Hi,

I have a free support resistance indicator but there are no plots in it. Could someone code plots like breaking down support: go short
bouncing up support: go long
bouncing down resistance: go short
breaking up resistance: go long
I will also upload the indicator in the ninjatrader 8 section

hal010 

Hi, I have a free support resistance indicator but there are no plots in it. Could someone code plots like breaking down support: go short bouncing up support: go long bouncing down resistance: go short breaking up resistance: go long I will also upload the indicator in the ninjatrader 8 section

I will do it. Send me your request here along with the source code and an exact explanation.

tradevelopers 

I will do it. Send me your request here along with the source code and an exact explanation.

Short and long


Thank you for your help.

hal010 

Short and long Thank you for your help.

"Tell me what you need exactly. Do you need the arrow or the signal?"regards

tradevelopers 

"Tell me what you need exactly. Do you need the arrow or the signal?"regards

Obviously, he does not know an exact crteria (such as what is the definition for a bounce or a breakout) for the code to generate buy/sell arrows. So, a simple definition for a bounce and breakout may look something like the following to filter some of fake signals:

1. For a Bounce - at least a touch of the S/R zone and one bar closing in the direction of the bounce off of the S/R zone, and
2. For a Breakout - at least one bar closes on the other side of the S/R zone in the direction of the breakout.

As for arrows or signals, he may need both, perhaps arrows and a 1, and -1 signals for Market Aanalizer.

Cheers!

aligator 

Obviously, he does not know an exact crteria (such as what is the definition for a bounce or a breakout) for the code to generate buy/sell arrows. So, a simple definition for a bounce and breakout may look something like the following to filter some of fake signals: 1. For a Bounce - at least a touch of the S/R zone and one bar closing in the direction of the bounce off of the S/R zone, and 2. For a Breakout - at least one bar closes on the other side of the S/R zone in the direction of the breakout. As for arrows or signals, he may need both, perhaps arrows and a 1, and -1 signals for Market Aanalizer. Cheers!

Thanks for the help. Could you also program for the bounce/breakout how many times it touches/breaks. And the number of bars after the breakout/touch.

aligator 

Obviously, he does not know an exact crteria (such as what is the definition for a bounce or a breakout) for the code to generate buy/sell arrows. So, a simple definition for a bounce and breakout may look something like the following to filter some of fake signals: 1. For a Bounce - at least a touch of the S/R zone and one bar closing in the direction of the bounce off of the S/R zone, and 2. For a Breakout - at least one bar closes on the other side of the S/R zone in the direction of the breakout. As for arrows or signals, he may need both, perhaps arrows and a 1, and -1 signals for Market Aanalizer. Cheers!

Thanks for the help. Could you also program for the bounce/breakout how many times it touches/breaks. And the number of bars after the breakout/touch.

hal010 

Thanks for the help. Could you also program for the bounce/breakout how many times it touches/breaks. And the number of bars after the breakout/touch.

Not really! More than one or two bounces is an indication that price want to move in its original direction. After a breakout, the price can continue in that direction, retraces back to S/R line, consolidate, rebound back, or turn around for a fake breakout, etc., it all depends on supply/demand and forces behind the move.

It is best to use S/R lines to set profit targets or stops for risk mangement, instead of using S/Rs for entering trades.

Cheers!

aligator 

Not really! More than one or two bounces is an indication that price want to move in its original direction. After a breakout, the price can continue in that direction, retraces back to S/R line, consolidate, rebound back, or turn around for a fake breakout, etc., it all depends on supply/demand and forces behind the move. It is best to use S/R lines to set profit targets or stops for risk mangement, instead of using S/Rs for entering trades. Cheers!

Thanks for the advice.