Swing lines indicator

Rorschack · Sat, 14 Jan 2017 18:46:48 +0000

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" 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

This topic has 24 replies, 10 voices, and was last updated 5 years ago by stefou102.

Tagged: resistance, support, swing

Viewing 10 posts - 16 through 25 (of 25 total)

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05/12/2017 at 2:36 PM #35333

Nicolas

if you only want to search through the last 5 days in a 30 minutes, you need to count how much 30 minutes bars there are in 5 days: (24 hours * 2 bars * 5 days) = 240 bars and change the first line to only fetch through this bar quantity:

DEFPARAM CalculateOnLastBars = 240 // To calculate the lines swing we take into consideration only the latest X candles

1	DEFPARAM CalculateOnLastBars = 240 // To calculate the lines swing we take into consideration only the latest X candles

Nicolas

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05/20/2017 at 6:27 PM #36175

invento

Hi Nicholas,

Can you build an indicator to draw these swing lines?

Best Regards

Gabriele

invento

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05/20/2017 at 7:05 PM #36179

Nicolas

@invento

From Ninjatrader? If you have the source code, it should be possible to be converted. Please open a specific thread in the ProBuilder section, thank you.

Nicolas

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05/23/2017 at 12:10 PM #36401

invento

Hi @Nicolas,

Yes it is Ninjatrader, but i don’t have source code, Ninjatrader has an internal function .SwingHigh and .SwingLow that I do not think Prorealtime have on.

I’ve read that you’ve started doing something like that in the discussion:

https://www.prorealcode.com/topic/punti-di-swing-statici/

but I thought that with the new design tools of version 10.3 you could draw segments and not horizontal lines.

Regards

Gabriele

invento

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05/23/2017 at 8:34 PM #36480

Nicolas

Well, maybe you could explain what the indicator do so I could try to recode it from scratch.

Nicolas

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06/03/2017 at 9:15 AM #37335

Copperwave

Thanks Rorschack & Nicolas

Anyway to make the levels not originate or start at zero so that you don’t have to adjust the price axis scaling when changing timeframes?

Thanks

Copperwave

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02/25/2019 at 10:43 PM #92305

stefou102

Hello,

I reuse the original code, but used the William’s 3 bar indicator in order to identify the high/low acting as support/resistance in order to filter out the number of lines drawn. The outcome is better than the original version in my opinion, at least for daily/weekly charts on stock (what I was focus on). Code can still be optimized though, I’m not a pro coder.

DEFPARAM CalculateOnLastBars = 100
Maxbars=100

if barindex=0 then

HIL=0
LOL=close*10
refbar=0

endif
//William's indicator
counter=1
ii=0
jj=ii+1
total=0
while counter<4 do
total=total+1
if (low[jj]>=low[ii]) and (high[jj]<=high[ii]) then
//inside bar
jj=jj+1
else
counter=counter+1
ii=ii+1
JJ=ii+1
endif
wend
bas=lowest[total](low)
haut=highest[total](high)
 
if close crosses over haut[1] then
reff=bas

endif
if close crosses under bas[1] then
reff=haut

endif


//Finding the low/high when the indicator changes of direction
If close crosses over reff then
refbar=barindex

if refbar[1]<>0 then
lookbackL=max(1,refbar-refbar[1]+1)
LOL=lowest[lookbackL](low)
for i=0 to lookbackL
if low[i]=LOL then
savedbarL=barindex[i]
endif
next

endif

elsif close crosses under reff  then
refbar=barindex
if refbar[1]<>0 then
lookbackH=max(1,refbar-refbar[1]+1)
HIL=highest[lookbackH](high)
for i=0 to lookbackH
if high[i]=HIL then
savedbarH=barindex[i]
endif
next

endif
endif

//For the latest data on the chart, finding the high/low since the indicator change of direction for the last time, and only if this isn't the last bar which makes new high/low

LastBarOnChart=date=today
if LastBarOnChart then
lookbackH=max(1,barindex-refbar+1)
lookbackL=max(1,barindex-refbar+1)
if high<>highest[lookbackH](high) then
HIL=highest[lookbackH](high)
for i=0 to lookbackH
if high[i]=HIL then
savedbarH=barindex[i]
endif
next
endif
if low<>lowest[lookbackL](low) then
LOL=lowest[lookbackL](low)

for i=0 to lookbackL
if low[i]=LOL then
savedbarL=barindex[i]
endif
next
endif
endif

