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Support and Resistance Auto Plots
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The Developer
Tradewinds's Avatar
 
Platform: 9.0, by Tradewinds Tradewinds is offline
Developer Last Online: May 2012 Show Printable Version Email this Page
Platform: Tradestation Rating: (1 votes - 5.00 average)
Released: 07-08-2011 Last Update: 07-08-2011 Installs: 3
Re-useable Code Translations  
No support by the author.

This is the indicator that I use on my chart. It is the only indicator I use on a price chart. As far as price is concerned, all I care about is Support and Resistance. I use this indicator on a one minute chart of the ES E-mini SP 500. It plots a Resistance line as soon as a Peak signal fires. When the second Peak signal fires, it plots a new Resistance line, and extends the old Resistance line in a different style. The same happens for Support lines.




This indicator in in Easy Language code, programed in tradestation. It is shown below, plus attached as an ELD file.


Code:
//7-8-11
// Programed by tradescripter

//hh=higher high, ll=lower low
var: hh(False),ll(False),lh(False),hl(False);
var: ClsDwn(False),ClsUp(False);
var: Aftr929(False),Aftr932(False),Aftr939(False);
var: BeforeCls(False);
var: DayHrs(False),newDay(False),OKtoPlot(False);
var: Peak1(False),Peak2(False),Peak3(False),Peak4(False),Peak5(False),Peak6(False);
var: Bttm1(False),Bttm2(False),Bttm3(False),Bttm4(False),Bttm5(False),Bttm6(False);
var: Peak(False),Bttm(False);
var: PeakPrice(H),BttmPrice(L),PriorPeakPrice(H),PriorBttmPrice(L);
var: NoPriorPk(False),NoPriorBttm(False);
var: HL_Price(False),LH_Price(False);
var: NewRzstnceExt(-1), OldRzstnceExt(-1), OldSupport(-1), OldExtSpprt(-1);
var: OldRzstnceBegPrice(h), OldSprtBegPrice(L), OldHiExtBegPrice(H), OldBegPrice2(H);
var: NewRzstnceBegTime(t), NewRzstnceExtBegTime(t), NewLowExtBegTime(t), NewSpprtBegTime(t);
var: NewRzstnceBegDate(D), NewSpprtBegDate(D), NewRzstnceExtBegDate(D), NewLowExtBegDate(D);
var: HierHigh(False), LowerHigh(False), HierLow(False), LowerLow(False);
var: SteppedDwn(0);
var: NewRzstnce(-1), OldRzstnce(-1), NewSpprt(-1);
var: NewSupportExt(-1);

hh=h>h[1];
ll=l<l[1];
lh=h<h[1];
hl=l>l[1];
ClsDwn=c<o;
ClsUp=c>o;

Aftr929=T>929;
Aftr932=T>932;
Aftr939=T>939;
BeforeCls=T<1600;
DayHrs=Aftr929 and BeforeCls;

newDay=date <> date[1];

//OKtoPlot=DayHrs=True;

Peak1=ClsUp[1] and ClsDwn;
Peak2=lh[1] = False and ClsDwn;
Peak3=lh[1] = False and lh;
Peak4=ClsUp[1] and lh;
Peak5=hh[1] and hh = False;
Peak6=hh and ClsUp = False;

Bttm1=ClsDwn[1] and ClsUp;
Bttm2=hl[1] = False and ClsUp;
Bttm3=hl[1] = False and hl;
Bttm4=ClsDwn[1] and hl;
Bttm5=ll[1] and ll = False;
Bttm6=ll and ClsDwn = False;

Peak=(Peak1 = True or Peak2 = True or Peak3 = True or Peak4 = True or Peak5 = True);
Bttm=(Bttm1 = True or Bttm2 = True or Bttm3 = True or Bttm4 = True or Bttm5 = True);

NoPriorPk=Peak[1] = false;
NoPriorBttm=Bttm[1] = false;

if Peak6 and NoPriorPk then
 Begin
  PeakPrice = H;
 End else If
  Peak and NoPriorPk then 
 Begin
  PeakPrice = H[1];
 End;
 
if Bttm6 and NoPriorBttm then
 BttmPrice=L else If Bttm and NoPriorBttm then
 BttmPrice = L[1];

HierLow=BttmPrice>BttmPrice[1];
LowerHigh=PeakPrice<PeakPrice[1];

LowerLow=BttmPrice<BttmPrice[1];
HierHigh=PeakPrice>PeakPrice[1];

if LowerLow then SteppedDwn = 1 else if HierLow then SteppedDwn = 0;

if PeakPrice <> PeakPrice[1] then PriorPeakPrice = PeakPrice[1];
if BttmPrice <> BttmPrice[1] then PriorBttmPrice = BttmPrice[1];

