Discussion of article "An example of an indicator drawing Support and Resistance lines" - page 2
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Can you draw inclined levels from the other side?
i.e. draw support and resistance lines not from the bottom when ascending, but on the contrary from the top?
Alexander, sorry, but there are no "sloping levels". For example, the water level in a swimming pool or the horizon level. They cannot be inclined. The word level is necessarily something horizontal. It's perfectly legitimate to say sloping trendline. Sorry, again.
Good stuff. Thank you. But with some parameters "Number of bars in history" it draws like this - I can't figure out why.
And I dare to have a suggestion: Why should false breakouts be taken into account? To me, the fact of a breakdown is the closing of a candle below/above the trend. By replacing the lines
high and low by close, we get rid of the parameter "Max. points of false breakout of the trend" (Pips_).
Although even in this case there are false breakouts, when a candle closed below/above the trend line, but the subsequent close went backwards. But such cases are much rarer.
Good stuff. Thank you. But with some parameters "Number of bars in history" it draws like this - I can't figure out why.
And I dare to have a suggestion: Why should false breakouts be taken into account? To me, the fact of a breakdown is the closing of a candle below/above the trend. By replacing the lines
high and low by close, we get rid of the parameter "Max. points of false breakout of the trend" (Pips_).
Although even in this case there are false breakouts, when a candle closed below/above the trend line, but the subsequent close went backwards. But such cases are much rarer.
to begin with I will say that the indicator is built as an example, the implementation in the code of breakouts at high low prices is the most correct, because if the price was there, we must take it into account (***).
if you do not want to take it into account at the highs you can implement your own variant, that's why the sources are present, and at the beginning of the text it is stated that this is an example of implementation and you can change the code and try your own implementation of the idea.
also you can set your Pips_ for the breakdown and it can be any, even 0.
***if a car drives onto the pavement and hits a passerby and then returns to the carriageway hour by your assumption you can say that the car should not be considered as a traffic offender and the passerby tripped himself.
with respect.
Regarding the implementation in code, the author said we need to create a new template with default settings. I am a bit confused as to where to put the code in the example, and what the author even means by a template (I am a java programmer, new to the mql5 community). in need of more detail.
good afternoon. this article shows the possibility of determining the levels of support and resistance software running conditions for building the levels, which gives more opportunities to trade in the markets. the original article is located in Russian branch of forum. as for example code I posted source code that can be used as a template to build their levels running build conditions the sample code posted by me. I find it hard to understand english, as I don't speak it, and use automatic translation.
with respect.
Super! Cool article and most importantly useful. I like the indicator with the construction of sloping levels. Thank you.
good afternoon. this article shows the possibility of determining the levels of support and resistance software running conditions for building the levels, which gives more opportunities to trade in the markets. the original article is located in Russian branch of forum. as for example code I posted source code that can be used as a template to build their levels running build conditions the sample code posted by me. I find it hard to understand english, as I don't speak it, and use automatic translation.
with respect.
Thank you for your article & source code
I am still trying to understand the MQL5
do you have any example on drawing a horizontal line for specific time i.e. I want to draw a resistance or support line on the europe session time only (as I want to trade the EURGBP for example)
Thank you