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Thank you Fat Tails for sharing your know how. I did what you wrote before i post new question very carefully and i was not fully satisfied with content.
Your reply is very common and i ask if somebody has experiance with SR zones in NT code. Do you agree that recognising SR zones in code is different from visual discrecionary?
All concepts of support and resistance rely on self-fulfilling prophecy, it is similar to Keynes' beauty contest: You want to vote for the girl that gets the highest number of votes, not for the girl that you like best.
This means that you basically have to find out what others are doing. If everybody uses yesterday's high or low, then you should use yesterday's high or low. The only difference between the code and the discretionary approach that I see is
-> It is easier to include S/R zones that originate from price action prior to the starting time of the chart via code.
-> It is easier to aggregate S/R zones via code than visually.
Coding also requires that the S/R zone is defined in an explicit and reproducible manner.
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