Minimum distance from Support or resistance

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07/25/2022 at 10:02 AM #197890 quote

Stocks008
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Good day,

I am trying to code an indicator that will take support and resistance into account. I am struggling with the minimum distance from support or resistance part. Let’s say the support or resistance will be given by the 30 SMA and 100 SMA. The indicator should only draw instruction if the support or resistance ( 30 and 100 averages) is further away than 10 points from the current candle’s open price. Is there a way to do this and always get a positive value in points?

I hope I made enough sense in my question.

Thank you,

Kind Regards

07/25/2022 at 10:13 AM #197892 quote
robertogozzi
Moderator

Legend
There you go:
```
ONCE Distance = 10 * PipSize
MySupport     = average[30,0](close)
MyResistance  = average[100,0](close)
Signal        = 0
IF open >= (MySupport + Distance) THEN
   Signal = -1
ELSIF open <= (MyResistance - Distance) THEN
   Signal = 1
ENDIF
RETURN Signal AS "Signal"
```
Stocks008 thanked this post
07/25/2022 at 11:19 AM #197899 quote

Stocks008
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Average

Thank you very much, I appreciate your help. 🙂
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Minimum distance from Support or resistance

ProBuilder: Indicators & Custom Tools

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Stocks008 @jd008 Participant

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This topic contains 2 replies,
has 2 voices, and was last updated by Stocks008
4 years, 1 month ago.

Topic Details

Forum:	ProBuilder: Indicators & Custom Tools
Language:	English
Started:	07/25/2022
Status:	Active
Attachments:	No files

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