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How to use Support and Resistance Effectively - page 4

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omrangassan
187
omrangassan  

Request : EMA as support and resistance

hello ..

I need some help for coding something simple in my mind for MT4 like this :

Input two EMA's with diffrent periods like x,y

find the median of those diffrent two input EMA Like :

Median = ( EMA x + EMA y ) / 2

Now : the problem is that I need to draw this Median as a DOT on any

timeframe for the instane time we are in now , I mean : I need to draw many dots which indicate the value of that Median on diffrent time frames :

5m + 15m + 30m + 1hr

And it shows those diffrent dots ( 4 dots ) on any timeframe I choose ,

I mean : when I open the 30m chart (or any timeframe chart ) , It draws 4 dots for the value of that median at this now-time ( the value of that median on

the diffrent time frames : 5m + 15m + 30m + 1hr ).

Those 4-dots will be drawn above/below the current candle denoting the value of the median for the diffrent 4 timeframes.

I hope that I can find some help from our group.

Yours . Omran

sailor
490
sailor  

check the mutiple timeframe movingaverage.

sailor

Aaragorn
1423
Aaragorn  

Does a support resistance EA already exist?

Does anyone already have an EA that identifies support and resitance levels?

gkozlyk
328
gkozlyk  
Aaragorn:
Does anyone already have an EA that identifies support and resitance levels?

It is hard to decide what is support and resistances. The best to do this is the following:

1. Draw them yourself. Horizontal lines at high and low points.

2. Get a good daily pivot calculator EA (as i don't know if Metatrader has it built in (in never use it)).

3. Watch 00, 20,50,80 price levels (as they are bank stops/psych barriers).

4. Use 50,100,200 SMA moving averages on your 15min+ charts.

5. Learn about trendlines and chart patterns.

Hope these help,

Graham

Aaragorn
1423
Aaragorn  

that's fine for visual analysis but what i can see and what can be automated are only as good as we can make the computer see in relevant digital data. Hence the question...how do I get support and resistance automated so it can work with an automated execution?

gkozlyk
328
gkozlyk  
Aaragorn:
that's fine for visual analysis but what i can see and what can be automated are only as good as we can make the computer see in relevant digital data. Hence the question...how do I get support and resistance automated so it can work with an automated execution?

Well, just like the post above, there are a few options there that have mechanical qualities...like the pivot point calculator, or using DeMark Auto Trendline or something like that. You just need to know how to integrate those indicators into your auto trader.

Graham

Aaragorn
1423
Aaragorn  

i'm on the keep it simple stupid mode when it comes to programming...

I found this link

http://sufx.core.t3-ism.net/ExpertAdvisorBuilder/

if it doesn't have the specific indicators on it there is a way to download them to the page and i think it will put them in the 'variables' section and make them available for use in the 'logics'. at least that's what i'm hoping. this is the best i have to work with at this time and given my own limitations. Could you post the indicators you mentioned so I can load them to this page?

iscuba11
631
iscuba11  

Here is a good support and resistance indicator!

Dave

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gkozlyk
328
gkozlyk  
iscuba11:
Here is a good support and resistance indicator!

Dave

<

Thanx Dave, i'll give it a go.

Well, i attached it and it sure looks like a pSar indicator...I am imagining the rules are more/less the same. Waiting for a breakout.

Graham

Aaragorn
1423
Aaragorn  
iscuba11:
Here is a good support and resistance indicator!

Dave

<

thankyou for that Dave. you da man!

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