//deleting support/resistance which are too close

j = 0
valsup = HIL + tolerance*HIL/100
valinf = HIL - tolerance*HIL/100

while j <> maxbars do
if HIL[j] = 0 then//aiuta ad accorciare il ciclo
break
endif
cond1 = (HIL[j] <= valsup and HIL[j] >= valinf)
cond2= (LOL[j] <= valsup and LOL[j] >= valinf)
if cond1 and HIL>HIL[j] then
HIL = HIL
elsif cond1 and HIL<=HIL[j] then
HIL=HIL[j]
endif

if cond2 and HIL>LOL[j] then
HIL = HIL
elsif cond2 and HIL<=LOL[j] then
HIL=LOL[j]
endif



j = j+1
wend

j = 0
valsup = LOL + tolerance*LOL/100
valinf = LOL - tolerance*LOL/100

while j <> maxbars do
if LOL[j] = 0 then//aiuta ad accorciare il ciclo
break
endif
cond1 = (LOL[j] <= valsup and LOL[j] >= valinf)
cond2= (HIL[j] <= valsup and HIL[j] >= valinf)
if cond1 and LOL<LOL[j] then
LOL = LOL
elsif cond1 and LOL>=LOL[j] then
LOL=LOL[j]
endif

if cond2 and LOL<HIL[j] then
LOL = LOL
elsif cond2 and LOL>=HIL[j] then
LOL=HIL[j]
endif



j = j+1
wend


//keeping in memeory the latest support/resistance

once resistancecount=1
if  HIL<>lastresistance then //barindex>lastdrawn and
resistancecount=resistancecount+1
if resistancecount=1 then
resistance1=HIL
lastresistance=resistance1
endif
if resistancecount=2 then
resistance2=HIL
lastresistance=resistance2
endif
if resistancecount=3 then
resistance3=HIL
lastresistance=resistance3
endif
if resistancecount=4 then
resistance4=HIL
lastresistance=resistance4
endif
if resistancecount=5 then
resistance5=HIL
lastresistance=resistance5
endif

if resistancecount=6 then
resistance6=HIL
lastresistance=resistance6
endif

if resistancecount=7 then
resistance7=HIL
lastresistance=resistance7
endif

if resistancecount=8 then
resistance8=HIL
lastresistance=resistance8
endif
endif

once supportcount=1
if  LOL<>lastsupport then 
supportcount=supportcount+1
if supportcount=1 then
support1=LOL
lastsupport=support1
endif
if supportcount=2 then
support2=LOL
lastsupport=support2
endif
if supportcount=3 then
support3=LOL
lastsupport=support3
endif
if supportcount=4 then
support4=LOL
lastsupport=support4
endif
if supportcount=5 then
support5=LOL
lastsupport=support5
endif

if supportcount=6 then
support6=LOL
lastsupport=support6
endif
if supportcount=7 then
support7=LOL
lastsupport=support7
endif
if supportcount=8 then
support8=LOL
lastsupport=support8
endif


endif


drawHline(resistance1) coloured(0,200,0)
drawHline(resistance2) coloured(0,200,0)
drawHline(resistance3) coloured(0,200,0)
drawHline(resistance4) coloured(0,200,0)
drawHline(resistance5) coloured(0,200,0)
drawHline(resistance6) coloured(0,200,0)
drawHline(resistance7) coloured(0,200,0)
drawHline(resistance8) coloured(0,200,0)

drawHline(support1) coloured(200,0,0)
drawHline(support2) coloured(200,0,0)
drawHline(support3) coloured(200,0,0)
drawHline(support4) coloured(200,0,0)
drawHline(support5) coloured(200,0,0)
drawHline(support6) coloured(200,0,0)
drawHline(support7) coloured(200,0,0)
drawHline(support8) coloured(200,0,0)
drawtext("▼",savedbarH,HIL+HIL*1/100)
drawtext("▲",savedbarL,LOL-LOL*1/100)

return

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DEFPARAM CalculateOnLastBars = 100

Maxbars=100

if barindex=0 then

HIL=0

LOL=close*10

refbar=0

endif

//William's indicator

counter=1

ii=0

jj=ii+1

total=0

while counter<4 do

total=total+1

if (low[jj]>=low[ii]) and (high[jj]<=high[ii]) then

//inside bar

jj=jj+1

else

counter=counter+1

ii=ii+1

JJ=ii+1

endif

wend

bas=lowest[total](low)

haut=highest[total](high)

if close crosses over haut[1] then

reff=bas

endif

if close crosses under bas[1] then

reff=haut

endif

//Finding the low/high when the indicator changes of direction

If close crosses over reff then

refbar=barindex

if refbar[1]<>0 then

lookbackL=max(1,refbar-refbar[1]+1)

LOL=lowest[lookbackL](low)

for i=0 to lookbackL

if low[i]=LOL then

savedbarL=barindex[i]

endif

elsif close crosses under reff then

refbar=barindex

if refbar[1]<>0 then

lookbackH=max(1,refbar-refbar[1]+1)

HIL=highest[lookbackH](high)

for i=0 to lookbackH

if high[i]=HIL then

savedbarH=barindex[i]

endif

//For the latest data on the chart, finding the high/low since the indicator change of direction for the last time, and only if this isn't the last bar which makes new high/low

