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I updated the post (2 back from this one) about Midas Explorer to clarify some points. I do like it but this is user feedback, not any kind of advertisement. I am genuinely impressed by that product.
Can you help answer these questions from other members on NexusFi?
1) Any given quote must be defined with a PointType. These are High, Low, Both or None.
1.a) A High point is a point for which the previous and post quotes are lower, Low is the opposite, both means both criteria fit (it happens).
2) Later I define a support or resistance line as a quote with a value, starting date, and a tolerance percentage. This means That the next quotes do not necessarily need to "touch" the exact value.
2.a) Every High or Low point is a potencial support or resistance line.
2.b) I define an algorithm to test if if each subsequent quote either, touches, is on the correct side, or is on the wrong side of the line. If it is on the wrong side of the line then the support, or resistance is broken.
2.c) With a "Touch" the line is confirmed.
3.a) One break is allowed and this transforms the line in the opposite (support to resistance and the other way around)
3.b) After the second brake means the line is invalid and I define that date as the ending date for that line.
how many lines will you have depends on the size of your tolerance level, I found out that a value of +-20% works well.
I saw your posts on this subject and wondered what progress you have made in this area since these posts are from 2011 to 2014. I am looking to automate this process in either c#, Python or some other tradeable method.
Hi,
do you think one main factor on these levels might be the $volume of options these market makers have sold at those levels and they need to defend them so that as many as possible of these options are going to expire worthless.
Thanks.
Does anyone know why script creators only allow us to write strategies to BUY or SELL on the next BAR. or at the close of the current BAR At least this is the case
with every strategy I have tried. I have done some in TradeStation and TOS
WHY WHY can we not BUT or SELL at the instant our strategy is set up to trigger?
They have the intrabar setting , however at least on the simulated system LIVE it still only buys on the next bar. Any input? Anyone
Of course TOS won't let us automate anyways
This thread is not about TOS or TradeStation, but it is about programming support and resistance levels in NinjaTrader.
Of course, it is possible to code strategies that execute intra-bar. Not seeing any problems here.
I haven't used TS in years but I remember this too.
Can't remember solution but I do remember creating a work around that used two data feeds. One triggered where you want intrabar on your timeframe and that triggered actual execution on tick data.
