Support/Resistance for all timeframes

• 12/06/2018 at 12:22 PM #86430
  Friend

  Hello Nicolas and others,
  Is it possible to make an indicator that does the following on all timeframes.
  At a price bar preceded by 4 higher lows and followed by 2 higher lows, then display a green support line. It starts at the lowest low and stops until the line is later crossed or when a new support is formed later.

  The same for a red resistance line at a price bar with 4 lower Highs before and followed by 2 lower Highs.

  The 4 or 2 lower/higher bars do not have to have an order, the only criterion is lower / higher

  I hope you can help me, it turned out to be an excellent help in my previous software.

  

  Friend

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  12/06/2018 at 3:19 PM #86442
  Nicolas

  The lower highs or higher lows don’t have to be consecutive? If I understand well how they are plotted on your example.

  

  Nicolas

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  12/06/2018 at 4:58 PM #86460
  Friend

  Yes, Nicolas, that’s right. They don’t have to be consecutive lower or higher. Only higher or lower.

  

  Friend

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  12/07/2018 at 11:47 AM #86502
  robertogozzi

  There you go:

  DEFPARAM CalculateOnLastBars = 1000 //DEFPARAM DrawOnLastBarOnly = true PivotBAR = 2 //2 bars AFTER pivot LookBack = 4 //3 bars BEFORE pivot BarLookBack = PivotBAR + 1 IF low[PivotBAR] < lowest[LookBack](low)[BarLookBack] THEN IF low[PivotBAR] = lowest[BarLookBack](low) THEN MySupport = BarIndex - PivotBAR SupportPrice = low[PivotBAR] ENDIF ENDIF IF high[PivotBAR] > highest[LookBack](high)[BarLookBack] THEN IF high[PivotBAR] = highest[BarLookBack](high) THEN MyResistance = BarIndex - PivotBAR ResistancePrice = high[PivotBAR]//high[BarIndex - MyResistance] ENDIF ENDIF DRAWSEGMENT(MyResistance,ResistancePrice,BarIndex,ResistancePrice) COLOURED(255,0,0,255) DRAWSEGMENT(MySupport,SupportPrice,BarIndex,SupportPrice) COLOURED(0,128,0,255) RETURN

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  DEFPARAM CalculateOnLastBars = 1000 //DEFPARAM DrawOnLastBarOnly   = true PivotBAR     = 2                      //2  bars AFTER  pivot LookBack     = 4                      //3  bars BEFORE pivot BarLookBack  = PivotBAR + 1 IF low[PivotBAR] < lowest[LookBack](low)[BarLookBack] THEN    IF low[PivotBAR] = lowest[BarLookBack](low) THEN       MySupport     = BarIndex - PivotBAR       SupportPrice  = low[PivotBAR]    ENDIF ENDIF IF high[PivotBAR] > highest[LookBack](high)[BarLookBack] THEN    IF high[PivotBAR]  = highest[BarLookBack](high) THEN       MyResistance    = BarIndex - PivotBAR       ResistancePrice = high[PivotBAR]//high[BarIndex - MyResistance]    ENDIF ENDIF DRAWSEGMENT(MyResistance,ResistancePrice,BarIndex,ResistancePrice) COLOURED(255,0,0,255) DRAWSEGMENT(MySupport,SupportPrice,BarIndex,SupportPrice) COLOURED(0,128,0,255) RETURN

  Pic X1 shows the outcome.

  If you prefer pic X2 just uncomment line 2.

   

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  robertogozzi

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  12/07/2018 at 12:18 PM #86510
  Friend

  Thank you very much, Mr. Roberto Gozzi !!!
  This looks great!
  Very helpful for me, and maybe for others too.

  

  Friend

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  05/02/2019 at 11:36 AM #97520
  pableitor

  Hi, would it be possible to extend the drawing of  support/resistance lines not just  until the next pivot but for a fixed length , like 100 bars  or so ?

  thanks

  

  pableitor

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  05/02/2019 at 12:17 PM #97528
  robertogozzi

  Uncommenting line 2 does a similar job easily, can this do?

  

  robertogozzi

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  05/02/2019 at 1:12 PM #97533
  pableitor

  robertogozzi wrote:

  Uncommenting line 2 does a similar job easily, can this do?

