Swing lines indicator

• 01/14/2017 at 7:46 PM #21128
  Rorschack

  Hello to everyone,

  before I start, I want to tell everyone that some days ago I wrote this post in the italian forum, in which I was looking for some help because I’ve created an indicator that draws these swing lines that represent  resistances and supports and I wanted to improve the algorithm. Nicolas, helped me to make the indicator work for all assets ( I think you all know him ) and he told me that maybe I can find some more help here.

  So I wanted to create an indicator that can draw the swing lines that I draw manually (first screenshot).

  I wrote the code below:

  //vars //n = 21 // period for calculating highs and lows //tolleranza = 10 // (needs to be expressed in points )if we have 2 or more lines that are this close then draw a medium line //smoothness = 13 // this variable acts like a smooth factor DEFPARAM CalculateOnLastBars = 350 //per il calcolo delle swing lines prendiamo in considerazione solamente le ultime X candele once linear = 0 once lineas = 0 once newlinear = 0 once newlineas = 0 once newlinearr = 0 once newlineass = 0 resistenze = highest[n]((close+high)/2) // resistances supporti = lowest[n]((close+low)/2) // supports if resistenze[n-lisciatura] = resistenze[1] then linear = (resistenze[1] + linear) / 2 else linear = linear endif //drawhline(linear) coloured(255,0,0) if supporti[n-lisciatura] = supporti[1] then lineas = (supporti[1] + lineas) / 2 else lineas = lineas endif //drawhline(lineas) coloured(0,255,0) if linear[2] = linear[1] and linear[1] = linear then //drawhline(linear) coloured(255,0,0) newlinear = linear endif if lineas[2] = lineas[1] and lineas[1] = lineas then //drawhline(lineas) coloured(0,255,0) newlineas = lineas endif i = 0 valsup = newlinear + tolleranza*pointsize valinf = newlinear - tolleranza*pointsize while i <> 350 do if newlinear[i] = 0 then//aiuta ad accorciare il ciclo break endif cond = (newlinear[i] <= valsup and newlinear[i] >= valinf) or (newlineas[i] <= valsup and newlineas[i] >= valinf) if cond then newlinearr = (newlinear[i] + newlinear)/2 endif i = i+1 wend i = 0 valsup = newlineas + tolleranza*pointsize valinf = newlineas - tolleranza*pointsize while i <> 350 do if newlineas[i] = 0 then //should help to make the cycle shorter break endif cond = (newlineas[i] <= valsup and newlineas[i] >= valinf) or (newlinear[i] <= valsup and newlinear[i] >= valinf) if cond then newlineass = (newlineas[i] + newlineas)/2 endif i = i+1 wend drawhline(newlinearr) coloured(0,125,255) drawhline(newlineass) coloured(0,125,255) return newlinearr as "R", newlineass as "S"

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  //vars //n = 21 // period for calculating highs and lows //tolleranza = 10 // (needs to be expressed in points )if we have 2 or more lines that are this close then draw a medium line //smoothness = 13 // this variable acts like a smooth factor DEFPARAM CalculateOnLastBars = 350 //per il calcolo delle swing lines prendiamo in considerazione solamente le ultime X candele once linear = 0 once lineas = 0 once newlinear = 0 once newlineas = 0 once newlinearr = 0 once newlineass = 0   resistenze = highest[n]((close+high)/2) // resistances supporti = lowest[n]((close+low)/2) // supports   if resistenze[n-lisciatura] = resistenze[1] then linear = (resistenze[1] + linear) / 2 else linear = linear endif //drawhline(linear) coloured(255,0,0)   if supporti[n-lisciatura] = supporti[1] then lineas = (supporti[1] + lineas) / 2 else lineas = lineas endif //drawhline(lineas) coloured(0,255,0)   if linear[2] = linear[1] and linear[1] = linear then //drawhline(linear) coloured(255,0,0) newlinear = linear endif   if lineas[2] = lineas[1] and lineas[1] = lineas then //drawhline(lineas) coloured(0,255,0) newlineas = lineas endif   i = 0 valsup = newlinear + tolleranza*pointsize valinf = newlinear - tolleranza*pointsize   while i <> 350 do if newlinear[i] = 0 then//aiuta ad accorciare il ciclo break endif cond = (newlinear[i] <= valsup and newlinear[i] >= valinf) or (newlineas[i] <= valsup and newlineas[i] >= valinf) if cond then newlinearr = (newlinear[i] + newlinear)/2 endif i = i+1 wend   i = 0 valsup = newlineas + tolleranza*pointsize valinf = newlineas - tolleranza*pointsize   while i <> 350 do if newlineas[i] = 0 then //should help to make the cycle shorter break endif cond = (newlineas[i] <= valsup and newlineas[i] >= valinf) or (newlinear[i] <= valsup and newlinear[i] >= valinf) if cond then newlineass = (newlineas[i] + newlineas)/2 endif i = i+1 wend   drawhline(newlinearr) coloured(0,125,255) drawhline(newlineass) coloured(0,125,255)   return  newlinearr as "R", newlineass as "S"

