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Support and Resistance (Barry) indicator 37 replies

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support resistance indicator

  • #1
  • First Post: Sep 14, 2007 11:03am Sep 14, 2007 11:03am
I look for support and resistance manually, starting from weekly charts and working my way down to 4hr.The obvious way to determine s/r levels is by how many times candles have ended at various prices .The more touches the more significant.This is a big part of my trading method.
This can be very time consuming if you want to watch a lot of pairs though,
I have searched and found many fib and pivot indicators but am looking for a support/resistance indicator specifically and can`t find anything.
does anyone know if there is such a thing? thanks
  • #2
  • Sep 14, 2007 2:23pm Sep 14, 2007 2:23pm
I have this one ...got it from here couple of days ago it is a pivot indicator with sup and res for daily and weekly
have just switched to metatrader so dont know much about it myself so you have probably already seen this..
anyway might help
Attached File(s)
File Type: zip AutoPivotIndicator.zip   9 KB | 11,461 downloads
  • #3
  • Sep 14, 2007 2:49pm Sep 14, 2007 2:49pm
Thanks for the indicator but yes I have it already.It is more a pivot indicator .The support and resistance lines don`t show anything near what I would see as s/r by looking back over time on the charts.
But thanks anyway ,it`s people like you who take the time to help others that makes this forum great..
  • #4
  • Sep 15, 2007 9:36am Sep 15, 2007 9:36am
Quoting randomlight
I look for support and resistance manually, starting from weekly charts and working my way down to 4hr.The obvious way to determine s/r levels is by how many times candles have ended at various prices .The more touches the more significant.This is a big part of my trading method.
This can be very time consuming if you want to watch a lot of pairs though,
I have searched and found many fib and pivot indicators but am looking for a support/resistance indicator specifically and can`t find anything.
does anyone know if there is such a thing? thanks
hi,

i do have this, indicator. to be honest, i havent really tested it, or know what it does (i.e. the code) as i am simply ignorant. (i just read support-resistance off the price itself...lol)

anyway, have a look. mind you, one thing is how the chart looks like right now, and to see the indicator perform live. (what i mean is if it is constantly moving the support resistance lines.)

please comment performance if you test it, and obviously if you dont have it yet.

g
Attached Image (click to enlarge)
Click to Enlarge Name: support resistance.gif Size: 15 KB
Attached File(s)
File Type: mq4 S_R_lines.mq4   19 KB | 14,926 downloads
With a break always expect a pullback, otherwise, you're dead meat/
  • #5
  • Sep 15, 2007 12:31pm Sep 15, 2007 12:31pm
Hope this will help, more or less the same as ghitz's
Attached File(s)
File Type: mq4 Support_and_Resistance_(Barry).mq4   2 KB | 10,660 downloads
  • #6
  • Sep 15, 2007 2:08pm Sep 15, 2007 2:08pm
Random I know what you mean about being further back in time. The other indicators show previous areas better.
At least if have obtained something out of this, and it will save me drawing in the lines!!
Cheers for the indicators ghitz and Fx
  • #7
  • Sep 16, 2007 8:51am Sep 16, 2007 8:51am
Thanks guys, (gals), I`ll try these.
  • #8
  • Sep 16, 2007 2:45pm Sep 16, 2007 2:45pm
Try this indicator.

Ten chances to trade on Monday, Sept. 3, 2007

1.Double bottoms, LONG at the 2nd bottom
2.Double tops, SHORT at the 2nd top
3.Resistance becomes support, LONG
4.Double tops, SHORT at the 2nd top
5.Support becomes resistance, SHORT
6.Double bottoms, LONG at the 2nd bottom
7.Support becomes resistance, SHORT
8.Double tops, SHORT at the 2nd top
9.Triple tops, SHORT at the 3rd top
10. Double bottoms, LONG at the 2nd bottom
Attached Image
Attached File(s)
File Type: mq4 level_trading_123.mq4   13 KB | 17,071 downloads
File Type: pdf Peaks_and_Troughs_Pring.pdf   181 KB | 14,548 downloads
  • #9
  • Edited 5:20am Sep 24, 2007 4:44am | Edited 5:20am
Yes the Support & Resistance (Barry) indicator looks good on a historical chart

But, reasons why it is MUCH LESS impressive when used in real-time include -
1. The S/R level is drawn on the open of the 3rd bar at that level - hence 3 dots appear all at once.
2. S/R levels appear, then can disappear soon after, once the S/R level is breached.
3. S/R levels can move, as & when price breaches the S/R level.
  • #10
  • Sep 24, 2007 5:21am Sep 24, 2007 5:21am
Quoting jimbil
Yes the Support & Resistance (Barry) indicator looks good on a historical chart

