Hi Everyone,
A while back Christof Risch (iya) was kind enough to code the attached indicator for me. The idea behind it was to draw horizontal S&R lines where the O,H,L,C of different price bars were within 0 to 2 pips of each other. However I have noticed the following 2 problems with it:
(i) When it compares OHLC of different bars it is including the OHLC of the same bar. So for example if it finds the close & high of a bar to be the same it is counting it as a hit when it should be comparing the OHLC of DIFFERENT bars.
(ii) It is comparing the OHLC of price bars at each price level rather then comparing them to EACH OTHER. Because of this you can have two price hits that are further apart then what you specified for the pip tolerance.
I use S&R (visual inspection using the above method) together with James16 PA and it can be a real time saver if I can automatically get the S&R lines drawn. I find this a very effective combination for me.
Unfortunately IYA doesn’t seem to visit this forum anymore so I would be REALLY grateful if someone is kind enough to fix these problems.
Thanks for any help.
Naj
A while back Christof Risch (iya) was kind enough to code the attached indicator for me. The idea behind it was to draw horizontal S&R lines where the O,H,L,C of different price bars were within 0 to 2 pips of each other. However I have noticed the following 2 problems with it:
(i) When it compares OHLC of different bars it is including the OHLC of the same bar. So for example if it finds the close & high of a bar to be the same it is counting it as a hit when it should be comparing the OHLC of DIFFERENT bars.
(ii) It is comparing the OHLC of price bars at each price level rather then comparing them to EACH OTHER. Because of this you can have two price hits that are further apart then what you specified for the pip tolerance.
I use S&R (visual inspection using the above method) together with James16 PA and it can be a real time saver if I can automatically get the S&R lines drawn. I find this a very effective combination for me.
Unfortunately IYA doesn’t seem to visit this forum anymore so I would be REALLY grateful if someone is kind enough to fix these problems.
Thanks for any help.
Naj
Attached File(s)
Point SR.mq4
3 KB
|
558 downloads