Support & Resistance Code Setup

 

Hi folks,

I need to work an EA to identify support and resistance levels and I'm confused how to define and find those levels. I have read so much topics that I need your opinion about what is the most accurate. I have read the several articles using:

- Fractals (https://www.metatrader5.com/en/terminal/help/indicators/bw_indicators/fractals and https://www.mql5.com/en/articles/1429 and  https://www.mql5.com/en/articles/1435)

- High and Lows (https://www.mql5.com/en/code/11006 and https://www.metatrader5.com/en/terminal/help/objects/lines/hor_line);

- Daily Pivot Points (https://www.mql5.com/en/code/8685);

- Fibonacci Retracement ( https://www.metatrader5.com/en/terminal/help/objects/fibo/fibo_retracement)

 

I am making an EA using price action setup (pinbar only) with EMAs and now I would like to use S/R. My usual timeframe daily or H4, and my idea was to search for S/R on the W1 and D1 timeframe. I think this is swingtrading! :)

Any help or explanation about the best S/R method?

 

Best regards, 

Fractals - Bill Williams - Technical Indicators - Technical Analysis
Fractals - Bill Williams - Technical Indicators - Technical Analysis
  • www.metatrader5.com
Fractals - Bill Williams - Technical Indicators - Technical Analysis
 
https://www.mql5.com/ru/code/14545
Shved Supply and Demand
Shved Supply and Demand
  • votes: 16
  • 2016.01.12
  • Shved
  • www.mql5.com
Индикатор, показывающий зоны спроса и предложения.
 
dbarnabe:

Hi folks,

I need to work an EA to identify support and resistance levels and I'm confused how to define and find those levels. I have read so much topics that I need your opinion about what is the most accurate. I have read the several articles using:

- Fractals (https://www.metatrader5.com/en/terminal/help/indicators/bw_indicators/fractals and https://www.mql5.com/en/articles/1429 and  https://www.mql5.com/en/articles/1435)

- High and Lows (https://www.mql5.com/en/code/11006 and https://www.metatrader5.com/en/terminal/help/objects/lines/hor_line);

- Daily Pivot Points (https://www.mql5.com/en/code/8685);

- Fibonacci Retracement ( https://www.metatrader5.com/en/terminal/help/objects/fibo/fibo_retracement)

 

I am making an EA using price action setup (pinbar only) with EMAs and now I would like to use S/R. My usual timeframe daily or H4, and my idea was to search for S/R on the W1 and D1 timeframe. I think this is swingtrading! :)

Any help or explanation about the best S/R method?

 

Best regards, 

You can read this articles:

Trading Strategy Based on Pivot Points Analysis

https://www.mql5.com/en/articles/1465

Trading Strategy Based on Pivot Points Analysis
Trading Strategy Based on Pivot Points Analysis
  • 2007.10.11
  • Kushnarev Roman
  • www.mql5.com
Pivot Points (PP) analysis is one of the simplest and most effective strategies for high intraday volatility markets. It was used as early as in the precomputer times, when traders working at stocks could not use any ADP equipment, except for counting frames and arithmometers.
 
Roberto Jacobs:

You can read this articles:

Trading Strategy Based on Pivot Points Analysis

https://www.mql5.com/en/articles/1465

Hi Roberto,

I have read the article that you have said and I have understood the simplicity of the PP Analysis. One question came up: will PP work better for swingtrade with D1 and W1 timeframes? Whats you experience?

I will try an EA with PP to experiment the S/R signals that are shown to understand better how PP works.

 Best regards, 

 
Vasyl Nosal:
https://www.mql5.com/ru/code/14545

Hi Vasyl,

I have seen your "shved_supply_and_demand.mq4" and your other works and have to congratulate you. I'm just starting.

So,I have tested you EA in strategy tester and I liked very much the displayed levels but I will try to understand better what you have done! It wont be easy... :) I have some questions:

- Do you use fractals to define S/R zones?

- What is "zone_fuzzfactor" and "fractal_fast_factor"?

- What are  "SlowUpPts" for?

I will try to understand better how to code fractals... Thanks for your attention.