"All" Support/Resistance . Is this theoretically possible? - NinjaTrader Programming | futures io social day trading
futures io futures trading


"All" Support/Resistance . Is this theoretically possible?
Updated: Views / Replies:1,550 / 14
Created: by Sufyan Attachments:5

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
 5  
 
Thread Tools Search this Thread
 

"All" Support/Resistance . Is this theoretically possible?

  #1 (permalink)
Elite Member
toronto
 
Futures Experience: Intermediate
Platform: metatrader
Favorite Futures: forex
 
Posts: 22 since Oct 2013
Thanks: 0 given, 29 received

"All" Support/Resistance . Is this theoretically possible?

Hi guys, I dont know anything about programming so please bear with my questions sound dumb.

I had an idea for an indicator but I dont know if its possible.

Essentially the indicator would plot ALL horizontal support and resistance lines over a specified look-back period.

In order to define what support/resistance is, I would probably use fractals.

Essentially a support or resistance would be defined as the low or high of a level 5 fractal.

(In case anyone is not familiar with fractals, and how they are defined, please see my drawing below)

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



Lets assume that the lookback period is 5,000 bars.

The indicator would look for all the level 5 fractals over the last 5000 bars, and draw a horizontal line at the high or low defining that fractal.

I want my screen to be literally covered in hundreds of historical horizontal lines.

The idea being that I can instantly get a visual idea of where historical support and resistance is, and how strong that support/resistance is simply by gauging how "thick" the clustering of horizontal lines are in a particular region.

If you want fewer lines, simply specify a higher fractal level (eg level 30 fractal), and If I want even MORE lines, simply use a lower fractal like level 2 fractal).

Basically you might call it a kind of heat-map based on horizontal lines. (These horizontal lines would need to be on chart background so as not to obscure the candles, and would need to be "non-clickable" so that every time you click on the chart you are not highlighting a horizontal line).

Any feedback would be appreciated.
Thanks


Last edited by Sufyan; February 17th, 2015 at 02:25 PM.
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)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,218 since Jun 2009
Thanks: 628 given, 6,315 received
Forum Reputation: Legendary



Sufyan View Post
Hi guys, I dont know anything about programming so please bear with my questions sound dumb.

I had an idea for an indicator but I dont know if its possible.
...

Any feedback would be appreciated.
Thanks

try eSwingRays
https://futures.io/elite-trading-journals/16622-price-action-journal-strategies-13.html#post211422

Reply With Quote
 
  #4 (permalink)
Elite Member
toronto
 
Futures Experience: Intermediate
Platform: metatrader
Favorite Futures: forex
 
Posts: 22 since Oct 2013
Thanks: 0 given, 29 received



Hi cory, Thanks for the info, but that indicator is only half-way there.

It indeed plots the horizontal lines the way I described (using fractals), but the problem with that indicator is that the horizontal lines are erased as soon as they are broken.

I want the horizontal lines to persist; so that over a large period sample (like hundreds or thousands of bars), we get a mass of horizontal lines which create a heat-map style effect on the screen.

Reply With Quote
 
  #5 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,218 since Jun 2009
Thanks: 628 given, 6,315 received
Forum Reputation: Legendary


Sufyan View Post
Hi cory, Thanks for the info, but that indicator is only half-way there.

...

use key word 'swingray'
https://futures.io/search/attachments/

Reply With Quote
 
  #6 (permalink)
Elite Member
toronto
 
Futures Experience: Intermediate
Platform: metatrader
Favorite Futures: forex
 
Posts: 22 since Oct 2013
Thanks: 0 given, 29 received


cory View Post

Hi cory, I've searched for the swingray indicator, but I can't find any where the lines are kept permanently on the chart the way I want (they are deleted once the line is violated). Did you have a particular version in mind that doesnt delete the lines?

Reply With Quote
 
  #7 (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: 29,351 given, 83,221 received


Sufyan View Post
I want my screen to be literally covered in hundreds of historical horizontal lines.

