How to use Support and Resistance Effectively - page 76

[Tomik1701]

Martin Pring book

Hi everybody, does anyone have Martin J. Pring's book "Pring on price patterns"?

[Puzastyle]

Script Place Pending Order at SnR Level

Hi,

Need help here, please.

Anybody know how to create script that place Pending Order Buy/Sell with

fix TP and SL at daily R2/R3 or S2/S3 with just drag to the selected chart.

It would be much easier to do it with script rather than do it manually for eg: 28 pairs

I don't want EA because I can't open my PC 24hrs/day. If price didn't hit for example today, I just delete the pending order and wait for tommorow new SnR level.

Thank's in advance,

[fxCaptain]

Percent of Resistance

I looked everywhere and have been unable to find the Percent of Resistance (PCR or POR) indicator for MT4. I know the Dealbook 360 platform has it. Here is some information about it:

MarketInOut.com - Technical Analysis from A to Z

This is the CTL code:

indicator Percent_Of_Resistance;

input price = close, period = 12;

draw line("POR");

vars i(number), lo(number), dif(number);

begin

for i := front(price) + period - 1 to back(price) do begin

lo := movmin(low, i, period);

dif := movmax(high, i, period) - lo;

if dif > 0 then

line := 100 * (price - lo) / dif

else

line := 100;

end;

end.

If anybody can write or find this code for MT4 I greatly appreciate it.

[chumbawunga]

s1 r1 etc

Does anyone know how to import daily support and resistance levels in Metatrader 4. I'm using another web site then drawing them in! ?

[Shasta]

Using FX to front-run the S&Ps

Hi All,

I've been manually trading the S&P futures for a few months now and recently started looking at the Euro Fx as a tool to trading the S&Ps due to the very strong correlation between the 2 with the FX leading the S&Ps throughout the session - which leads to the following question - has anyone put together a successful front-running automation strategy for trading the S&Ps based on FX price action?

This isn't really practical from a manual perspective unless what I call a dislocation event occurs in the FX futures (a several tick directional move, 8 or more, in a short period of time of a coulpe seconds or less) in which case I'll immediately put in a market order on the S&Ps as they will follow this move within the next few seconds.

This correlation is anomalous from a historical perspective but will likely persist until the US Fed abandons ZIRP or the $ crashes, whichever comes 1st.

So I'm looking at putting together a system from scratch (my current platform doesn't support trading automation) and am looking at tradestation since it has built-in proprietary support in the form of Easy Language.

I can't get access to the tradestation (I also looked at ThinkorSwim but they don't support auto trading yet) support forums so I thought I'd post here instead.

Looking at the Easy Language docs I've found online it is not apparent to me if its possible to develop a real time tick based strategy based on FX tick data to initiate an S&P market order. All the docs I've looked at talk about bar indicators, not real time data.

I don't have a strong market analytics background and have only been trading for a few months so don't be too critical if what I'm looking at doing isn't possible.

Otherwise anyone familiar with Easy Language or any platform suggestions feel free to comment.

[tutanhomon]

In earlier trading, crude rose to near $78 a barrel after the U.S. Labor Department reported that employers cut only 11,000 jobs last month, the fewest in nearly two years. The jobless rate edged down to 10%.

But U.S. unemployment remains high and energy fundamentals in the world's largest energy consumer are weak, keeping analysts skeptical about crude's upside potential.

[tutanhomon]

The dollar hit a five-week high Monday, extending its rally from Friday, when strong U.S. jobs data fueled speculation the Federal Reserve may consider winding down its stimulus measures.

Against the euro, the dollar rallied to its highest in more than a month after data showing a much smaller-than-expected loss of U.S. jobs strengthened views that the world's biggest economy was recovering from recession.

[rodrigokaus]

[oronb]

Key Support & Resistance Levels

Hello,

I am looking for a free site that gives you daily support and resistance levels for these major currency pairs: EURUSD, GBPUSD, USDJPY.

I only want to see the levels with a short and simple explanation. For example: 76.4% Fibonnaci retracement, 5 day moving average, 17 March High, Current top of bollinger band and so on. There's no need for a review or graphs.

Your help would be very much appreciated.

Oron

[Marbo]

copy lines in every timeframe automatically?

hi traders,

i always see the m15, m5 and m1 chart. in the morning i draw some support and resist lines into the m15 chart. is it somehow possible, that the same lines also appear in the m5 and m1 chart automatically?

thanks,

marbo