{-- Starts a new Resistance Line, then ends the old Resistance Trend line if a new peak signal fires ---}
If Peak and NoPriorPk Then 
 Begin
  
  OldRzstnce = NewRzstnce;
 
   	If Peak6 and NoPriorPk then
  	 Begin
	  NewRzstnce = tl_new(d[1], t[1], H, d, t, H);
	 End
	Else
	 Begin
	  NewRzstnce = tl_new(d[1], t[1], H[1], d, t, H[1]);
  	End;

Value1 = TL_SetExtRight(NewRzstnce, True);
Value2 = TL_SetSize(NewRzstnce, 2);	
Value3 = TL_SetColor(NewRzstnce, Blue);
  
 If OldRzstnce <> -1 Then
  Begin
  	NewRzstnceBegDate = TL_GetBeginDate(NewRzstnce);
    NewRzstnceBegTime = TL_GetBeginTime(NewRzstnce);
    OldRzstnceBegPrice = TL_GetBeginVal(OldRzstnce);
    Value4 = TL_SetExtRight(OldRzstnce, False); //Stop extending the original line to the right.
    Value5 = TL_SetEnd(OldRzstnce, NewRzstnceBegDate, NewRzstnceBegTime, OldRzstnceBegPrice);
  End;
 End;
 
 {-- Starts a new trendline if a new bottom signal fires ---}
If Bttm and NoPriorBttm Then 
 Begin
  OldSupport = NewSpprt;
  
   	If Bttm6 and NoPriorBttm then
  	 Begin
	  NewSpprt = tl_new(d[1], t[1], L, d, t, L);
	 End
	Else
	 Begin
	  NewSpprt = tl_new(d[1], t[1], L[1], d, t, L[1]);
  	End;
  	 
Value6 = TL_SetExtRight(NewSpprt, True);
Value7 = TL_SetSize(NewSpprt, 2);	
Value8 = TL_SetColor(NewSpprt, magenta);
  
  If OldSupport <> -1 Then
  Begin
  	NewSpprtBegDate = TL_GetBeginDate(NewSpprt);
    NewSpprtBegTime = TL_GetBeginTime(NewSpprt);
    OldSprtBegPrice = TL_GetBeginVal(OldSupport);
    Value9 = TL_SetExtRight(OldSupport, False);
    Value10 = TL_SetEnd(OldSupport, NewSpprtBegDate, NewSpprtBegTime, OldSprtBegPrice);
  End;
  
 End;

{-- Extends the old Resistance trendline if a new peak signal fires ---}
If Peak and NoPriorPk and H <= PeakPrice[1] Then
 Begin
  OldRzstnceExt = NewRzstnceExt;
  NewRzstnceExt = tl_new(d[1], t[1], OldRzstnceBegPrice, d, t, OldRzstnceBegPrice);

Value11 = TL_SetExtRight(NewRzstnceExt, True);
Value12 = TL_SetColor(NewRzstnceExt, Blue);
Value13 = Tl_setstyle(NewRzstnceExt, Tool_Dotted);

  If OldRzstnceExt <> -1 Then
  Begin
  	NewRzstnceExtBegDate = TL_GetBeginDate(NewRzstnceExt);
    NewRzstnceExtBegTime = TL_GetBeginTime(NewRzstnceExt);
    OldHiExtBegPrice = TL_GetBeginVal(OldRzstnceExt);
    Value14 = TL_SetExtRight(OldRzstnceExt, False);
    Value15 = TL_SetEnd(OldRzstnceExt, NewRzstnceExtBegDate, NewRzstnceExtBegTime, OldHiExtBegPrice);
  End;
  
 End;
 
 {-- Extends the old support line if a new bttm signal fires ---}
If Bttm and NoPriorBttm and L >= BttmPrice[1] Then
 Begin
  OldExtSpprt = NewSupportExt;
  NewSupportExt = tl_new(d[1], t[1], OldSprtBegPrice, d, t, OldSprtBegPrice);
	
Value16 = TL_SetExtRight(NewSupportExt, True);
Value17 = TL_SetColor(NewSupportExt, Magenta);
Value18 = Tl_setstyle(NewSupportExt, Tool_Dotted);

  If OldExtSpprt <> -1 Then
  Begin
  	NewLowExtBegDate = TL_GetBeginDate(NewSupportExt);
    NewLowExtBegTime = TL_GetBeginTime(NewSupportExt);
    OldBegPrice2 = TL_GetBeginVal(OldExtSpprt);
    Value19 = TL_SetExtRight(OldExtSpprt, False);
    Value20 = TL_SetEnd(OldExtSpprt, NewLowExtBegDate, NewLowExtBegTime, OldBegPrice2);
  End;
  
