go:

  ONCE Distance = 10 * PipSize MySupport = average[30,0](close) MyResistance = average[100,0](close) Signal = 0 IF open >= (MySupport + Distance) THEN Signal = -1 ELSIF open <= (MyResistance - Distance) THEN Signal = 1 ENDIF RETURN Signal AS "Signal"

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  ONCE Distance = 10 * PipSize MySupport     = average[30,0](close) MyResistance  = average[100,0](close) Signal        = 0 IF open >= (MySupport + Distance) THEN    Signal = -1 ELSIF open <= (MyResistance - Distance) THEN    Signal = 1 ENDIF RETURN Signal AS "Signal"

   

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  Stocks008

  

  robertogozzi

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  07/25/2022 at 11:19 AM #197899
  Stocks008

  Thank you very much, I appreciate your help. 🙂

  

  Stocks008

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