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Indicator for S&R?


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 JMoniker 
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Would there be an indicator that does the following?

On a given chart, let's say a 5 day, 5 minute chart, the indicator will draw lines based on all candles that closed or opened at the same price. Or the same for wicks. So a horizontal line would be drawn based on X number of times a wick touches the same spot. Let's say in a 5 day period on a 5 minute chart, wicks hit multiple times at $2700.25. It was both support and resistance throughout the 5 day period. It hit 8 times during this five day period for example, so a line is generated. This could be for any chart or time frame. It just seeks to find prices that hit many times in the same spot, doesn't matter which way it reverses, it only finds touches of the same price. I feel like there has to be an indicator that scans for multiple closes/opens throughout the chart. Or perhaps a way to fine tune the Pivots indicator already included to where I can set the number of times a price has to be touched?


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  #2 (permalink)
 
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 xplorer 
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JMoniker View Post
Would there be an indicator that does the following?

On a given chart, let's say a 5 day, 5 minute chart, the indicator will draw lines based on all candles that closed or opened at the same price. Or the same for wicks. So a horizontal line would be drawn based on X number of times a wick touches the same spot. Let's say in a 5 day period on a 5 minute chart, wicks hit multiple times at $2700.25. It was both support and resistance throughout the 5 day period. It hit 8 times during this five day period for example, so a line is generated. This could be for any chart or time frame. It just seeks to find prices that hit many times in the same spot, doesn't matter which way it reverses, it only finds touches of the same price. I feel like there has to be an indicator that scans for multiple closes/opens throughout the chart. Or perhaps a way to fine tune the Pivots indicator already included to where I can set the number of times a price has to be touched?

Have you tried the Swing Indicator?


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 dk27 
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Or this

https://ninjatraderecosystem.com/user-app-share-download/dynamicsrlines-2/





JMoniker View Post
Would there be an indicator that does the following?

On a given chart, let's say a 5 day, 5 minute chart, the indicator will draw lines based on all candles that closed or opened at the same price. Or the same for wicks. So a horizontal line would be drawn based on X number of times a wick touches the same spot. Let's say in a 5 day period on a 5 minute chart, wicks hit multiple times at $2700.25. It was both support and resistance throughout the 5 day period. It hit 8 times during this five day period for example, so a line is generated. This could be for any chart or time frame. It just seeks to find prices that hit many times in the same spot, doesn't matter which way it reverses, it only finds touches of the same price. I feel like there has to be an indicator that scans for multiple closes/opens throughout the chart. Or perhaps a way to fine tune the Pivots indicator already included to where I can set the number of times a price has to be touched?


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Last Updated on November 4, 2018


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