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  • #3,501
  • Sep 9, 2008 6:52am Sep 9, 2008 6:52am
Quoting ozziedave
Hi Lou,

Only time will tell where price will go. Here is the indicator you asked about.
Hi guys I am new here trying to understand the thread and strategy.
Dave you posted an indicator ( s/r ) which hoping you don't mind I attached to MT4 to see how it worked. I am impressed and I wondered is this free to use and if so does it have a time before it ceases to work?
Second what is the calculation ( or the source) it uses in case I ever corrupt my pc again and lose everything: result having to re load again from scratch

Great thread BTW

Rob
  • #3,502
  • Sep 9, 2008 6:53am Sep 9, 2008 6:53am
Am new to this thread. Isn't anyone taking trades? Maybe I am out of line taking these trades??? I am in USDJYP, hit 50% fib and trend line.
Attached Image (click to enlarge)
Click to Enlarge Name: usdjyp.gif Size: 51 KB
  • #3,503
  • Sep 9, 2008 6:57am Sep 9, 2008 6:57am
Here is the Barry S&R indicator if any one wants to use it.
Attached File(s)
File Type: mq4 SuperSR 6.mq4   3 KB | 842 downloads
  • #3,504
  • Sep 9, 2008 6:57am Sep 9, 2008 6:57am
Quoting Jabiru
Well done Paul, and thanks for sharing this with everyone. Will the indicator work in the VT platform, and how do I get a copy from you?
Hi Sorry I only write code in Metatrader ... if you would still like a copy drop me an email and i'll mail it back to you ... you can get a free metatrader based account from any number of brokers (I use ibfx)CheersPaul
  • #3,505
  • Sep 9, 2008 7:13am Sep 9, 2008 7:13am
Quoting pmurfin
Guys

Sorry for the slow speed ... attached in the latest version (mail me if you want a copy of it at this intermediate stage). Looks like it picks the tops better than the bottoms at the mo although a break of a S/R points to trading in the direction of the price action rather than fading it. The blue lines are poential support the red potential resistance. The lines are plotted in advance based on previous fractals and the levles become obsolete once they have been breached or have been touched 3 times ...

A multi-timeframe update will be next (this is just single timeframe - 1HR shown)

Paul
Please take your time as quality is best...

Quoting ozziedave
Here is the Barry S&R indicator if any one wants to use it.
Is that the one that doesn't repaint itself, as the regular Barry one did?...
  • #3,506
  • Sep 9, 2008 7:31am Sep 9, 2008 7:31am
Quoting robgsxr
Hi guys I am new here trying to understand the thread and strategy.
Dave you posted an indicator ( s/r ) which hoping you don't mind I attached to MT4 to see how it worked. I am impressed and I wondered is this free to use and if so does it have a time before it ceases to work?
Second what is the calculation ( or the source) it uses in case I ever corrupt my pc again and lose everything: result having to re load again from scratch

Great thread BTW

Rob

Just rechecked back a few pages and realized this was not your indicator Dave......... sorry.
This is the indicator Lou posted as a VT S/R.
Can you help LOU ?
I hate getting used to a good indicator only to lose it

Thanks

Rob
  • #3,507
  • Sep 9, 2008 2:44pm Sep 9, 2008 2:44pm
Guys

Here it is (stage 1) ... 4 inputs

a) Fractal Width default 9
b) Battered default 1
c) Breached default 3
d) BBLimit default 3

The Fractal Width is used to find previous highs with n (the fractal width) previous lower highs and n following lower highs as a potential s/r point. Similarly with lows.

Following the original posts the S/R level becomes obsolete if it gets hit to much. So each time it gets hit but not breached a counter gets incremented by the Battered amount, each a S/R level get crossed the counter gets incremented by the Breached amount. When the counter reaches the BBLimit amount the level ceases to be a valid S/R level. Note the calcs for Support and Resistance are done on each point independently of each other so a point may cease being a support level but can still be a potential resistance level. Note the defaults mean that a level becomes obsolete as soon as it is breached but could be touched (battered) 3 times before it becomes obsolete (providing not breached as well). Anyway have a play .. .any feedback appreciated ... the blue lines on the chart will be support the red resistance.

Best Paul

[ATTACH]
Attached File(s)
File Type: ex4 DerivedFractals.ex4   13 KB | 1,040 downloads
[/ATTACH]
Attached Image (click to enlarge)
Click to Enlarge Name: chf.jpg Size: 338 KB
  • #3,508
  • Sep 9, 2008 7:33pm Sep 9, 2008 7:33pm
Quoting robgsxr
Just rechecked back a few pages and realized this was not your indicator Dave......... sorry.
This is the indicator Lou posted as a VT S/R.
Can you help LOU ?
I hate getting used to a good indicator only to lose it

Thanks

Rob
Hi Rob.

It is a free indicator and will not disappear. Here is the "formula" from VT. I dont know if it is complete. Doesnt seem like enough code. But I have no idea.
Res :=valuewhen(1, Cross(Mov(C, LBP,S),C), HHV(H, LBP));
Sup :=valuewhen(1, Cross(C,Mov(C, LBP,S)), LLV(L, LBP));
  • #3,509
  • Sep 9, 2008 11:11pm Sep 9, 2008 11:11pm
This isn't my best trade. I have a SL of 40 I am at -17 now. It is stalled for the moment, support should hold up, we will see?

I don't get it, indicator for s/r ??? oh well..
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp.gif Size: 50 KB
  • #3,510
  • Sep 9, 2008 11:20pm Sep 9, 2008 11:20pm
Quoting generalz
This isn't my best trade. I have a SL of 40 I am at -17 now. It is stalled for the moment, support should hold up, we will see?

