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Auto Support and Resistance in EasyLanguage
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Auto Support and Resistance in EasyLanguage

Trading Apprentice
Jakarta, Indonesia
Trading Experience: Intermediate
Platform: OEC Trader, thinkDesktop and MultiCharts
Favorite Futures: ES and Options
Posts: 2 since May 2011
Thanks: 0 given, 0 received

Auto Support and Resistance in EasyLanguage


I am a MultiCharts and EasyLanguage beginner. I am trying to program an indicator to automatically draw support and resistance lines on a candlestick chart based on visible past price action of a single time frame, for example daily. Does anyone know simple and reliable math formulas to determine support and resistance levels? I am not a math expert, so I am struggling to figure out an algorithm to do this. While I can easily draw support and resistance lines by hand, figuring a math formula to do this is much harder than I thought. Thanks for reading my post, this is my first post. I hope this post can help other traders with similar need.


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Elite Member
Sanjose, CA
Trading Experience: Beginner
Platform: TradeStation
Favorite Futures: TF, YM
Posts: 22 since Dec 2009
Thanks: 56 given, 12 received

First of all, you need to post the example chart with Support/Resistance lines which you manually drew.

Secondly, tell the reason why you choose to pick that special candle for starting to draw the S/R.

Third, do you want those S/Rs stop to draw somewhere?


Trading Apprentice
Jakarta, Indonesia
Trading Experience: Intermediate
Platform: OEC Trader, thinkDesktop and MultiCharts
Favorite Futures: ES and Options
Posts: 2 since May 2011
Thanks: 0 given, 0 received


I attached an image ESZ1daily.jpg as an example of support and resistance lines I manually drew. I chose daily candlestick to draw support and resistance on because I found it to be useful for determining major support and resistance for day trading purposes. Support and resistance lines, once discovered must extend to the right infinitely.


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Auto Support and Resistance in EasyLanguage-esz1daily.jpg  
Site Administrator
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Big Mike's Avatar
Posts: 46,930 since Jun 2009
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Start by describing in plain english how you calculate support and resistance, then someone can probably help you turn it into an indicator if it is consistent enough (not subjective).


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