  The indicator draws the lines like in the second attachment. Now the result is not bad but I would like the reduce the number of the lines. What I would like to do next is to filter the lines using other lines drawn on bigger time frames. Because I’m not that much of an expert with PRT code the algorithm is bit heavy and if I would like to apply the forth filter ( the one based on bigger tf ) I’m afraid it would be much much heavier.

  I already know Nicolas has some ideas and I’m looking forward to see what he has in mind 🙂

  Thanks

  6 users thanked author for this post.

  Meta Signals Pro, Wing, Nicolas, gianlox, DANY, ALE

  

  Rorschack

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  04/11/2017 at 5:13 PM #31745
  Nicolas

  Thanks to the new website search engine, I retrieved this post lost months ago 🙂

  Here is the version I made so far (same as the one from the Italian forum)

  DEFPARAM CalculateOnLastBars = 350 // To calculate the lines swing we take into consideration only the latest X candles n = 20 // highest and lowest period for support/resistance fetch tolerance = 5 // should be expressed in points) if there are two (or more) lines that are close to me, then you have to draw a center line lookback = 10 // period lookback to confirm support and resistance areas showSupport = 1//(0=false , 1=true) showResistance = 1 //(0=false , 1=true) once linear = 0 once lineas = 0 once newlinear = 0 once newlineas = 0 once newlinearr = 0 once newlineass = 0 if showResistance then resistance = highest[n](high) // resistance ( massimi precedenti dove i prezzi sono stati respinti) if resistance[n-lookback] = resistance[1] then linear = (resistance[1] + linear) / 2 else linear = linear endif if linear[2] = linear[1] and linear[1] = linear then newlinear = linear endif i = 0 valsup = newlinear + tolerance*pointsize valinf = newlinear - tolerance*pointsize while i <> 350 do if newlinear[i] = 0 then//aiuta ad accorciare il ciclo break endif cond = (newlinear[i] <= valsup and newlinear[i] >= valinf) or (newlineas[i] <= valsup and newlineas[i] >= valinf) if cond then newlinearr = (newlinear[i] + newlinear)/2 savedbar = barindex//[i] endif i = i+1 wend drawhline(newlinearr) coloured(0,125,255) if newlinearr<>oldtextr then drawtext("▼ #newlinearr#",savedbar,newlinearr) oldtextr=newlinearr endif endif if showSupport then support = lowest[n](low) // support ( minimi precedenti dove i prezzi sono stati rimbalzati) if support[n-lookback] = support[1] then lineas = (support[1] + lineas) / 2 else lineas = lineas endif if lineas[2] = lineas[1] and lineas[1] = lineas then newlineas = lineas endif i = 0 valsup = newlineas + tolerance*pointsize valinf = newlineas - tolerance*pointsize while i <> 350 do if newlineas[i] = 0 then//aiuta ad accorciare il ciclo break endif cond = (newlineas[i] <= valsup and newlineas[i] >= valinf) or (newlinear[i] <= valsup and newlinear[i] >= valinf) if cond then newlineass = (newlineas[i] + newlineas)/2 savedbar = barindex[i] endif i = i+1 wend drawhline(newlineass) coloured(0,125,255) if newlinearr<>oldtexts then drawtext("▲ #newlineass#",savedbar,newlineass) oldtexts=newlineass endif endif RETURN

