Support and resistance indicator - NinjaTrader Programming | futures io social day trading
futures io futures trading


Support and resistance indicator
Updated: Views / Replies:14,889 / 63
Created: by Adamus Attachments:15

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 – 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 don’t 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
 15  
 
Thread Tools Search this Thread
 

Support and resistance indicator

  #11 (permalink)
Elite Member
London, UK
 
Futures Experience: Beginner
Platform: NinjaTrader, home-grown Java
Broker/Data: IB/IQFeed
Favorite Futures: EUR/USD
 
Adamus's Avatar
 
Posts: 1,085 since Dec 2010
Thanks: 470 given, 778 received

Ken,

do you use this Swing Indicator? Just looking at it, I wonder whether it shows some sort indicator of chop or the extent of choppiness, like how many times the swing count is broken?

You can discover what your enemy fears most by observing the means he uses to frighten you.
Reply With Quote
 
  #12 (permalink)
Elite Member
London, UK
 
Futures Experience: Beginner
Platform: NinjaTrader, home-grown Java
Broker/Data: IB/IQFeed
Favorite Futures: EUR/USD
 
Adamus's Avatar
 
Posts: 1,085 since Dec 2010
Thanks: 470 given, 778 received

Totally re-wrote the indicator along the lines I outlined. Turned out to be best to do it a bit differently.

It's all in one indicator, there was no point in making seperate indicators for different components that would generate the price levels. Now I've got a new Plot() overriding the original. Took a bit of head-scratching and there were a few NinjaTrader built-in problems. A lot of it is unsupported which means NinjaTrader reserve the right to change NinjaScript in ways that will foobar the indie, but that's the only way it can be done.

Having some major problems debugging the session times for the session highs/lows S/R lines I want to include. Print() is not the quickest way to debug. Otherwise I thought I'd have another version to post here. Will have to wait til tomorrow.

You can discover what your enemy fears most by observing the means he uses to frighten you.
Reply With Quote
 
  #13 (permalink)
Elite Member
Michigan, Jackson
 
Futures Experience: Intermediate
Platform: NT and TS
Broker/Data: NT Continuum
Favorite Futures: ES, CL
 
Posts: 858 since Jul 2009
Thanks: 389 given, 547 received



Adamus View Post
Ken,

do you use this Swing Indicator? Just looking at it, I wonder whether it shows some sort indicator of chop or the extent of choppiness, like how many times the swing count is broken?

Adamus,

Apology for the late reply. I use the Price Action Swing Pro (PAS). I am only using the Volume information from it.

Actually, I will need to have it recoded to align with the subpanel indicator. It doesn't recognize the double tops/bottoms my indicator points out. A dbl top or dbl bottom cannot be taken unless price has moved at least within a 4 tick span.

I've also discovered a divergence trade setup using the same subpanel indie. I call it "Kbar"

I believe these two setups can be accomplished from within the PAS or swing indicator.

I included a couple of picks to show the accuracy of this Algo on the ES. It would be a nice algo to run were it properly set up.

Ken "COTtrader"

Attached Thumbnails
Support and resistance indicator-kbars.png   Support and resistance indicator-doublebtmtps.png  
Reply With Quote
The following user says Thank You to COTtrader for this post:
 
  #14 (permalink)
Elite Member
London, UK
 
Futures Experience: Beginner
Platform: NinjaTrader, home-grown Java
Broker/Data: IB/IQFeed
Favorite Futures: EUR/USD
 
Adamus's Avatar
 
Posts: 1,085 since Dec 2010
Thanks: 470 given, 778 received

Thanks @COTtrader, thanks for the input. That's something I'll have to look at later. At this point I'm haven't got as far as something as relatively complex as double bottoms. The swing points I coded the indie to recognise are all single.

I'm putting up version 3.

All the code is in the one indicator. It's getting big, unavoidable though. I've now made it load up user-defined amounts of different time-frame bars to scan for swing points. There's 15 mins, 30mins, 60mins, 120mins, 240mins, daily and weekly to choose from.

Plus I've added the ability to define the high and low for two user-defined "sub-sessions", putting in the start and finish times.

Plus it marks round numbers.

The worst part is the fiddley stuff, and there's much more of the fiddley stuff to be done.

The first thing that is noticeable is that the labels just overlap when space is tight and it becomes illegible.

Later one I'll re-write the list of functionality still required.

Please register on futures.io to view futures trading content such as post attachment(s), image(s), and screenshot(s).

You can discover what your enemy fears most by observing the means he uses to frighten you.
Reply With Quote
The following user says Thank You to Adamus for this post:
 
  #15 (permalink)
Elite Member
London, UK
 
Futures Experience: Beginner
Platform: NinjaTrader, home-grown Java
Broker/Data: IB/IQFeed
Favorite Futures: EUR/USD
 
Adamus's Avatar
 
Posts: 1,085 since Dec 2010
Thanks: 470 given, 778 received

Hi @Abde,

it turns out my original thoughts on keeping indicators seperate was nice but just not possible.

It should be really easy to add user-defined S/R zones, using parameters for price range, date/time range and desired color. I assume it's only 1 you want - what do you use it for?