  Well , not exactly…if uncommenting line 2 it will just draw the latest S/R.  I mean I would like it to extend ALL the S/R lines for X bars .  Why you may ask? I work on the 15 min TF and I found that the S/R are usually valid for 1 or 2  days, that its like 100/200 bars in a 15m TF.  (pls check pic of the DAX today with hand drawn S/R)

  

  pableitor

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  05/02/2019 at 1:35 PM #97537
  GraHal

  Added the code to here Snippet Link Library

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  robertogozzi

  

  GraHal

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  05/02/2019 at 2:35 PM #97540
  robertogozzi

  PRT does not support arrays so it’s difficult to draw many lines in the past.

  I modified the above code to show, in addition to the most recent S & R lines, the previous ones too.

  You can add more if you need, with some coding effort.

  DEFPARAM CalculateOnLastBars = 1000 DEFPARAM DrawOnLastBarOnly = true PivotBAR = 2 //2 bars AFTER pivot LookBack = 4 //3 bars BEFORE pivot BarLookBack = PivotBAR + 1 IF low[PivotBAR] < lowest[LookBack](low)[BarLookBack] THEN IF low[PivotBAR] = lowest[BarLookBack](low) THEN PrevSupp = MySupport PrevSuppPrice = SupportPrice MySupport = BarIndex - PivotBAR SupportPrice = low[PivotBAR] ENDIF ENDIF IF high[PivotBAR] > highest[LookBack](high)[BarLookBack] THEN IF high[PivotBAR] = highest[BarLookBack](high) THEN PrevRes = MyResistance PrevResPrice = ResistancePrice MyResistance = BarIndex - PivotBAR ResistancePrice = high[PivotBAR] ENDIF ENDIF DRAWSEGMENT(PrevRes,PrevResPrice,BarIndex,PrevResPrice) COLOURED(255,0,0,255) DRAWSEGMENT(PrevSupp,PrevSuppPrice,BarIndex,PrevSuppPrice) COLOURED(0,128,0,255) DRAWSEGMENT(MyResistance,ResistancePrice,BarIndex,ResistancePrice) COLOURED(255,0,0,255) DRAWSEGMENT(MySupport,SupportPrice,BarIndex,SupportPrice) COLOURED(0,128,0,255) RETURN

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  DEFPARAM CalculateOnLastBars = 1000 DEFPARAM DrawOnLastBarOnly   = true PivotBAR    = 2                      //2   bars AFTER  pivot LookBack    = 4                      //3   bars BEFORE pivot BarLookBack = PivotBAR + 1 IF low[PivotBAR] < lowest[LookBack](low)[BarLookBack] THEN IF low[PivotBAR] = lowest[BarLookBack](low) THEN PrevSupp      = MySupport PrevSuppPrice = SupportPrice MySupport     = BarIndex - PivotBAR SupportPrice  = low[PivotBAR] ENDIF ENDIF IF high[PivotBAR] > highest[LookBack](high)[BarLookBack] THEN IF high[PivotBAR]  = highest[BarLookBack](high) THEN PrevRes         = MyResistance PrevResPrice    = ResistancePrice MyResistance    = BarIndex - PivotBAR ResistancePrice = high[PivotBAR] ENDIF ENDIF DRAWSEGMENT(PrevRes,PrevResPrice,BarIndex,PrevResPrice) COLOURED(255,0,0,255) DRAWSEGMENT(PrevSupp,PrevSuppPrice,BarIndex,PrevSuppPrice) COLOURED(0,128,0,255) DRAWSEGMENT(MyResistance,ResistancePrice,BarIndex,ResistancePrice) COLOURED(255,0,0,255) DRAWSEGMENT(MySupport,SupportPrice,BarIndex,SupportPrice) COLOURED(0,128,0,255) RETURN

   

   

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  robertogozzi

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  05/02/2019 at 3:11 PM #97546
  pableitor

  Ok, I get your idea, thanks Roberto!

  

  pableitor

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  10/09/2020 at 9:16 AM #146833
  phoentzs

  Hallo,

  wenn ich diesen Code als meinen SL verwenden möchte, wo genau füge ich diese Bedingungen in meinen Code ein?

  Hi, if I want to use this code as my SL, where exactly do I put these conditions in my code?

  

  phoentzs

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  10/09/2020 at 10:03 AM #146842
  robertogozzi

  Only post in the language of the forumthat you are posting in. For example English only in the English speaking forums and French only in the French speaking forums.

  Thank you 🙂

  

  robertogozzi

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  10/09/2020 at 10:08 AM #146843
  robertogozzi

  As a common rule, I’d say:

  • If you go LONG below SupportPrice
  • If you go SHORT above ResistancePrice.

  How many pips is just a matter of personal choices and and risk aversion attitude.

   

  

  robertogozzi

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