High and Low Reversals Indicator + Day Trading Strategy

mc01439

mc01439

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VIP
@john3 - I USE TO REPLACE FRACALS AS SUPPORT/RESISTANCE ZONES FOR A CLEANER CHART. THE INDICATOR IS MARKING THE HIGH AND LOW OF THE FRACTAL (PIVOT) BAR. YOU CAN ADJUST THE SENSITIVITY BY CHANGING input n = 8; #13. I USE 8 DEFAULT IS 13. YOU CHANGE TO FIT INSTRUMENT, STYLE AND CONDITIONS IF YOU WISH, I KEEP AT 8 FOR ALL CHARTS AND INSTRUMENTS.



THERE ARE A NUMBER OF WAYS IT CAN BE USED – UP TO THE TRADER.

IT IS BASICLY LOOKING FOR HIGHS AND LOWS WERE THERE MAY BE SUPPORT AND RESISTANCE. PLAY WITH INPUT N AND THAT WILL GIVE YOU A GOOD IDEA OF HOW IT WORKS.

 
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BenTen

BenTen

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@john3 When it comes to Support and Resistance, I would much prefer to draw them manually since any indicators would miss out on a lot of important S/R areas.

 
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San

New member
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@BenTen/ mac01439, I really appreciate your valuable information....

 
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tabs999

New member
Hi what is link to join discord?

 
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tabs999

New member
@BenTen hi each time the link is invalid i can search the name if anything

 
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john3

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@BenTen Same message, invalid, sorry.

 
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BenTen

BenTen

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@john3 @tabs999 That's weird. I logged out of my Discord, turned on VPN and it still showing a valid invite for me. Definitely a Discord issue or you guys have been weirdly banned from joining our server for some reason 🤔





 
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john3

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@BenTen Hmm, I didn't get an invite when I logged in to Discord. Would you please send a direct message to John3? Thank you.

 
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john3

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@BenTen I just clicked on the link again, and now it does say that I have been banned from this server. Would you please un-ban me?

 
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BenTen

BenTen

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@john3 I checked our ban log and your username is not listed on there.

 
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thinky

Member
This code for the S&R study is generating vertical red dotted lines and nothing like what mc01439 showed in screenshot.

@mc01439 Your link led to a Microsoft login page. I went ahead and posted the direct code below for @john3

Rich (BB code):
# Mobius
# Mobius on My Trade
# Support / Resistance          
# V01.06.2012 V02.08.2013
# Added lower bar for clouds, Volume condition for plot and Vertical line for time.

input n = 13;
input ShowLines = yes;
input PlotTime = 1215; #hint PlotTime: Enter Bars End to plot Bars Start 0 for none.

def h = high;
def l = low;
def v = volume;
def Firstbar = barNumber();
def Highest = fold i = 1 to n + 1
with p = 1
while p
do h > getValue(h,-i);

def HVn = if V == Highest(v, n)
then l
else Double.NaN;

def A = if (Firstbar > n
and h == highest(h, n)
and Highest)
and HVn
then h
else double.NaN;
def Alow = if (Firstbar > n
and h == highest(h, n)
and Highest)
and HVn
then l
else double.nan;
def Lowest = fold j = 1 to n + 1
with q = 1
while q
do l < getValue(l, -j);
def B = if (Firstbar > n
and l == lowest(l, n)
and Lowest)
and HVn
then l
else double.NaN;
def Bhigh = if (Firstbar > n
and l == lowest(l, n)
and Lowest)
and HVn
then h
else double.nan;
def Al = if !isNaN(A)
then A
else Al[1];
def A2 = if !isNaN(Alow)
then Alow
else A2[1];
def Bl = if !isNaN(B)
then B
else Bl[1];
def B2 = if !isNaN(Bhigh)
then Bhigh
else B2[1];

plot ph = Round(A, 2);
ph.setPaintingStrategy(PaintingStrategy.VALUES_ABOVE);

plot hL = if Al > 0
then Al
else double.NaN;
hL.setHiding(!showLines);
hL.SetPaintingStrategy(PaintingStrategy.Dashes);
hL.SetDefaultColor(Color.Yellow);
plot hL2 = if A2 > 0
then A2
else double.nan;
hL2.setHiding(!showLines);
hL2.SetPaintingStrategy(PaintingStrategy.Dashes);
hL2.SetDefaultColor(Color.Yellow);
AddCloud(hL, hL2, Color.Light_Red, Color.Light_Red);

plot pl = Round(B, 2);
pl.setPaintingStrategy(PaintingStrategy.VALUES_BELOW);

plot ll = if Bl > 0
then Bl
else double.NaN;
ll.setHiding(!showLines);
ll.SetPaintingStrategy(PaintingStrategy.Dashes);
ll.SetDefaultColor(Color.Blue);
plot lH = if B2 > 0
then B2
else Double.NaN;
lH.setHiding(!showLines);
lH.SetPaintingStrategy(PaintingStrategy.Dashes);
lH.SetDefaultColor(Color.Blue);
AddCloud(ll, lH, Color.Light_Green, Color.Light_Green);

# Time Markers
AddVerticalLine(SecondsTillTime(PlotTime) == 0, "", Color.Red, Curve.Short_Dash);

plot priceLine = highestAll(if isNaN(close[-1])
and !isNAN(close)
then close
else Double.NaN);
priceLine.SetStyle(Curve.Long_Dash);
priceLine.SetDefaultColor(CreateColor(75,75,75));
priceLine.SetLineWeight(1);
# End Code
 
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drsung

New member
VIP
Is anyone still using this indicator? I loaded it and looked at it on a few tickers today and it looks pretty promising.
 
BenTen

BenTen

Administrative
Staff
VIP
@drsung This indicator will repaint until the signals are working. Sometimes it works and sometimes it doesn’t. Just know that when you’re using it.
 
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drsung

New member
VIP
Yes, I did notice the repaint today on the charts I was watching it on. It obviously gave some early and awesome signals on the all day trending charts. Going to test it some more to see if I can incorporate into my trading.
 
Shinthus

Shinthus

Member
VIP
I tried backtesting. Does it not appear very often? It seems accurate otherwise.
 
G

ganq

New member
VIP
@john3 This is a known issue with this indicator, not that it causes any problems for me but the fact that it repaints (sometimes it doesn't) kind of confuses new users.



The logic for generating and repainting the signals:



Hope that helps to clear things up. And at this point, there is no way to make it show all the old signals.
Hi @BenTen, how do you define a "trading session", is it the candles?, 15/30 minutes intervals?
 
BenTen

BenTen

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@ganq The current trading day on any time interval.
 

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