DislikedSignificant Price Points with Multiple Time Frame Support (also fixed bugs of previous version) SPP_MTF.png;2132319 {file} {image}Ignored
Looking for profitable short term trades ...|
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DislikedSignificant Price Points with Multiple Time Frame Support (also fixed bugs of previous version) SPP_MTF.png;2132319 {file} {image}Ignored
Disliked{quote} Nice one abokwaik, but can we have the horizontal lines drawn like rays so we can see where are the starting points of every level for further analysis? Also explain for every setting exactly what is their meaning example, what Weight: Reverse Point means.Ignored
As for the ray option, it would be difficult using the current coding logic.
But I will do it after the project completes if this indicator got selected as the "Best S/R Indicator".
Note that when you place the cursor on any line a tooltip appears showing its time frame and power.
What this indicator needs is a separation of support and resistance lines, because some times and based on the number of lines you select it may show lines only below or only above the current price, so I need to separate the calculation/filtration into two parts, one above the price for resistance lines and one below the price for support lines.
DislikedSince price is not 100% likely to reverse at the S/R levels, I figured that it is much better to use something that dynamically reforms to pick up the tops and bottoms and have lower SL target with bigger target profit. I am using this on a 100 - 25 pips median Renko range bars. Image1.png;2132883 I hope it helps in some way. {image} {file}Ignored
Disliked{quote} ATR Based Support and Resistance Lines EURUSDH1.png;2132563 @GoldTheHun : Kindly Check is this is true. I noticed that 5Min ATR value (7 in your example) is missed from the formula, so I added it in my calculations. formula used for daily support 1 is =DailyOpen - M5ATR(1440)*1*Sqrt(1440/5) formula used for daily support 2 is =DailyOpen - M5ATR(1440)*1.28*Sqrt(1440/5) and so on .. {image} {file}Ignored
Disliked{quote} Here ... I hope you find it useful. Please note that this is not a normal indicator, so we do not need to perform calculations on every tick. {file}Ignored
DislikedTesting Significant Price Points 1 SigPricePoints.png;2132888 {image}Ignored
Disliked{quote} ATR Based Support and Resistance Lines EURUSDH1.png;2132563 @GoldTheHun : Kindly Check is this is true. I noticed that 5Min ATR value (7 in your example) is missed from the formula, so I added it in my calculations. formula used for daily support 1 is =DailyOpen - M5ATR(1440)*1*Sqrt(1440/5) formula used for daily support 2 is =DailyOpen - M5ATR(1440)*1.28*Sqrt(1440/5) and so on .. {image} {file}Ignored
DislikedKhalil, Here is a dynamic version of Support and Resistance based on ZigZag EURUSDM5.png;2133317 We again calculate ATR(1400) for 5 minute time frame. Than we do the calculations seen on the pic, counting the bars on ZigZag legs. This would be dynamic calculation showing the expected turning point of the live leg of the zigzag. Hope it is clear.. This should be very interesting.. We could expand this logic for other time frames on chart: 1 Minute = ATR(7200) (1 week) 5 Minute = ATR(1400) (1 week) 15 Minute =ATR(480) (1 week) 30 Minute= ATR(240)...Ignored
Disliked{quote} nice idea to accumulate buy and sell ..... and go on trade in profitsIgnored
Dislikedperfect it is .. but any differentiation between res and sup... like dotted line and dash line or in color... anything as per your best knowledge {image}Ignored
QuoteDislikedWhat this indicator needs is a separation of support and resistance lines, because some times and based on the number of lines you select it may show lines only below or only above the current price, so I need to separate the calculation/filtration into two parts, one above the price for resistance lines and one below the price for support lines.
Disliked{quote} Those lines have different roles at different times, if they are below the price we expect them to act as support, if they are above we expect them to act as resistance. My approach is to not to trade the touch of these lines, but to trade the price action around these lines. The screen shot I posted this morning (check previous page) was taken real time after price bounced at these lines with convening reversal formation. These two trades reach 90+pips some time today, and never hit SL (above formation high for EURUSD and below formation...Ignored
DislikedOne other important feature the "SPP" indicator is still missing, and I added it as an input "for future use" to remind myself to code it is the Accuracy Points, or better named as Merge Level. Currently the indicator treats each price point individually, while my idea at the beginning of the thread was the "zone" concept, where I will merge adjacent SPPs (Significant Price Points) into one SZ (Significant Zone).Ignored
DislikedTesting Significant Price Points 1 SigPricePoints.png;2132888 {image}Ignored
DislikedHi abokwaik I think this indicator will suitale for you. Try it you will see which one need modify I used it with 240 mins only, look back 21 bars Green pips for u Cheers SR Levels v1.1.mq4;2130553USDJPYH1.png;2130551 {image} {file}Ignored