Need Best Support and Resistance Indicator
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Thread: Need Best Support and Resistance Indicator

  1. #1
    Is there a Service and Resistance Indior?
    What is the best one?

    What I am searching for is something that can recognize support and resistance zones that are very close to the ones made by expert traders.
    I am ready to develop this kind of indior if it's unavailable, or enhance the existing one if any.

    This is an RD work, and all findings will be shared here.

  2. #2
    91057
    Quote Originally Posted by ;
    You simply need filter big motion. Rest of areas are consolidation. Later you can perform like catch ( range areas ) or take high/low of last 2 range areas for create an S/R tool. You're coder, I'm sure you will find methods to filter big movements picture picture
    Very good and valid purpose.

    Ranges are great places to locate S/R zones.
    But maybe not small miniature ranges with low volume.
    A legal range should comprise trendy moves enclosed involving it upper and lower borders.
    These edged later authentic breakout act as S/R zone most of the time.

  3. #3
    91057
    Quote Originally Posted by ;
    quote Really good and valid purpose. Ranges are great areas. However, not small miniature ranges with quantity. A valid range must comprise moves enclosed involving it upper and lower borders. These edged after authentic breakout behave as S/R zone the majority of the time.
    How you build and handle those range areas creates the different behaviors. But foundation don't change. Big movements are breakout movements. And breakouts always happens between 2 consolidation areas. And traditional support/resistance areas always take distance between both range places
    Â
    Apparently you can play with different rules for produce a wide range of behaviors. But only with rule I advised earlier you can make out of box application ( you don't need use different settings for every pair ). It is adaptative

  4. #4
    910571 Structure (s)
    Quote Originally Posted by ;
    quote Very good and valid point. Ranges are great places to find S/R zones. But not small tiny ranges with low volume. A valid range should comprise moves enclosed upper and lower edges. These edged after true breakout act as S/R zone most of the time.
    Recent Example : USDCHF Daily


  5. #5
    The expression best depends on how you intend to classify identified areas of support and resistance areas?

    For example what things to you:Just how many times it's had been struck? Do you consider the place flipped (e.g. support becomes resistance or resistance becomes support) after its broken? What variables are you searching for to earn a level valid e.g. just one touch or many touches etc? I search for:Levels have no touches and hence have reversed. I consider time and price movement before the level is re-tested e.g. thickness of swing etc.. Levels with over one touches I search for divergence (any momentum oscillator will do). Not So in short.... What are the criteria you want this indior to fill?


    .

  6. #6
    910572 Structure (s)
    Quote Originally Posted by ;
    quote Present Case: USDCHF Daily picture
    First capture 5 days starting last moment. Second capture 5 times starting. Take fourth day day low channel lineup and high station lineup and you have a S/R area. Or you may take station lines extremes if you would like include high/low prices. Same areas, different behavior depending rules


  7. #7
    91057
    Quote Originally Posted by ;
    * Just how many times it been struck?
    Yes.
    The number of occasions price bends at these zones is a significant element.
    But I am not interested in repetitive bends at a short time period.
    Price should travel a substantial distance after the bend.

    Quote Originally Posted by ;
    * Can you consider the region flipped (e.g. service becomes resistance or resistance becomes service ) after its broken?
    Yes.
    Price has memory and will continue to remember these zones.
    Zones will probably be broken sooner or later, but they'll continue to maintain value.
    The trading system that will use these zones, will not trade the zones, so it will observe price action around these zones, and acts accordingly.

  8. #8
    91057 Not for a moment stating the market moves in 10 percent but all I am saying is it concerning maneuver, now if I can capture 10,20,30,% goes with a fantastic sensible MM must have a chance to earn a few quid, Braintheboss makes great sensible hints were to begin my own (grid) from cannot argue that point, but I am just like I say attempting to play Monthly, Weekly and Daily ranges

  9. #9
    91057Support and resistance. Not vertical lines and horizontal lines! .

  10. #10
    91057
    Quote Originally Posted by ;
    Not for a Moment saying That the market moves in 10 Percent but all I am saying is it as to Maneuver, now if I Will Catch 10,20,30,% Goes with a good sensible MM must have a Opportunity to make a few quid, Braintheboss makes good sensible suggestions were to start My Own (grid) from Ca N't argue That point, but I am just like I say Wanting to play with Monthly, Weekly and Daily ranges image
    Personally I don't like fixed Amounts like pivots or fibos because Most Occasions S/R Amounts are at different Location and they take a single price point, not an area

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