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  DEFPARAM CalculateOnLastBars = 350 // To calculate the lines swing we take into consideration only the latest X candles   n = 20 // highest and lowest period for support/resistance fetch tolerance = 5 // should be expressed in points) if there are two (or more) lines that are close to me, then you have to draw a center line lookback = 10 // period lookback to confirm support and resistance areas showSupport = 1//(0=false , 1=true) showResistance = 1 //(0=false , 1=true)   once linear = 0 once lineas = 0 once newlinear = 0 once newlineas = 0 once newlinearr = 0 once newlineass = 0   if showResistance then resistance = highest[n](high) // resistance ( massimi precedenti dove i prezzi sono stati respinti)   if resistance[n-lookback] = resistance[1] then linear = (resistance[1] + linear) / 2 else linear = linear endif   if linear[2] = linear[1] and linear[1] = linear then newlinear = linear endif   i = 0 valsup = newlinear + tolerance*pointsize valinf = newlinear - tolerance*pointsize   while i <> 350 do if newlinear[i] = 0 then//aiuta ad accorciare il ciclo break endif cond = (newlinear[i] <= valsup and newlinear[i] >= valinf) or (newlineas[i] <= valsup and newlineas[i] >= valinf) if cond then newlinearr = (newlinear[i] + newlinear)/2 savedbar = barindex//[i] endif i = i+1 wend   drawhline(newlinearr) coloured(0,125,255) if newlinearr<>oldtextr then drawtext("▼ #newlinearr#",savedbar,newlinearr) oldtextr=newlinearr endif endif   if showSupport then support = lowest[n](low) // support ( minimi precedenti dove i prezzi sono stati rimbalzati)   if support[n-lookback] = support[1] then lineas = (support[1] + lineas) / 2 else lineas = lineas endif   if lineas[2] = lineas[1] and lineas[1] = lineas then newlineas = lineas endif   i = 0 valsup = newlineas + tolerance*pointsize valinf = newlineas - tolerance*pointsize   while i <> 350 do if newlineas[i] = 0 then//aiuta ad accorciare il ciclo break endif cond = (newlineas[i] <= valsup and newlineas[i] >= valinf) or (newlinear[i] <= valsup and newlinear[i] >= valinf) if cond then newlineass = (newlineas[i] + newlineas)/2 savedbar = barindex[i] endif i = i+1 wend   drawhline(newlineass) coloured(0,125,255) if newlinearr<>oldtexts then drawtext("▲ #newlineass#",savedbar,newlineass) oldtexts=newlineass endif endif   RETURN

  I’ll try to make further development on this indicator in the next days/weeks. Subscribe! Thanks to Rorschack for the original code and idea!

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  Gianluca

  

  Nicolas

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  04/26/2017 at 12:38 PM #33486
  Andy

  Hi Nicolas, tried your code but it says error in line 1, im using ProRealTime 10.2 (Binck bank version). how can i solve to see support and resistance? Thanks!!

  

  Andy

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  04/26/2017 at 2:04 PM #33506
  Nicolas

  Sorry but this indicator use graphical components only available since version 10.3.

  You should open a demo account with PRT-CFD! https://www.prorealcode.com/PRT-CFD-english/

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  fredd81

  

  Nicolas

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  04/26/2017 at 2:12 PM #33510
  Andy

  ok thanks, il try it and let you know 🙂

  

  Andy

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  04/27/2017 at 8:06 PM #33766
  StantonR

  Very Nice.

  Exactly what I was looking for if only we can store these values in variables.

  

  StantonR

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  04/28/2017 at 6:39 PM #33907
  fredd81

  This i great! thx

  

  fredd81

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  05/03/2017 at 5:06 AM #34357
  CKW

  perfect. This indicator is Awesome!