But, reasons why it is MUCH LESS impressive when used in real-time include -
1. The S/R level is drawn on the open of the 3rd bar at that level - hence 3 dots appear all at once.
2. S/R levels appear, then can disappear soon after, once the S/R level is breached.
3. S/R levels can move, as & when price breaches the S/R level.
I could live with reason no. 1. alone, and would be able to make good use of this indicator.
But when you add reasons 2 & 3, this makes the support/resistance (barry) indicator practically useless IMO.
I hate indicators like this, that look promising, produce pretty patterns on the historical chart, but in real-time work in a way that makes them practically useless. They are a real waste of time, and i don't understand why people bother producing such indicators. Basically they're a con.
  • #11
  • Sep 24, 2007 6:19am Sep 24, 2007 6:19am
My apologies if this indicator is not what it says to be. It was asked for and I gave what I have. I still use it in real time to see why price is not moving or struggle to get past a point, but its up to the trader to decide
  • #12
  • Edited 7:33am Sep 24, 2007 6:32am | Edited 7:33am
Quoting Fx1618
My apologies if this indicator is not what it says to be. It was asked for and I gave what I have. I still use it in real time to see why price is not moving or struggle to get past a point, but its up to the trader to decide
Hi fx

i'm certainly not blaming you for posting the indicator. What i am saying (to Barry ) is that an indicator that moves drawn objects, deletes drawn objects, etc. is at best - misleading!

Its very frustrating when you think you have found an indicator that you have a use for. Then initial live observations show that it is not quite as good as you hoped it would be (my reason no.1 above), but is still usable. Then further live observations show that it is even less good than you hoped/thought it was (my reasons no. 2 & 3 above), making the indicator more or less in-effective for what you had in mind..............

Thanks.
Attached Image (click to enlarge)
Click to Enlarge Name: srb.gif Size: 42 KB
  • #13
  • Sep 25, 2007 1:36pm Sep 25, 2007 1:36pm
Quoting randomlight
I look for support and resistance manually, starting from weekly charts and working my way down to 4hr.The obvious way to determine s/r levels is by how many times candles have ended at various prices .The more touches the more significant.This is a big part of my trading method.
This can be very time consuming if you want to watch a lot of pairs though,
I have searched and found many fib and pivot indicators but am looking for a support/resistance indicator specifically and can`t find anything.
does anyone know if there is such a thing? thanks
Just hope to help.

Support_Resistance (MTF)
Attached File(s)
File Type: mq4 Support_Resistance.mq4   9 KB | 9,540 downloads
  • #14
  • Nov 4, 2007 1:05pm Nov 4, 2007 1:05pm
In my humble opinion, support and resistance is somewhat subjective to the chart viewer's perspective. Obvious highs and lows are resistance and support, but there is also diagonal support and resistance observed with trend line use.

Barry's s/r indicator looks similar to Doug Schaff's Support/Resistance indicator, complaints that it changes with the chart should consider that current price will invalidate old and create new s/r points.

Mary's s/r indicator uses the code for zig zag to determine s/r levels.
  • #15
  • Nov 4, 2007 1:40pm Nov 4, 2007 1:40pm
I've been working on a trendline indicator, attached, it is still beta, still trying to perfect it...
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_03.gif Size: 10 KB
Attached Image
Attached File(s)
File Type: ex4 Auto TL.ex4   16 KB | 6,619 downloads
  • #16
  • Nov 4, 2007 2:06pm Nov 4, 2007 2:06pm
here's one i found on another forum...
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_04.gif Size: 12 KB
Attached File(s)
File Type: ex4 Demark trend new.ex4   21 KB | 4,478 downloads
  • #17
  • Nov 5, 2007 9:50am Nov 5, 2007 9:50am
Quoting fxid10t
I've been working on a trendline indicator, attached, it is still beta, still trying to perfect it...
can you pls re post the Auto TL cuz when i tried to open it,it showed error.thanks
  • #18
  • Nov 5, 2007 9:53am Nov 5, 2007 9:53am
Quoting fxid10t
here's one i found on another forum...
Hey,it looks lovely,can you please, repost this cuz its showing error too.thanks
  • #19
  • Edited 6:29pm Nov 5, 2007 5:31pm | Edited 6:29pm
here it is
Attached File(s)
File Type: ex4 Auto TL.ex4   17 KB | 3,635 downloads
File Type: ex4 Demark trend new.ex4   21 KB | 3,293 downloads
  • #20
  • Nov 6, 2007 10:46am Nov 6, 2007 10:46am
Quoting fxid10t
I've been working on a trendline indicator, attached, it is still beta, still trying to perfect it...
the autoTL is not coming up here.i tried to open it but it should error.thanks
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