I don't get it, indicator for s/r ??? oh well..
LOL - I have the exact opposite trade at the moment
  • #3,511
  • Sep 10, 2008 1:21am Sep 10, 2008 1:21am
Quoting pmurfin
Guys

Here it is (stage 1) ... 4 inputs

a) Fractal Width default 9
b) Battered default 1
c) Breached default 3
d) BBLimit default 3

The Fractal Width is used to find previous highs with n (the fractal width) previous lower highs and n following lower highs as a potential s/r point. Similarly with lows.

Following the original posts the S/R level becomes obsolete if it gets hit to much. So each time it gets hit but not breached a counter gets incremented by the Battered amount, each a S/R level get crossed the counter gets incremented by the Breached amount. When the counter reaches the BBLimit amount the level ceases to be a valid S/R level. Note the calcs for Support and Resistance are done on each point independently of each other so a point may cease being a support level but can still be a potential resistance level. Note the defaults mean that a level becomes obsolete as soon as it is breached but could be touched (battered) 3 times before it becomes obsolete (providing not breached as well). Anyway have a play .. .any feedback appreciated ... the blue lines on the chart will be support the red resistance.

Best Paul

Hi Paul,
[ATTACH]Attachment [/ATTACH]
I've attached a very good S&R indicator that is multi time frame specific, that is you can apply the S&R lines it finds on the 60 min chart to any time frame. The two issues I have with the indicator are it doesn't delete the horizontal lines when you delete the indicator and re-apply it to the chart. I find this very time consuming to deal with. The second issue is if I choose say to look at the S&R on the 60 min chart and I only want the S&R lines to show up on the 60 min chart it still places them on all time frames. With most indicators you cah use the visualisation tab to choose which time frame chart you want the indicator to show up on.

What I wanted to do with the indictaor is apply it individually to say the 60, 4hr and daily charts ( each time frame can have a different color S&R line). Then what I wanted to be able to do is tick the visualisation box and apply the 4hr S&R lines to say the 60 min and 4 hr chart. Now I can look at the 4hr chart and see where the S&R lines match up from the 60 min and 4 hr time frames. When you get matching S&R lines it's a strong S&R line.

Any of you programmer types want to take a crack at fixing those issues and I think we'd have a bang up S&R indicator to use.

I've attached a screen shot so you can see the two different color and style of lines.
Attached Image (click to enlarge)
Click to Enlarge Name: s&r indicator 21.gif Size: 15 KB
Attached File(s)
File Type: mq4 Support_Resistance v1.mq4   8 KB | 917 downloads
  • #3,512
  • Sep 10, 2008 1:32am Sep 10, 2008 1:32am
Heres one to put on your radars... Long EUR/USD 1.3847-1.3831
Attached Image(s) (click to enlarge)
Click to Enlarge Name: eu daily fib projection.gif Size: 23 KB
Click to Enlarge Name: eu 4 hour.gif Size: 16 KB
Time hides Nothing
  • #3,513
  • Sep 10, 2008 2:46am Sep 10, 2008 2:46am
Quoting CindyXXXX
Heres one to put on your radars... Long EUR/USD 1.3847-1.3831
I share similar view with you...but seem like they are ranging hard for now,..

sonic
  • #3,514
  • Sep 10, 2008 4:14am Sep 10, 2008 4:14am
Yeah I just meant one to keep an eye on in the future... could be hit within the next few weeks
Time hides Nothing
  • #3,515
  • Sep 10, 2008 6:44am Sep 10, 2008 6:44am
Quoting Pennypacker
LOL - I have the exact opposite trade at the moment
thats funny...its 10 hours later and the market can't decide who is right..I was dowm -17 when I posted now at around break even..I am letting it ride ..

good luck
  • #3,516
  • Sep 10, 2008 10:34am Sep 10, 2008 10:34am
Wow, this came so fast!!!

I have to imagine a nice round number like 1.40 is going to be a profit taking spot for some of the bigguns. . . . closely watching for a bounce with an incredibly tight stop
  • #3,517
  • Sep 10, 2008 10:36am Sep 10, 2008 10:36am
Oil is approaching 100$. Not only strong round number, but also very strong support on daily chart (99.39 to be more precise ). I am more and more confident that we will see major bounce in USD related pairs only after this moment. It can happen in next 48 hours.
Good question is if that is true, what EURUSD price level correlates with 100$ (99.39) oil level ????

What do you think
Attached Image (click to enlarge)
Click to Enlarge Name: CL.JPG Size: 133 KB
  • #3,518
  • Sep 10, 2008 10:39am Sep 10, 2008 10:39am
Quoting lemmingboiv2
Wow, this came so fast!!!

I have to imagine a nice round number like 1.40 is going to be a profit taking spot for some of the bigguns. . . . closely watching for a bounce with an incredibly tight stop
Oh Euro you 1.4012 tease. . .maybe 1.40 a little later. . . 1.4054 will be the line to watch for more selling pressure after this retracement and if that fails we can take a step back from the ledge wait till 1.4110-22 to get our sell back on
  • #3,519
  • Sep 10, 2008 5:18pm Sep 10, 2008 5:18pm
Next level on EU I'm looking at to see some support is 1.3925-35. It also seems to correlate with some of the levels on other pairs too, but this looks to be the most clear cut example, although EUR is getting it's hind kicked more than other pairs.
Attached Image (click to enlarge)
Click to Enlarge Name: eusupport.gif Size: 17 KB
  • #3,520
  • Sep 10, 2008 5:44pm Sep 10, 2008 5:44pm
Expect resistance at these levels during the retracement
Attached Image
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