Please read this thread very, very carefully, and really try to understand its implications.

https://futures.io/traders-hideout/7364-random-line-theory.html

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 2 users say Thank You to Big Mike for this post:
 
  #8 (permalink)
Elite Member
toronto
 
Futures Experience: Intermediate
Platform: metatrader
Favorite Futures: forex
 
Posts: 22 since Oct 2013
Thanks: 0 given, 29 received


Big Mike View Post
Please read this thread very, very carefully, and really try to understand its implications.

https://futures.io/traders-hideout/7364-random-line-theory.html

Mike

Haha, dont depress me BigMike.

Personally I am well aware of the random line stuff you talked about. I have done it myself (ie asking, am i crazy to think this works, I wonder if I changed the settings/values to some random amount If I would still "see" the same concidences".)

A little off-topic but the birthday example you gave was really interesting. I wikipediad the example and landed on this page Birthday problem - Wikipedia, the free encyclopedia

Its quite amazing, but really really really really baffling. It makes zero sense! Depressing!

Reply With Quote
 
  #9 (permalink)
Market Wizard
virginia
 
Futures Experience: Intermediate
Platform: ninja
Favorite Futures: ES
 
cory's Avatar
 
Posts: 5,218 since Jun 2009
Thanks: 628 given, 6,315 received
Forum Reputation: Legendary


Sufyan View Post
Hi cory, I've searched for the swingray indicator, but I can't find any where the lines are kept permanently on the chart the way I want (they are deleted once the line is violated). Did you have a particular version in mind that doesnt delete the lines?

no heat map just a mess of lines

Attached Thumbnails
"All" Support/Resistance . Is this theoretically possible?-es-03-15-5-min-2_17_2015.jpg  
Attached Files
Register to download File Type: cs eSwingRays.cs (20.8 KB, 10 views)
Reply With Quote
 
  #10 (permalink)
Elite Member
Washington DC
 
Futures Experience: Advanced
Platform: Sierra Chart
Broker/Data: Tradovate
Favorite Futures: US Treasuries
 
fminus's Avatar
 
Posts: 103 since Sep 2009
Thanks: 148 given, 233 received



Sufyan View Post

I want my screen to be literally covered in hundreds of historical horizontal lines.

The idea being that I can instantly get a visual idea of where historical support and resistance is, and how strong that support/resistance is simply by gauging how "thick" the clustering of horizontal lines are in a particular region.

I can save you the trouble of covering your entire screen with lines. Mark support and resistance from higher timeframes, those will be the most significant. Reason being you have big money looking at them and subsequently all the lower time frame looking at them as well. If you trade such a thing, trade the zone, not that exact-to-the-tick line itself. Trade confluence of areas that you think is significant with a bunch of different shit that people look at overlapping on an area. That's not to say that price will reverse at those levels, but if you do want to go for a reversal, those are probably your best chance.

In trading, shortcuts lead to the longest path possible.
Reply With Quote

Reply



futures io > > > > > "All" Support/Resistance . Is this theoretically possible?

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
Crossing back to the"The first Fibonacci support" fractal EasyLanguage Programming 3 March 26th, 2012 08:53 AM
Saxo Bank's 10 "Outrageous Predictions" For "2012: The Perfect Storm" Quick Summary News and Current Events 0 December 17th, 2011 08:10 PM
Fukushima: "China Syndrome Is Inevitable" ... "Huge Steam Explosions", or "Nuclear Bo Quick Summary News and Current Events 0 November 22nd, 2011 02:50 AM
How to change "Stop Loss" and "Take Profit" in "shElderImpulse" Strategy javed759 NinjaTrader 1 November 1st, 2011 11:44 PM
"mid", "buy", "sell" volumes lokgotkent Traders Hideout 6 September 30th, 2011 02:24 PM


All times are GMT -4. The time now is 11:24 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 2017-12-13 in 0.14 seconds with 20 queries on phoenix via your IP 54.227.51.103