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

screenshot1-1.jpg screenshot2-1.jpg