Auto Support and Resistance in EasyLanguage - EasyLanguage Programming | futures io social day trading
futures io futures trading


Auto Support and Resistance in EasyLanguage
Updated: Views / Replies:3,971 / 4
Created: by h4nk Attachments:1

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 90,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Auto Support and Resistance in EasyLanguage

  #1 (permalink)
Trading Apprentice
Jakarta, Indonesia
 
Futures 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

Hi,

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.

Hank

Reply With Quote
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Elite Member
Sanjose, CA
 
Futures Experience: Beginner
Platform: TradeStation
Favorite Futures: TF, YM
 
Posts: 21 since Dec 2009
Thanks: 55 given, 11 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?

my2cents.

Reply With Quote
 
  #4 (permalink)
Trading Apprentice
Jakarta, Indonesia
 
Futures Experience: Intermediate
Platform: OEC Trader, thinkDesktop and MultiCharts
Favorite Futures: ES and Options
 
Posts: 2 since May 2011
Thanks: 0 given, 0 received

Hi,

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.

Hank

Attached Thumbnails
Auto Support and Resistance in EasyLanguage-esz1daily.jpg  
Reply With Quote
 
  #5 (permalink)
Site Administrator
Manta, Ecuador
 
Futures Experience: Advanced
Platform: My own custom solution
Favorite Futures: E-mini ES S&P 500
 
Big Mike's Avatar
 
Posts: 46,240 since Jun 2009
Thanks: 29,353 given, 83,234 received

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).

Mike

Due to time constraints, please do not PM me if your question can be resolved or answered on the forum.

Need help?
1) Stop changing things. No new indicators, charts, or methods. Be consistent with what is in front of you first.
2) Start a journal and post to it daily with the trades you made to show your strengths and weaknesses.
3) Set goals for yourself to reach daily. Make them about how you trade, not how much money you make.
4) Accept responsibility for your actions. Stop looking elsewhere to explain away poor performance.
5) Where to start as a trader? Watch this webinar and read this thread for hundreds of questions and answers.
6)
Help using the forum? Watch this video to learn general tips on using the site.

If you want
to support our community, become an Elite Member.

Reply With Quote
The following user says Thank You to Big Mike for this post:

Reply



futures io > > > > > Auto Support and Resistance in EasyLanguage

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)

Jigsaw Trading: TBA

Elite only

FuturesTrader71: TBA

Elite only

NinjaTrader: TBA

Jan 18

RandBots: TBA

Jan 23

GFF Brokers & CME Group: Futures & Bitcoin

Elite only

Adam Grimes: TBA

Elite only

Ran Aroussi: TBA

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
Volume level support and resistance (EasyLanguage) Big Mike EasyLanguage Programming 41 October 18th, 2016 03:50 PM
Support and Resistance tony2009 Traders Hideout 13 July 8th, 2011 07:12 PM
Support Resistance Break emini_Holy_Grail Traders Hideout 3 June 4th, 2010 07:51 AM
Support / Resistance indicator? tberwick Traders Hideout 10 April 19th, 2010 12:49 PM


All times are GMT -4. The time now is 01:41 AM.

Copyright © 2017 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2017-12-16 in 0.09 seconds with 20 queries on phoenix via your IP 23.22.136.56