I need someone to help me write an EA that is very close to the way Demark TL works but I want it to work the way I identify support and resistance.
This is the way I identify support and resistance:
When I open my 4hr chart and am looking to see where price has historically bounced. When I see this, I find out to see if that particular area has been used as both support and resistance in time past. Then, I draw line to connect them together. Oftentimes, from my 4hr chart, i will see a “range” of support and resistance, anywhere from 5 – 30 pips. In order to more precisely determine where to enter the trade I will scroll down to a lower timeframe and look at the last few times price used this level. i look to find an exact price where price has bounced off of the most.
However, before I consider this price to be good, there must be at least two or three clear instances in which the level has acted as strong support/resistance
When price comes close to that region, say 50 pips, I get glued to my pc to trade the rejection at this particular price.
What I want is an EA that will do the above and also send mail when this has been found and price is 50pips away.
This has worked well for me as it fits my lifestyle but I need more freedom and that is why I need an EA.
This is the way I identify support and resistance:
When I open my 4hr chart and am looking to see where price has historically bounced. When I see this, I find out to see if that particular area has been used as both support and resistance in time past. Then, I draw line to connect them together. Oftentimes, from my 4hr chart, i will see a “range” of support and resistance, anywhere from 5 – 30 pips. In order to more precisely determine where to enter the trade I will scroll down to a lower timeframe and look at the last few times price used this level. i look to find an exact price where price has bounced off of the most.
However, before I consider this price to be good, there must be at least two or three clear instances in which the level has acted as strong support/resistance
When price comes close to that region, say 50 pips, I get glued to my pc to trade the rejection at this particular price.
What I want is an EA that will do the above and also send mail when this has been found and price is 50pips away.
This has worked well for me as it fits my lifestyle but I need more freedom and that is why I need an EA.