Super S/R! Breakout system?

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Scorpion
4008
Scorpion  

I was wondering if any gurus came up with any breakout system based on Support and Resistance indicator? I believe it should be very possible with a decent S/R indicator. Let's make a holy grail out of this new indicator guys!

I've been playing with Barry's Support and Resistance, but only to find out that the indicator repaints the past 3 bars. When an indicator repaints the past, it will look so good on chart, but in fact it's totally different in real-time. If you've been fooled by ZigZag indicator, you'll know what I mean. But anyway, let's give a cool "Multiple Personalities" to the indicator that repaints the past.

One more thing about Barry's SR is that it is highly volatile (changes value too often). Support and resistance lines are supposed to be low volatile, right? Because of its high volatility, Barry's SR just allows too many false breakouts; too many that it shouldn't be called Support and Resistance.

So at the end of the day, I recoded the whole thing to get a slightly better S/R: single personlity and lower volatility. It's only slightly better, because my S/R is gonna lag 3 bars behind to cope with the so-called "multiple personalities." But it sure does guarantee static support and resistance. Once the level is located, it will stay the same for bars ahead.

See how good Super S/R is, compared to S/R (Barry).

Files:
eli
610
eli  

Barry s/r are just another nice way to display fratcals. I used it as my S/L level. Also used when the s/r level are close to each other, it gave me a hint that a big move is about to come. I stick with it

Scorpion
4008
Scorpion  

It's nice in showing illusion, sorry fractals.

LazyForex
308
LazyForex  

Magic BreakOut

Hi. I attach an interesting strategy (not mine). Some of you may already read this...

This is a Breakout strategy that allows you to anticipate and get in the market before the Breakout. It should work across most Time-Frame

If anyone can code this simple indicator would be great.

Enjoy

LF

Files:
fxbs
3203
fxbs  
LazyForex:
Hi. I attach an interesting strategy (not mine). Some of you may already read this...

This is a Breakout strategy that allows you to anticipate and get in the market before the Breakout. It should work across most Time-Frame

If anyone can code this simple indicator would be great.

Enjoy

LF

yeaa,they are right - good observation

fxbs
3203
fxbs  

looks good on m60; getting killed on ranging markets - needs something 4 flat and chopp; but good idea, though

prasxz
1259
prasxz  

hi

need some filter indicator to optimize it btw nice idea

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Forex Indicators Collection

Vlad Vahnovanu
383
Vlad Vahnovanu  

It's a very interesting idea.What indicators should we use for filtering the market noise,I wonder??

LazyForex
308
LazyForex  
fxbs:
looks good on m60; getting killed on ranging markets - needs something 4 flat and chopp; but good idea, though

Yep. Looks better on TF 60Min >

The "5 Pip Rule" seems like a good filter?

LF

Files:
5.jpg 26 kb
pghiaci
24
pghiaci  

Hi everyone

I have coded an EA based on support and resistace(Barry) indicator and I have used 2 pip rule for it and for the rang trend I have used 12 pip rule for it.and just chck out the result.

et_phonehome_2
1389
et_phonehome_2  

Have you tried using the Daily S/R instead of the Super S/R Barry to compare the results?

12
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