 End;

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File Type: eld _PRICE_LEVELS_PRICE.ELD (11.8 KB, 73 views)

Screenshots

Support and Resistance Auto Plots-auto-lines.jpg  

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The Following 6 Users Say Thank You to Tradewinds For This Useful Post:
berrob (10-24-2011), chloe31 (07-16-2011), nuno-online (07-09-2011), Tams (07-09-2011), Tripk (07-24-2011), ValueTrader (01-04-2012)

Comments
Old 08-05-2011, 09:15 PM   #2

Tradewinds's Avatar

Join Date: Nov 2008
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Re: Support and Resistance Auto Plots
Here is an updated version. This version will show the price bubble on the price axis. I added a couple of plot statements, and made the plots a point style. That way there is no connecting line between the different levels. If you make the two plots a point style, and keep the line weight at the lowest setting, then the plot will never show. Why don't I want the plot to show? Because I don't need the plot, the trendlines are what I want to see. Then why put a plot on the chart that you don't want to see, and you won't see? So that the price bubbles show on the price axis. That way I know what the price is of the support and resistance lines.

So I figured out a "work around" for getting a price bubble to show on the price axis. The trendlines will not show update data, only plots show the values.

I got rid of some variables that were not being used, and cleaned up the code a little. I had programed this in another language, and had to rework it, and didn't need some of the old variables.

Code:
//8-5-11
//hh=higher high, ll=lower low
var: hh(False),ll(False),lh(False),hl(False);
var: ClsDwn(False),ClsUp(False);
var: Peak1(False),Peak2(False),Peak3(False),Peak4(False),Peak5(False),Peak6(False);
var: Bttm1(False),Bttm2(False),Bttm3(False),Bttm4(False),Bttm5(False),Bttm6(False);
var: Peak(False),Bttm(False);
var: CrrntHi(H),CrrntLw(L),PriorPeakPrice(H),PriorBttmPrice(L);
var: NoPriorPk(False),NoPriorBttm(False);
var: HL_Price(False),LH_Price(False);
var: NewRzstnceExt(-1), OldRzstnceExt(-1), OldSupport(-1), OldExtSpprt(-1);
var: OldRzstnceBegPrice(h), OldSprtBegPrice(L), OldHiExtBegPrice(H), OldBegPrice2(H);
var: NewRzstnceBegTime(t), NewRzstnceExtBegTime(t), NewLowExtBegTime(t), NewSpprtBegTime(t);
var: NewRzstnceBegDate(D), NewSpprtBegDate(D), NewRzstnceExtBegDate(D), NewLowExtBegDate(D);
var: NewRzstnce(-1), OldRzstnce(-1), NewSpprt(-1);
var: NewSupportExt(-1);

hh=h>h[1];
ll=l<l[1];
lh=h<h[1];
hl=l>l[1];
ClsDwn=c<o;
ClsUp=c>o;

Peak1=ClsUp[1] and ClsDwn;
Peak2=lh[1] = False and ClsDwn;
Peak3=lh[1] = False and lh;
Peak4=ClsUp[1] and lh;
Peak5=hh[1] and hh = False;
Peak6=hh and ClsUp = False;

Bttm1=ClsDwn[1] and ClsUp;
Bttm2=hl[1] = False and ClsUp;
Bttm3=hl[1] = False and hl;
Bttm4=ClsDwn[1] and hl;
Bttm5=ll[1] and ll = False;
Bttm6=ll and ClsDwn = False;

Peak=(Peak1 or Peak2 or Peak3 or Peak4 or Peak5);
Bttm=(Bttm1 or Bttm2 or Bttm3 or Bttm4 or Bttm5);

NoPriorPk=Peak[1] = false;
NoPriorBttm=Bttm[1] = false;

if Peak6 and NoPriorPk then
	CrrntHi = H
else If Peak and NoPriorPk then 
	CrrntHi = H[1];

if Bttm6 and NoPriorBttm then
 CrrntLw=L else If Bttm and NoPriorBttm then
 CrrntLw = L[1];

plot1(CrrntHi, "Current High"); // Set to points so that the price of the line shows up on the axis
plot2(CrrntLw, "Current Low");

if CrrntHi <> CrrntHi[1] then PriorPeakPrice = CrrntHi[1];
if CrrntLw <> CrrntLw[1] then PriorBttmPrice = CrrntLw[1];

