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CongestionRS

Support and resistance lines are very important in trading. When the lines are drawn for the High and Low price on a low timeframe, it is good, but when they are drawn for an upper timeframe, it is not true. Why? Because the distance between High and Low and Open and Close prices can be tens and hundreds of pips, and at this points, the resistance and support areas and support/resistance lines for these areas are pointless.

This indicator simply shows these areas and helps you to detect this Congestion areas.


Advantages

  • Calculate and draw Resistance and Support line in every mode that you need
  • Calculate and draw Congestion area in Resistance and Support point in every mode that you need
  • Change lightness ans saturation of lines color by keyboard keys
  • Set to draw extend to left or right side
  • define location of end of lines
  • Alert, Flashing with sound alarm or none, send email and notify when price touch a line or a line break by price
  • Enable highlight a line when mouse is over it
  • Useable indicator data for expert programmer when price break a line


Input Parameters

  • Type of RS calculation : RS lines usually calculate from yesterday significant prices but you can select one of chart period for it.
  • Draw Line from Bar: start draw from this bar and if enter 0 means from max bars and left side of chart.
  • Color Of support lines: define a color for support lines.
  • Width of support lines: enter 1 to 5 for width of support lines.
  • Style of support lines: enter a style (solid, dash, dot, dashdot, dashdotdot) for support lines.
  • Draw support lines in Background: draw support lines of indicator in back of chart.
  • Color Of resistance lines: define a color for resistance lines.
  • Width of resistance lines: enter 1 to 5 for width of resistance lines.
  • Style of resistance lines: enter a style (solid, dash, dot, dashdot, dashdotdot) for resistance lines.
  • Draw resistance lines in Background: draw resistance lines of indicator in back of chart.
  • Extend Lines to right side: draw line and extend all lines to right side of chart.
  • Enable flashing when price touch line: set an item for flashing mode when price touch a line.
  • Draw end of line in: set an item for location of end of line.
  • End of line Position bar number: if you set "DistanceFromCurrentCandle" in "Draw Label in" parameter you can enter a number and end of lines will draws to this candle position.
  • Enable sound alarm when price touch line: if this parameter set to true when price in candle 0 touch a line, sound will play.
  • File name of alarm: this sound play if you enable sound alarm.
  • Delay of alarm's sound: delay of alarm's sound in repetition.
  • Enable alert when price touch line: if this parameter set to true when price in candle 1 break a line an alert will display.
  • Select notify type when price touch line: you can select a notify type when price touch a line.
  • Select notify type when price break line: you can select a notify type when price break a line.
  • Enable Highlighting line when mouse is over it: if two or more line drop over themselves this item help to you see round line.
  • Color of line when it is Highlighting: define a color for highlight mode.
  • Style of line when it is Highlighting: define a line style for highlight mode.
  • Width of line when it is Highlighting: define width of line for highlight mode.
  • Draw line in Back when it is Highlighting: define back drawing mode for highlight mode.
  • Indicator ID: if you need to have more than one indicator in a chart , you must define differ ID for every indicator.
  • Show congestion area: If set to true congestion area show by a color box .
  • Color Of resistance box: define a color for resistance area box.
  • Color Of support box: define a color for support area box.
  • Enable Highlighting box when mouse is over it: if two or more boxes drop over themselves this item help to you see round line.
  • Color of box when it is Highlighting: define a color for boxes in highlight mode.


Hot Keys

  • ' > ' key: increase lightness of indicator objects.
  • ' < ' key: decrease lightness of indicator objects.
  • ' ? ' key: set lightness to default.
  • ' :' key: increase lightness of indicator objects.
  • ' L ' key: decrease lightness of indicator objects.
  • ' " ' key: set lightness to default.
  • Menu key: show and Hide indicator on chart.
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Version 1.61 - 2017.09.11
Corrected the Symbol name sent via messages.
Version 1.60 - 2017.06.02
- Calculate and draw Resistance and Support line in every mode that you need
- Calculate and draw Congestion area in Resistance and Support point in every mode that you need
- Change lightness ans saturation of lines color by keyboard keys
- Set to draw extend to left or right side
- define location of end of lines
- Alert, Flashing with sound alarm or none, send email and notify when price touch a line or a line break by price
- Enable highlight a line when mouse is over it
- Useable indicator data for expert programmer when price break a line