draw horizontal support and resistance lines

[dugafish]

Is there a way draw horizontal support and resistance lines by determining the most frequent closing, high, or low prices(choose one-within a user definable +/- variation) to have occurred during the past X days? So if the closing price of say X has occurred most frequently with the past 300 bars then a horizontal line (with user defined characteristics) will be drawn at that price level across the chart.

 

[halcyonguy]

Is there a way draw horizontal support and resistance lines by determining the most frequent closing, high, or low prices(choose one-within a user definable +/- variation) to have occurred during the past X days? So if the closing price of say X has occurred most frequently with the past 300 bars then a horizontal line (with user defined characteristics) will be drawn at that price level across the chart.

here is a thread where someone asked about comparing price levels.
look at joshua's post#2
he ran into thinkscript fold limitations, when trying to create loops that would look at many prices/price ranges, over many days.
https://usethinkscript.com/threads/tos-scan-for-imaginary-horizontal-price-level.9818/#post-88419

my post#4 has a different way of looking at the problem.

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an alternative is to plot a profile on close. then you will have horizontal bars on the chart, with the longest one of the most occurrences of that price , or price range. you could change this from close , to high.
https://usethinkscript.com/threads/use-a-profile-of-close-to-find-the-mode-of-a-period.9324/

 

[dugafish]

Can you explain the pick Row Type options? Wha do those drop down options represent? How does it impact calculations for Point of Control?