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Details:
Formula name:
Support Resistance levels
Author/Uploader:
Graham Kavanagh - gkavanagh [at] e-wire.net.au
Date/Time added:
2003-05-22 22:25:51
Origin:
Keywords:
Support Resistance
Level:
medium
Flags:
indicator
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for 3rd party formulas. Description:
Indicator to show support and resistance levels based on RSI indicator reversals
Formula:
//Support and resistance levels using RSI.
//graham Kavanagh May 2003
//Load into Indicator Builder
//Sensitivity of the levels can be changed with the variables
//Can test different numbers live with the Param function ctrl-R with open
pane
RSIperiod = 5; // Param("RSI p",3,14,30,1);
Percent = 5; // Param("ZIG %",8,9,15,1);
EMAperiod = 5; //Param("EMA p",4,5,10,1);
HHVperiod = 5; //Param("HHV p",3,5,10,1);
NumLine = 1; //Param("Num Lines",3,1,20,1);
Base = DEMA(RSI(RSIperiod),EMAperiod);
GraphXSpace=0.5;
Plot(C,"",colorBlack,styleCandle);
for( i = 1; i <= numline; i++ )
{
ResBase = LastValue(Peak(Base,Percent,i));
SupBase = LastValue(Trough(Base,Percent,i));
Plot(ValueWhen( ResBase==Base, HHV(H,HHVperiod) ), "Resist Level", colorRed,
styleLine);
Plot(ValueWhen( supbase==Base, LLV(L,HHVperiod) ), "Support Level", colorGreen,
styleLine);
}
Title = Name() + "; " + Date() + ": Support & Resistance Levels using RSI: " +
/*EncodeColor(colorGreen)+ "Support Levels are Green; "+EncodeColor(colorRed)+
"Resistance Levels are Red: "+EncodeColor(colorBlack)+*/ "Num lines
="+WriteVal(numline,1) ;
Comments:
Graham Kavanagh gkavanagh [at] e-wire.net.au 2003-05-23 20:10:34
Requires latest Betas of AB that allow FOR loops without invoking script in the AFL
sam mivzak_online [at] hotmail.com 2003-05-30 09:41:36
it gives me error :
Unknown identifier at line 10, column 9:
RSIperiod
--------^
thanks for your answer
Graham Kavanagh gkavanagh [at] e-wire.net.au 2003-05-30 18:34:31
If copied direct from the AB AFL site, then the word “pane” is placed in a new row, it should be in the line above. Must be something with the way it wordwraps at the site. Just move it to end of previous row
//Can test different numbers live with the Param function ctrl-R with open pane
sam mivzak_online [at] hotmail.com 2003-05-31 09:30:40
thanks for your time'
afther i do that its give me :
Unknown identifier in line:
for(
---^
what should i do?
Graham Kavanagh gkavanagh [at] e-wire.net.au 2003-06-02 01:39:14
Sam you need the recent Beta versions with the for loops included.
Otherwise you will need to include the for within a script part in AFL.
David Holzgrefe dtholz [at] netspace.net.au 2003-06-14 18:33:35
Hmm havent used AB for a while, the crtl R parameter doesnet work current ab version 4,38.0
its shaded out in the right click function ?
What have i missed ?
Thanks David
Daivd
2003-06-14 18:39:02
No to worry found the answer "param "
Daivd
2003-06-14 18:44:22
No to worry found the answer "param "
RSIperiod= 5; Param("RSI p",3,14,30,1);
but the slider doesnt seem to change the plot ?
Graham gkavanagh [at] e-wire.net.au 2003-09-13 07:05:56
David, Line should read :
RSIperiod= Param("RSI p",3,14,30,1);