{-- Starts a new Resistance Line, then ends the old Resistance Trend line if a new peak signal fires ---}
If Peak and NoPriorPk Then 
 Begin
  
  OldRzstnce = NewRzstnce;
 
   	If Peak6 and NoPriorPk then
	  NewRzstnce = tl_new(d[1], t[1], H, d, t, H)
	Else
	  NewRzstnce = tl_new(d[1], t[1], H[1], d, t, H[1]);

Value1 = TL_SetExtRight(NewRzstnce, True);
Value2 = TL_SetSize(NewRzstnce, 2);	
Value3 = TL_SetColor(NewRzstnce, Blue);
  
 If OldRzstnce <> -1 Then
  Begin
  	NewRzstnceBegDate = TL_GetBeginDate(NewRzstnce);
    NewRzstnceBegTime = TL_GetBeginTime(NewRzstnce);
    OldRzstnceBegPrice = TL_GetBeginVal(OldRzstnce);
    Value4 = TL_SetExtRight(OldRzstnce, False); //Stop extending the original line to the right.
    Value5 = TL_SetEnd(OldRzstnce, NewRzstnceBegDate, NewRzstnceBegTime, OldRzstnceBegPrice);
  End;
 End;
 
 {-- Starts a new trendline if a new bottom signal fires ---}
If Bttm and NoPriorBttm Then 
 Begin
  OldSupport = NewSpprt;
  
   	If Bttm6 and NoPriorBttm then
	  NewSpprt = tl_new(d[1], t[1], L, d, t, L)
	Else
	  NewSpprt = tl_new(d[1], t[1], L[1], d, t, L[1]);
  	 
Value6 = TL_SetExtRight(NewSpprt, True);
Value7 = TL_SetSize(NewSpprt, 2);	
Value8 = TL_SetColor(NewSpprt, magenta);
  
  If OldSupport <> -1 Then
  Begin
  	NewSpprtBegDate = TL_GetBeginDate(NewSpprt);
    NewSpprtBegTime = TL_GetBeginTime(NewSpprt);
    OldSprtBegPrice = TL_GetBeginVal(OldSupport);
    Value9 = TL_SetExtRight(OldSupport, False);
    Value10 = TL_SetEnd(OldSupport, NewSpprtBegDate, NewSpprtBegTime, OldSprtBegPrice);
  End;
  
 End;

{-- Extends the old Resistance trendline if a new peak signal fires ---}
If Peak and NoPriorPk and H <= CrrntHi[1] Then
 Begin
  OldRzstnceExt = NewRzstnceExt;
  NewRzstnceExt = tl_new(d[1], t[1], OldRzstnceBegPrice, d, t, OldRzstnceBegPrice);

Value11 = TL_SetExtRight(NewRzstnceExt, True);
Value12 = TL_SetColor(NewRzstnceExt, Blue);
Value13 = Tl_setstyle(NewRzstnceExt, Tool_Dotted);

  If OldRzstnceExt <> -1 Then
  Begin
  	NewRzstnceExtBegDate = TL_GetBeginDate(NewRzstnceExt);
    NewRzstnceExtBegTime = TL_GetBeginTime(NewRzstnceExt);
    OldHiExtBegPrice = TL_GetBeginVal(OldRzstnceExt);
    Value14 = TL_SetExtRight(OldRzstnceExt, False);
    Value15 = TL_SetEnd(OldRzstnceExt, NewRzstnceExtBegDate, NewRzstnceExtBegTime, OldHiExtBegPrice);
  End;
  
 End;
 
 {-- Extends the old support line if a new bttm signal fires ---}
If Bttm and NoPriorBttm and L >= CrrntLw[1] Then
 Begin
  OldExtSpprt = NewSupportExt;
  NewSupportExt = tl_new(d[1], t[1], OldSprtBegPrice, d, t, OldSprtBegPrice);
	
Value16 = TL_SetExtRight(NewSupportExt, True);
Value17 = TL_SetColor(NewSupportExt, Magenta);
Value18 = Tl_setstyle(NewSupportExt, Tool_Dotted);

  If OldExtSpprt <> -1 Then
  Begin
  	NewLowExtBegDate = TL_GetBeginDate(NewSupportExt);
    NewLowExtBegTime = TL_GetBeginTime(NewSupportExt);
    OldBegPrice2 = TL_GetBeginVal(OldExtSpprt);
    Value19 = TL_SetExtRight(OldExtSpprt, False);
    Value20 = TL_SetEnd(OldExtSpprt, NewLowExtBegDate, NewLowExtBegTime, OldBegPrice2);
  End;
  
 End;
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