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Need Best Support and Resistance Indicator

  • #81
  • Jan 6, 2017 11:22am Jan 6, 2017 11:22am
Quoting abokwaik
Thanks for the contributions, I will test the shared indicators. Valid zones as I see them, should: visible using line chart (close price) acted at least 2 times as resistance or support or at least 1 time as resistance and 1 time as support the more touches these zones have the stronger the become should be distributed fairly on the chart (not many and not so close together)




My opinion on this thread abokwaik is that you still haven't made a test on the original idea which I think it is better from the indicator you have coded. Maybe you should create a second indicator and compare them.
Looking for profitable short term trades ...|
  • #82
  • Jan 6, 2017 11:30am Jan 6, 2017 11:30am
Quoting Js3mwtRc
{quote} My opinion on this thread abokwaik is that you still haven't made a test on the original idea which I think it is better from the indicator you have coded. Maybe you should create a second indicator and compare them.
True.
I am still working on an indicator ...
The one I coded was based on a request from multiple members ... and this was my comment to them :
Quoting abokwaik
{quote} {quote} {quote} Although I am interested -for the current project- in price memory more than price prediction, I will develop the "HPFZ" indicator.
No guts, no glory
  • #83
  • Jan 6, 2017 11:47am Jan 6, 2017 11:47am
Quoting abokwaik
{quote} True. I am still working on an indicator ... The one I coded was based on a request from multiple members ... and this was my comment to them : {quote}
Sorry it wasn't a clear comment for me to suppose that you are still working on the original idea. I'll wait for an update, maybe.
Looking for profitable short term trades ...|
  • #84
  • Jan 6, 2017 10:01pm Jan 6, 2017 10:01pm
Quoting abokwaik
{quote} Done . USDJPYH1.png;2129123 {file} {image}
thank you somuch.
is it worthy use as of the thread's main core?
Success is a Journey Not a Destination....... kind regards ramzam
  • #85
  • Jan 7, 2017 7:45am Jan 7, 2017 7:45am
Quoting ramzam
{quote} thank you somuch. is it worthy use as of the thread's main core?
I don't think so :

  1. It only shows recent zones
  2. zones are too wide

No guts, no glory
  • #86
  • Jan 7, 2017 8:30am Jan 7, 2017 8:30am
The dynamic_sr is the best.
ADVANCED ALIEN CIVILIZATION
Look in the MT4 MOTHERLODE.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #87
  • Jan 7, 2017 8:44am Jan 7, 2017 8:44am
A shameless plug for, from TRO
Live today like theres no tomorrow-- Prioritize like you will die today
  • #88
  • Jan 7, 2017 8:55am Jan 7, 2017 8:55am
Quoting abokwaik
{quote} I don't think so : It only shows recent zones zones are too wide
yes it is too wide. but don't know how to reduce this zone levels ..
Success is a Journey Not a Destination....... kind regards ramzam
  • #89
  • Jan 7, 2017 8:57am Jan 7, 2017 8:57am
Quoting kk100
Abo Just looked my old trade journals, and trying search rules for fibozones.. I found i was trading EU, just look the zones, they become more accurate if using range bars , and not static daily bars. forget everything else from this too much info filled screenshot. : ) {image}
i guess this is gann based
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 172 KB
Success is a Journey Not a Destination....... kind regards ramzam
  • #90
  • Jan 7, 2017 9:23am Jan 7, 2017 9:23am
OK here is my wish list:

  1. Zones not Lines : Trading is an Art more than a Science. Some fuzzy logic would be useful.
  2. Zone size <= ATR of traded time frame
  3. Not too many visible zones on the chart: Number of zones will depend on the chart zoom level. However with max zoom out, over 10 zones will be too much. Ideally 2 from the current time frame is enough
  4. Plotting higher time frame s/r on the current chart makes a lot of sense (those htf zones can be given a higher weight in trading)


Thinking Fuzzy ... Maybe we can use the wick as a zone width, or maybe the upper/lower third or sixth of the candle ... etc.

I would appreciate some professional traders input, those who draw S/R manually .... is there a systematic method used ?

No guts, no glory
  • #91
  • Jan 7, 2017 9:36am Jan 7, 2017 9:36am
Quote
I would appreciate some professional traders input, those who draw S/R manually .... is there a systematic method used ?


If you code an algo to do what a human does when they draw SR, that's when you would get the most significant result. So how do humans draw SR? Well, when looking at a chart we basically look for:

for each price point{

for each bar on the chart{

if the candle shadow touches the price point then we add weighting to the price point

if the price reverses at the price point we add more weighting

if there is generally a lot of candle bodies at the price point we subtract weighting


You don't need fuzzy logic you just need the right algo
  • #92
  • Jan 7, 2017 9:50am Jan 7, 2017 9:50am
Quoting Nicholishen
{quote} If you code an algo to do what a human does when they draw SR, that's when you would get the most significant result. So how do humans draw SR? Well, when looking at a chart we basically look for: for each price point{ for each bar on the chart{ if the candle shadow touches the price point then we add weighting to the price point if the price reverses at the price point we add more weighting if there is generally a lot of candle bodies at the price point we subtract weighting You don't need fuzzy logic you just need the right algo
Thanks for your input ...
The method you described looks more robotic than human ... it would be too difficult (for my brain) to count/add/subtract the touches at each price point ...
Are you sure you are a human

