Hi,
I want to make an indicator that draws major support resistance levels on a 4 hour chart, only going back what is wissible in the image below ( about 16 days (100 -120 bars)).
On the current chart the 2 resistance lines drawn should be this.
But right now I have no clue how I should find this levels programatically.
Vissible I have no problems finding them. But
how can I find them programattically?
Any one that can help me out here?
Br Morten
I can imagine you'll need to break the problem into two parts:
(1) Look for peaks/troughs within the period of interest - indicators that may be useful are zigzags/fractals.
(2) Look for median and perhaps even standard deviation to make sure the level you draw is of certain level of significance.
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Hi,
I want to make an indicator that draws major support resistance levels on a 4 hour chart, only going back what is wissible in the image below ( about 16 days (100 -120 bars)).
On the current chart the 2 resistance lines drawn should be this.
But right now I have no clue how I should find this levels programatically.
Vissible I have no problems finding them. But how can I find them programattically?
Any one that can help me out here?
Br Morten