Discussion of article "Automatic construction of support and resistance lines"

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MetaQuotes
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216347
MetaQuotes  

New article Automatic construction of support and resistance lines has been published:

The article deals with automatic construction of support/resistance lines using local tops and bottoms of price charts. The well-known ZigZag indicator is applied to define these extreme values.

Support and resistance lines are plotted via local peaks and bottoms of price charts. To determine these extreme values, we will apply the well known ZigZag indicator. We can set the necessary properties for support and resistance lines in its inputs.

The scale of lines can be changed using the parameters of the ZigZag indicator, but you can apply the same parameters on different timeframes. This allows us to obtain the extreme values we need to build support and resistance levels.

The images below show how the extreme values change with the change of a timeframe. The first image displays the minute chart encompassing a period of thirty minutes, the second one covers four hours.


Author: Vladimir Mametov

bankova.elizabet
8
bankova.elizabet  
+1
Onyebuchim Obike
200
Onyebuchim Obike  
A very nice work. I most often preferred using SRs manually due to more control and dynamism of price movement. Though an EA of this sort is splendid if we'll fine tuned
Valentin Buliga
1000
Valentin Buliga  
Hello. Is there a mql4 version for this? Thank you.
Vladimir Mametov
30803
Vladimir Mametov  
Hello, unfortunately there is no version of Mql4.
lauromartins
13
lauromartins  

Dear all,

 I receve the error below when the EA try to send a sell or buy orders. 

This error I saw happen in the strategy tester and the test account. I have not yet tested on a real account to know if the error occurs.



2019.06.02 23:03:03.820 2019.04.05 07:20:00   Sell(): Error inputs for trade order

2019.06.02 23:03:03.820 2019.04.05 07:20:00   Sell(): OrderCheck(): Unknown error 10030


2019.06.02 23:03:00.427 2019.04.05 06:30:00   Buy(): Error inputs for trade order

2019.06.02 23:03:00.427 2019.04.05 06:30:00   Buy(): OrderCheck(): Unknown error 10030


Vladmir can you help me with this problem? Well I'm really looking forward to seeing how this EA works.

Thank you in advance for your time.


onward2020 Hasanin Elmasry
481
onward2020 Hasanin Elmasry  
very good job
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