Support & Resistence Indicator

[slableak 10]

I was looking for a support and resistence indicator. It draws a blue line above and a magenta line below the price. Is it listed on this forum?

 

thanks,

 

David

[Blu-Ray 10]

David

 

I think you'll need to be a bit more specific in your requirements, for example........ blue line above price, which price? ................ What platform?.....................

 

 

Cheers

 

Blu-Ray

[JT1 10]

For what platform?

[slableak 10]

It is for Trade Station

[ckait 10]

are you a plumber?

[3monkeys 10]

Slab, This is usually a swinghighbar, swinglowbar level plots. You can find more answers by searching this (eg. "swing high low") and the TS forum for the indicator you seek.

 

For example, the following was contributed by John Mc. on the TS forum.

plot a line (or a series of points) at the swing high price and the swing low price until the next swing high and swing low happens and then start plotting from that price at where it happened

 

20080602231659SWINGHILO.ELD

[goody01 10]

Hi,

 

is there a Support & Resistance Indicator around for TS that allows to draw the major S/R lines to be taken out from different timeframes on a specify chart, lets says show the S/R lines of 5min, 15min, 60min and 240min all together on a 1min chart?

 

Any code for this available?

 

Many thanks,

 

Goody

[BlowFish 10]

Hi,

 

is there a Support & Resistance Indicator around for TS that allows to draw the major S/R lines to be taken out from different timeframes on a specify chart, lets says show the S/R lines of 5min, 15min, 60min and 240min all together on a 1min chart?

 

Any code for this available?

 

Many thanks,

 

Goody

 

You could apply the indicator several times with a different swing length parameter. So for example to get hourly swings on a 1 min try a parameter of say 180 for swing length.

[goody01 10]

Hi Blowfish,

 

thank you for the recommendation.

Not sure if that will work and what length to be taken to get the corresponding timeframes. Why 180 for 60 min on 1min chart?

 

I am looking for a way to plot horizontal lines like for floor pivots to show the different highs and lows. Here you only get a couple of plots and then they are lost when chart moves on to the left, but the levels still exists and may have a relevance in the near future as they are not taken out so far.

 

Thx,

 

Goody

[BlowFish 10]

I think you mean market structure pivots? Floor pivots are something different. This thread is about the former from what I can tell.

 

a 180 bar highest high on a 1 minute chart is similar (but not the same) as a 3 bar high on an hourly chart. Depending on how the code is done you can get a good approximation like this. Some would argue a 'sliding window' of 180 minutes on a 1 minute chart would give better results than arbitrary hour bars. It's all about how you sample what is actually continuous data. There is another thread somewhere that talks about swing high swing low detection that might be of interest.

[goody01 10]

Thx you Blowfish,

 

will see what I get with it using that ratio.

I am looking for market structure pivots, yes, the floor trader pivot was just mentioned as a kind of examples for ongoing horizontal lines instead of the few points plotted like with this indicator.

 

So thx again for your feedaback and help.

 

Good luck,

 

Goody