  

  CKW

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  05/03/2017 at 7:23 AM #34368
  CKW

  Hi Nicholas,

  as PRT do not support array, Do you have a better way to maintain these R/S level as part of automatic trading system?

  For e.g, Past 10 Rresistance, Past 10 Support

  I would like to use those R/S as exit level.

  Br, CKW

  

  CKW

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  05/03/2017 at 10:46 AM #34383
  Nicolas

  You can use this updated code I just made, but only for support lines. Even if we don’t have arrays, it stores and draws last 10 support lines (which become resistance line of course when price is below them). Example attached too.

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  GraHal

  

  Nicolas

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  05/03/2017 at 12:47 PM #34408
  GraHal

  Hey this is great, very useful!

  Thank you so Much Nicolas … I don’t know how you do it and keep up with everything else!

  GraHal

  

  GraHal

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  05/03/2017 at 1:01 PM #34410
  Nicolas

  GraHal wrote:

  I don’t know how you do it and keep up with everything else!

  This is something I don’t know myself, and you don’t even have any ideas of how many things are currently on the table ..

  

  Nicolas

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  05/11/2017 at 2:33 PM #35214
  CKW

  Thanks Nicholas!

  I have the similar way:

  if newlineass<>oldtexts then drawtext("▲ #newlineass#",savedbar,newlineass,SansSerif,standard,14) Y10 = Y9 Y9 = Y8 Y8 = Y7 Y7 = Y6 Y6 = Y5 Y5 = Y4 Y4 = Y3 Y3 = Y2 Y2 = Y1 Y1 = newlineass oldtexts=newlineass endif endif

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  if newlineass<>oldtexts then drawtext("▲ #newlineass#",savedbar,newlineass,SansSerif,standard,14) Y10 = Y9 Y9 = Y8 Y8 = Y7 Y7 = Y6 Y6 = Y5 Y5 = Y4 Y4 = Y3 Y3 = Y2 Y2 = Y1 Y1 = newlineass oldtexts=newlineass endif endif

  i do not understand very well the Algorithm, how do i adjust the parameters optimize for past friday R / S for 30m time frame?

  1 day = 48 candles (30m)

  

  CKW

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  05/11/2017 at 9:36 PM #35252
  Nicolas

  Sorry CKW, but I don’t understand? What is the code you provided?

  

  Nicolas

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  05/12/2017 at 4:05 AM #35263
  CKW

  ah… Sorry Nicholas. It’s 2 different topics
  First part of my post is to share i am using following to back up the Past 10 support. Whenever there is a new support, it will be stored as Y1, previous support will back up as Y2 and so on.

  if newlineass<>oldtexts then drawtext("▲ #newlineass#",savedbar,newlineass,SansSerif,standard,14) Y10 = Y9 Y9 = Y8 Y8 = Y7 Y7 = Y6 Y6 = Y5 Y5 = Y4 Y4 = Y3 Y3 = Y2 Y2 = Y1 Y1 = newlineass oldtexts=newlineass endif

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  if newlineass<>oldtexts then drawtext("▲ #newlineass#",savedbar,newlineass,SansSerif,standard,14) Y10 = Y9 Y9 = Y8 Y8 = Y7 Y7 = Y6 Y6 = Y5 Y5 = Y4 Y4 = Y3 Y3 = Y2 Y2 = Y1 Y1 = newlineass oldtexts=newlineass endif

  Second part of my Post is to get your advice, what is the parameters to adjust (n, lookback, etc) if i need only last 5 days R / S  in 30m time frame chart. I do not understand well part of this algorithm.

  if resistance[n-lookback] = resistance[1] then linear = (resistance[1] + linear) / 2 else linear = linear endif if linear[2] = linear[1] and linear[1] = linear then newlinear = linear endif

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  if resistance[n-lookback] = resistance[1] then linear = (resistance[1] + linear) / 2 else linear = linear endif   if linear[2] = linear[1] and linear[1] = linear then newlinear = linear endif

  Br, CKW

  

  CKW

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