How to use Support and Resistance Effectively - page 5

[RickW00716]

new idea for daily support/resistance

I would like to plot the 10 day average of the high minus the open when the high is further away from the open than the low is.

I would like to plot the 10 day average of the open minus the low when the low is further away from the open than the high is.

I would also like to plot the 10 day average of the high minus open when the high is closer to the open than the low.

I would like to plot the 10 day average of the open minus the low when the low is closer to the open than the high.

Finally plot the 10 day average of the high minus open...and the 10 day average of the open minus the low...regardless of their position relative to the open.

What I am looking at is on a day where the price moves a certain amount away from the open where it can expect to find resistance and support depending on the type day it is.

for example: if the price falls below the 10 day average of the open minus the low(the avg of the open minus low when the low is closest to the open) we can reasonably expect that the day will be a down day and would look to sell pullbacks and would look to the avg of the open minus the low when the low is farthest away from the open for potential targets and support.

I hope I have gotten this idea across...I would love to develop this more with these specific indiactors...

PS. calculations must not include Sunday(my software counts Sunday as a regular day even though it has only about 2 or 3 hours of data..this messes up any indicator calculations

[prasxz]

Ma

RickW00716:
I would like to plot the 10 day average of the high minus the open when the high is further away from the open than the low is.

I would like to plot the 10 day average of the open minus the low when the low is further away from the open than the high is.

I would also like to plot the 10 day average of the high minus open when the high is closer to the open than the low.

I would like to plot the 10 day average of the open minus the low when the low is closer to the open than the high.

Finally plot the 10 day average of the high minus open...and the 10 day average of the open minus the low...regardless of their position relative to the open.

What I am looking at is on a day where the price moves a certain amount away from the open where it can expect to find resistance and support depending on the type day it is.

for example: if the price falls below the 10 day average of the open minus the low(the avg of the open minus low when the low is closest to the open) we can reasonably expect that the day will be a down day and would look to sell pullbacks and would look to the avg of the open minus the low when the low is farthest away from the open for potential targets and support.

I hope I have gotten this idea across...I would love to develop this more with these specific indiactors...

PS. calculations must not include Sunday(my software counts Sunday as a regular day even though it has only about 2 or 3 hours of data..this messes up any indicator calculations

Hi,

Good idea pal..so we can enter based on daily signal and TP as soon as our target fullfiled..

Did u ever use WMA 10,20,60 and 80...I think it's good indicator to research based on your ide...and combined with pricetrender2 indicator...

just my opinion..

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Forex Indicators Collection

[RickW00716]

how would we use these wmas with the pricetrender2 indicator?

[[Deleted]]

Calculating Support and Resistance -Developers Wanted

I made an attempt to calculate support and resistance based on open and closing prices for bars rather than as I have seen some indicators use highest high and lowest low. Ok so it's a work in progress. I am open to development ideas how this can be used.

I'm not finished with it yet. I have still to combine the matches of the opens and closes and identify the resistance and support levels. Then maybe it will have some useful deployment as part of strategy development.

[CP6]

support and resistance

hi all,

any indicator regarding support and resistance pls post here.

here 1 in my collection.

have fun!

cp6

[increase]

Pretty good, anyone got an mtf version of this?

[Linuxser]

[CP6]

[CP6]

is this support&resistance indicator todd ?...im only want SR indicator here...thanks.

[tradewiser]

Support & Resistance Method

I currently use a vey useful way of calculating support and resistance lines. These are based on seeing how many high,low & close in last x days fall within 2/3 pips. I do this manually and is time consuming. Is there any mq4 files which does this?

I hope someone can help me here.

Thank you

Joe