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TAASA Lines of Support and Resistance

This is a simple TAASA indicator displaying support/resistance levels.

Other products: https://www.mql5.com/en/users/niktron/seller


Lines plotting principle

Support and resistance lines

  • Based on extreme points sorted out by the Frames parameter (minimum distance between adjacent extreme points in bars).

Trading levels (the default is blue).

Conditions:

  • The price crosses the level not more than InpIntersection times.
  • After crossing the market, the volatility exceeds MinSSh points.
  • Open and Close prices of the candle that crossed the level are located on different sides of the level.
  • After crossing, the price did not approach the level closer than for MaxSNed points (the last Ignor_bar bars are not considered in this calculation).


Inputs

  • Frames - accuracy of fractals
  • InpIntersection - number of permissible level crossings
  • Ignor_bar - number of the last ignored bars when calculating the price approaching the level
  • MinSSh - minimum market volatility for forming levels, in points
  • MaxSNed - maximum price approach to the level for ignoring it, in points
  • MaxBarsAnalize - number of bars for forming the levels (display depth)
  • Resistance - color of resistance lines
  • Support - color of support lines
  • Strong level - color of important levels
  • Line width - line width
  • Line style - line style


Vitalii Kozyretskii
263
Vitalii Kozyretskii 2018.04.29 16:04 
 

Everything is simple and clear