Well, one "human" way I know about is to scan the time frames from top to down ...
So if we are trading H1, we start with the Monthly and plot S/R lines where price reverses ,,, then we do the same on the Weekly, Daily, H4, and we flag each level by its time frame code.
No guts, no glory
  • #93
  • Jan 7, 2017 9:58am Jan 7, 2017 9:58am
Quoting iamsovereign
A shameless plug for, from TRO
Check the files you uploaded.
You posted one of the indicators he modified to FF when he asks that his code not be posted.
Talk about shameless!
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #94
  • Jan 7, 2017 10:00am Jan 7, 2017 10:00am
Quoting abokwaik
OK here is my wish list: Zones not Lines : Trading is an Art more than a Science. Some fuzzy logic would be useful. Zone size <= ATR of traded time frame Not too many visible zones on the chart: Number of zones will depend on the chart zoom level. However with max zoom out, over 10 zones will be too much. Ideally 2 from the current time frame is enough Plotting higher time frame s/r on the current chart makes a lot of sense (those htf zones can be given a higher weight in trading) Thinking Fuzzy ... Maybe we can use the wick as a zone width, or...
ATR ZONE superior to ATR.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #95
  • Edited 11:15am Jan 7, 2017 10:03am | Edited 11:15am
Quoting abokwaik
{quote} Done . USDJPYH1.png;2129123 {file} {image}
is this indicator useful means you can have a glance i took from one page
Attached File(s)
File Type: mq4 SSSR_PROVEN.mq4   34 KB | 3,238 downloads
File Type: mq4 SSSR_TURNCOAT.mq4   30 KB | 2,894 downloads
File Type: mq4 SSSR_UNTESTED.mq4   35 KB | 2,796 downloads
File Type: mq4 SSSR_VERIFIED.mq4   35 KB | 3,423 downloads
Success is a Journey Not a Destination....... kind regards ramzam
  • #96
  • Jan 7, 2017 10:06am Jan 7, 2017 10:06am
Quoting abokwaik
{quote} Thanks for your input ... The method you described looks more robotic than human ... it would be too difficult (for my brain) to count/add/subtract the touches at each price point ... Are you sure you are a human Well, one "human" way I know about is to scan the time frames from top to down ... So if we are trading H1, we start with the Monthly and plot S/R lines where price reverses ,,, then we do the same on the Weekly, Daily, H4, and we flag each level by its time frame code.
PRICE OCCURS
ABOVE BELOW
CROSS ABOVE BELOW
This was done years ago by s

Price reversing on one time frame reverses on all.
Can't be going up and down at the same time.
Draw a line.
That's all.
My Threads: Trading is as simple as 1-2-3, Highest Open / Lowest Open Trade
  • #97
  • Jan 7, 2017 10:10am Jan 7, 2017 10:10am
Quoting TooSlow
{quote} Check the files you uploaded. You posted one of the indicators he modified to FF when he asks that his code not be posted. Talk about shameless!
I posted one mod TRo indi that I got here, free on FF

I don't pay for indicators, I make my money trading, not selling mod inids
and since you are not TRO, its non of your business....
Live today like theres no tomorrow-- Prioritize like you will die today
  • #98
  • Jan 7, 2017 10:43am Jan 7, 2017 10:43am
Quoting abokwaik
OK here is my wish list: Zones not Lines : Trading is an Art more than a Science. Some fuzzy logic would be useful. Zone size <= ATR of traded time frame Not too many visible zones on the chart: Number of zones will depend on the chart zoom level. However with max zoom out, over 10 zones will be too much. Ideally 2 from the current time frame is enough Plotting higher time frame s/r on the current chart makes a lot of sense (those htf zones can be given a higher weight in trading) Thinking Fuzzy ... Maybe we can use the wick as a zone width, or...
This idea is from a supply demand thread here in FF. For resistance plot a rectangle from the open to the top of the last bullish candle and for support the same idea with the last bearish candle. If the last candle is very big just use the last 1/3 of the candle for drawing.
Looking for profitable short term trades ...|
  • #99
  • Jan 7, 2017 10:46am Jan 7, 2017 10:46am
this is also one taken from ff. but it is error... if it is useful please have a glance
Attached File(s)
File Type: mq4 sampr_areas.mq4   3 KB | 1,897 downloads
Success is a Journey Not a Destination....... kind regards ramzam
  • #100
  • Jan 7, 2017 10:59am Jan 7, 2017 10:59am
Quoting abokwaik
Maybe we can use the wick as a zone width
Hi, Abokwaik

All of yout wishes could be helpful, I think.

1/ Trading futures (since futures have lower lovatility), I must say, the better identification of a breakthrough is when you have the breakthrough of the wick zone (i.e. high-close price and close - low price) followed by the close price's fixing below/above the low/high of a candle taken from the higher timeframe.

2/ In order for you check I upload one well-known zone indicator.

Best
D.P.
Attached File(s)
File Type: ex4 II_SupDemMOD_DarkBG_SolidFill.ex4   19 KB | 2,738 downloads
File Type: mq4 II_SupDemMOD_DarkBG_SolidFill.mq4   29 KB | 3,687 downloads
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