Support & Resistance Code Setup

[Duarte Silva]

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, 

[[Deleted]]

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

[Roberto Jacobs]

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

[Duarte Silva]

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, 

[Duarte Silva]

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.