You can discover what your enemy fears most by observing the means he uses to frighten you.
Reply With Quote
The following user says Thank You to Adamus for this post:
 
  #16 (permalink)
Elite Member
London, UK
 
Futures Experience: Beginner
Platform: NinjaTrader, home-grown Java
Broker/Data: IB/IQFeed
Favorite Futures: EUR/USD
 
Adamus's Avatar
 
Posts: 1,085 since Dec 2010
Thanks: 470 given, 778 received

List of things to do, in rough order of importance:
  1. research whether there is any way to have the labels show only on mouse-over of a small part of the line
  2. parameterize how many bars either side of the swing high / low are needed to make it a swing high / low. It's currently fixed at 2, but 3 or 4, or 3 before, 2 after might be better (this might be an effective way to cut down the number of lines)
  3. automatically merge S/R lines that are close together, with a parameter that tells the indie what "close together" actually is in terms of ticks
  4. add a rule to kill off S/R lines when they invalidate themselves - I'll have to go over the charts to work out what best represents a killer event
  5. add the ability to downgrade S/R lines that come from uninteresting hours, e.g. the Asian session during the EUR/USD forex day, by using 3 bars either side for the definition of swing points (might not be so useful, but interesting to try out)
  6. hide S lines below the market on the chart and hide R above it
  7. instead of just a line for a level, create a zone based on how the swing point was formed, e.g. just the tails of the candles, or the hi and low of the small candle in a morning star candlestick pattern etc.
  8. create a dataseries property with all the levels in, which a strategy can call


Taking care of the labels is the worst on the list because I have no idea how to do it, but there's got to be a way. Doubt I'll get any help from NinjaTrader Support on it. I'm hoping they'll have an example they can give me rather than just a straight "sorry that is unsupported".

You can discover what your enemy fears most by observing the means he uses to frighten you.
Reply With Quote
 
  #17 (permalink)
Elite Member
Germany
 
Futures Experience: Intermediate
Platform: FlatTrader
Broker/Data: GFT and Interactive Brokers
Favorite Futures: ES, DAX
 
Posts: 531 since Aug 2010
Thanks: 2,121 given, 719 received


Adamus View Post
Hi @Abde,

it turns out my original thoughts on keeping indicators seperate was nice but just not possible.

It should be really easy to add user-defined S/R zones, using parameters for price range, date/time range and desired color. I assume it's only 1 you want - what do you use it for?

Hi @Adamus,

no I didnīt mean only 1 but rather generally for all lines, though after rethinking that, itīs not reasonable. It would only make sense to apply it for the weekly S/R levels and perhaps for the daily. Then the opacity of the desired color and the tick offset from the mean should be user definable.

The thought behind the zones is to create buy and sell areas because the price often exceed the S/R levels only to come back and go the other way (false breakouts).
It is posiible to add also monthly S/R levels?

Reply With Quote
 
  #18 (permalink)
Elite Member
London, UK
 
Futures Experience: Beginner
Platform: NinjaTrader, home-grown Java
Broker/Data: IB/IQFeed
Favorite Futures: EUR/USD
 
Adamus's Avatar
 
Posts: 1,085 since Dec 2010
Thanks: 470 given, 778 received


Abde View Post
Hi @Adamus,

no I didnīt mean only 1 but rather generally for all lines, though after rethinking that, itīs not reasonable. It would only make sense to apply it for the weekly S/R levels and perhaps for the daily. Then the opacity of the desired color and the tick offset from the mean should be user definable.

The thought behind the zones is to create buy and sell areas because the price often exceed the S/R levels only to come back and go the other way (false breakouts).
It is posiible to add also monthly S/R levels?

Adding monthly S/R levels shouldn't take more than 15 mins to add. I should be able to do that at some point soon even though the labels and the merging the close-together zones is a pretty big priority right now - I find I'm only using it for session highs and lows at the moment because of too many lines from the 60min time-frame alone.

I didn't understand the rest of what you said - apart from the bit about break-outs. What's the tick offset from the mean in terms of S/R levels?

You can discover what your enemy fears most by observing the means he uses to frighten you.
Reply With Quote
The following user says Thank You to Adamus for this post:
 
  #19 (permalink)
Elite Member
Germany
 
Futures Experience: Intermediate
Platform: FlatTrader
Broker/Data: GFT and Interactive Brokers
Favorite Futures: ES, DAX
 
Posts: 531 since Aug 2010
Thanks: 2,121 given, 719 received


Adamus View Post
Adding monthly S/R levels shouldn't take more than 15 mins to add. I should be able to do that at some point soon even though the labels and the merging the close-together zones is a pretty big priority right now - I find I'm only using it for session highs and lows at the moment because of too many lines from the 60min time-frame alone.

I didn't understand the rest of what you said - apart from the bit about break-outs. What's the tick offset from the mean in terms of S/R levels?

@Adamus,

I am sorry that I explained it a bit complicated. Assuming that the S/R level is 100 and 5 tick offset is choosed, the zone display would be from 95 to 105. Five tick above and five tick below the S/R number. I hope itīs understandable now.

Reply With Quote
The following user says Thank You to Abde for this post:
 
  #20 (permalink)
Elite Member
SP/Brazil
 
Futures Experience: Advanced
Platform: Ninja Trader
Favorite Futures: Futures
 
Posts: 5 since Jan 2013
Thanks: 0 given, 3 received


Hi @Adamus,

It is possible to only plot the lines of support and resistance for a range chart without looking to a 15 minute candle chart? when i tried it plotted a lot of lines and my ninja didnt respond for 5 minutes. I just want it to plot the last 3 days Sup/Res lines.

Thanks!

fcg237

Reply With Quote

Reply



futures io > > > > > Support and resistance indicator

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
A different look at Support and Resistance Xav1029 The Elite Circle 18 September 1st, 2012 07:07 AM
Support and Resistance SpyderTrader NinjaTrader Programming 11 May 13th, 2012 05:24 PM
Support and Resistance tony2009 Traders Hideout 13 July 8th, 2011 07:12 PM
Support / Resistance indicator? tberwick Traders Hideout 10 April 19th, 2010 12:49 PM


All times are GMT -4. The time now is 10:49 PM.

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 2017-12-13 in 0.15 seconds with 20 queries on phoenix via your IP 54.226.113.250