Seeking Coding advice: Support and Resistance

Hello there guys, I was looking for some ideas on how maybe to implement a calculation of the support and resistance leves on a daily chart automatically by an an EA.

I am looking forward for a possible insight from a senior coder with an advice on how to calculate them.

Kind regards,

I don't know about an EA, but I use this pivot point indicator to show areas of support and resistance.

Funnily enough I am looking for exactly the same thing! I did find this from another forum, haven't had a chance to dig deeper:

Simple approach is to take local high/low (also called maxima/minima) over a fixed period e. g. 50 bars. Use school maths to find turning points (dy/dx =0). Use school maths again to find maxima or minima (d2y/dx). You then have a list of local min max values. If 2 or more have similar (introduce a variation factor to your price like 5% +/-) price you found a horizontal support. For non horizontal support lines project local min with other mins using linear function y=kx+m. Or try to fit many mins to the line using ols. The more mins from your list fit the stronger your support line.

Looking forward to seeing what responses you get.