LastBarOnChart=date=today

if LastBarOnChart then

lookbackH=max(1,barindex-refbar+1)

lookbackL=max(1,barindex-refbar+1)

if high<>highest[lookbackH](high) then

HIL=highest[lookbackH](high)

for i=0 to lookbackH

if high[i]=HIL then

savedbarH=barindex[i]

endif

if low<>lowest[lookbackL](low) then

LOL=lowest[lookbackL](low)

for i=0 to lookbackL

if low[i]=LOL then

savedbarL=barindex[i]

endif

//deleting support/resistance which are too close

j = 0

valsup = HIL + tolerance*HIL/100

valinf = HIL - tolerance*HIL/100

while j <> maxbars do

if HIL[j] = 0 then//aiuta ad accorciare il ciclo

break

endif

cond1 = (HIL[j] <= valsup and HIL[j] >= valinf)

cond2= (LOL[j] <= valsup and LOL[j] >= valinf)

if cond1 and HIL>HIL[j] then

HIL = HIL

elsif cond1 and HIL<=HIL[j] then

HIL=HIL[j]

endif

if cond2 and HIL>LOL[j] then

HIL = HIL

elsif cond2 and HIL<=LOL[j] then

HIL=LOL[j]

endif

j = j+1

wend

j = 0

valsup = LOL + tolerance*LOL/100

valinf = LOL - tolerance*LOL/100

while j <> maxbars do

if LOL[j] = 0 then//aiuta ad accorciare il ciclo

break

endif

cond1 = (LOL[j] <= valsup and LOL[j] >= valinf)

cond2= (HIL[j] <= valsup and HIL[j] >= valinf)

if cond1 and LOL<LOL[j] then

LOL = LOL

elsif cond1 and LOL>=LOL[j] then

LOL=LOL[j]

endif

if cond2 and LOL<HIL[j] then

LOL = LOL

elsif cond2 and LOL>=HIL[j] then

LOL=HIL[j]

endif

j = j+1

wend

//keeping in memeory the latest support/resistance

once resistancecount=1

if HIL<>lastresistance then //barindex>lastdrawn and

resistancecount=resistancecount+1

if resistancecount=1 then

resistance1=HIL

lastresistance=resistance1

endif

if resistancecount=2 then

resistance2=HIL

lastresistance=resistance2

endif

if resistancecount=3 then

resistance3=HIL

lastresistance=resistance3

endif

if resistancecount=4 then

resistance4=HIL

lastresistance=resistance4

endif

if resistancecount=5 then

resistance5=HIL

lastresistance=resistance5

endif

if resistancecount=6 then

resistance6=HIL

lastresistance=resistance6

endif

if resistancecount=7 then

resistance7=HIL

lastresistance=resistance7

endif

if resistancecount=8 then

resistance8=HIL

lastresistance=resistance8

endif

once supportcount=1

if LOL<>lastsupport then

supportcount=supportcount+1

if supportcount=1 then

support1=LOL

lastsupport=support1

endif

if supportcount=2 then

support2=LOL

lastsupport=support2

endif

if supportcount=3 then

support3=LOL

lastsupport=support3

endif

if supportcount=4 then

support4=LOL

lastsupport=support4

endif

if supportcount=5 then

support5=LOL

lastsupport=support5

endif

if supportcount=6 then

support6=LOL

lastsupport=support6

endif

if supportcount=7 then

support7=LOL

lastsupport=support7

endif

if supportcount=8 then

support8=LOL

lastsupport=support8

endif

drawHline(resistance1) coloured(0,200,0)

drawHline(resistance2) coloured(0,200,0)

drawHline(resistance3) coloured(0,200,0)

drawHline(resistance4) coloured(0,200,0)

drawHline(resistance5) coloured(0,200,0)

drawHline(resistance6) coloured(0,200,0)

drawHline(resistance7) coloured(0,200,0)

drawHline(resistance8) coloured(0,200,0)

drawHline(support1) coloured(200,0,0)

drawHline(support2) coloured(200,0,0)

drawHline(support3) coloured(200,0,0)

drawHline(support4) coloured(200,0,0)

drawHline(support5) coloured(200,0,0)

drawHline(support6) coloured(200,0,0)

drawHline(support7) coloured(200,0,0)

drawHline(support8) coloured(200,0,0)

drawtext("▼",savedbarH,HIL+HIL*1/100)

drawtext("▲",savedbarL,LOL-LOL*1/100)

return

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Copperwave

stefou102

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02/26/2019 at 8:05 AM #92312

stefou102

Sorry, you have to add the term “tolerance” as parameter for the indicator, or add it at the beginning of the code. It is express here in percentage, and not in point. Depending on the TF, you can use like 0.2 (for intraday) to 3 for weekly

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Nicolas

stefou102

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02/26/2019 at 10:29 AM #92333

Nicolas

Thank you stefou! While playing with the tolerance, it seems that it does not change anything in the detection of the supports and resistances, I did not deepen the understanding of your version however 😳

Nicolas

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Replies: 20863

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02/26/2019 at 11:23 AM #92345

stefou102

Normally, if two lines acting as support are resistance are too close (by the definition of the tolerance), one of them disappear. In the code before, I think you took the average of the two, but I prefer keeping the highest/lowest of the two depending on the case. But indeed, I have noticed that in a few cases, it doesn’t work as intended. So there are still a few bugs in the code, but overall work very well (for me at least). I hope someone can still improve it.

stefou102

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Replies: 171

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