Coding Support and Resistance

Forums ProRealTime English forum ProOrder support Coding Support and Resistance

Viewing 15 posts - 1 through 15 (of 15 total)
  • #120757

    I asked in the past if it was possible to consider the ProRealTrend automatic detections but seems it’s not.

    Considering that, is there a way to code support and resistance in general for the charts? Or at least something similar to these “hot zones” for the prices?

    It could be helpful for the development of the strategies, especially for forex.

    #120759

    A Donchian channel can work well for that:

    Adjust the number for how many bars to look back

    #120760

    Please describe how to find those support and resistance zones, you should start from the beginning.. 🙂

    #120761

    you should start from the beginning

    July 8th, 1932 the Dow closed at 41.22 – that’s a pretty safe support level. I’ll start to get worried if we fall below that.

    #120762
    #120763

    that’s a pretty safe support level

    I reckon we may see the DJI around 23,500 as a floor before we start to go back up again?

    #120764

    Yeah could be … there’s a rising trend line at around 24,000, but still, takes a brave man to call it. I’ve got my stoploss at the 1932 low, so I know I’m safe. 😉

    (nice bounce at the opening bell today, maybe it’s up from here?)

    #120765
    #120766

    maybe it’s up from here?)

    Most likely a sucker’s rally just like the same price action in the last few days between 2:30 and 3:00 ish? i

    #120786

    First of all, thanks all of you for the contibutions and the participatory spirit. That always remind me how beautiful this community is.

    Coming back to the topic, i was talking about something very “dynamic”: the price touches n times a x wide zone (number of touches and width of the zone to be optimized for the specific timeframes of reference). Then the system “knows” that the n times touched and x wide zone is a support/resistance and i can operate on that.
    The VERY PROBLEM with this idea is that could be very difficult to coding the spot of the obliques s/r, because of the inability to find a common price touch area.

    I will read your guys topics and indicators suggestions as soon as possible, maybe i will find something also more interesting than this basic idea 🙂

    #120787

    To be considered over n and x, in a y number of last bars/time in order to “reset” support and resistance levels when a breakout occurs.

    #120791
    #120814

    Thanks, i will study all the cases and try to develope the strategy I have in mind.
    If someone has more hints it’s welcome 🙂

    #120903

    I think that one was great: https://www.prorealcode.com/prorealtime-indicators/zigzag-supdem-supply-and-demand-zones/

    But you’ll have to change the zigzag indicator to something else to be able to use the code in ProOrder. I heard that zigzag would be usable in the future but i’m not sure if it is in the pipe or not.

    1 user thanked author for this post.
    #120982

    Here’s a first try on NIKKEI 15M. Not so bad also on robustness test, put it on demo test.

     

Viewing 15 posts - 1 through 15 (of 15 total)

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