Support/Resistance Indicator

[mobthehop]

slipshot, (again) thanks for this nice piece of coding....

1. Could you pls add the latest version (guess 4b) to first post, makes it easier for new people to find it...

2a. Could you explain in layman terms how the fractal factor slow / fast is influencing SR as I do not understand the code
2b. Do you still use 6/3 fast/slow as standard?

Cheers

Mop

[slipshod]

Is there anyway to add the screen on/off toggle button? I like to trade with as little noise on my charts and love this imdi, but it woulkd be great if it was possible to toggle on/off..

I'm sorry JP, I don't understand what you mean exactly. Do you want a method of making the whole indicator disappear or just some of what it draws on the chart ... ?

1. Could you pls add the latest version (guess 4b) to first post, makes it easier for new people to find it...

Done - and better still its a new version (0.4c) including an optional alarm that can be set to alert you when the price enters a zone.

Could you explain in layman terms how the fractal factor slow / fast is influencing SR as I do not understand the code

The indicator uses an internal implementation of the fractals indi to determine the highs and lows off which to place its support/resistance zones. Slow = stronger highs/lows, Fast = more minor ones used for the "weak" zones. If you set fractals.show to true you can see them drawn on the chart, which should make it self explanatory (example below). You can then experiment with different settings it you like and see how it affects the fractals that are drawn.

[theforexedge]

Slipshod

Yes, if the toggle button could turn off the indicator on the Empty4 screen...

Even though this is probably my favourite indicator it can sometimes drown out the rest of the chart and its better in solid mode IMHO.

May MT4GUI might be the way to go?

Thanks, JP

[slipshod]

I'll give it some thought ... in the meantime if you don't want to see the indicator (without having to remove it), right click on the chart to bring up the Indicators List, double click this indi, then on the visualisation tab disable the timeframe you're looking at.

[Pinbar]

I'll give it some thought ... in the meantime if you don't want to see the indicator (without having to remove it), right click on the chart to bring up the Indicators List, double click this indi, then on the visualisation tab disable the timeframe you're looking at.

Nice tip Slip

I wander if it is possible to make a script (or...?), one could then customize (hardcode) to drag & drop and without further user input: " Call Indicators List + selected (hcoded) indi + disable/enable (flip/flop) visualisation by (hcoded) timeframe " :

That tool would allow traders to solve this kind of problem with other indis and make a difference on the path towards a more naked CJ like trading style...

[traderjohn]

Slipshod... this indicator you made is perhaps one of the most "wisest" SR indi's I have come across. Just wanted to drop a line to appreciate/acknowledge your work.

I trade triangle patterns mixed with a tinge of WW reversal logic. While its been successful, I've been bad at placing my stops and TP levels so most of the time I have to constantly watch the charts for any possible reversals before reaching the target price.

Also, what I like about your indi is the 'zone' that it creates rather than a price point, I think a support or resistance zone is more practical than just a price point.

While I haven't read through all the previous posts, (IF it hasn't been answered) can you tell me the logic behind the boxes? For example are the zones drawn when price was ranging between the upper and lower bounds of the boxes in order to create the zone?

[Sequoia]

Great Stuff thanks allot !!!!

[traderjohn]

Hey Slip, not sure if you are going to read this, but just a thumbs up. Your indi led to research more and finally discovered supply/demand. So far, just loving it (especially the scalping on 1, 5 min charts).

Great stuff.

[slipshod]

Hi John, sorry I hadn't replied to your earlier question. The zones are created firstly by turning points in the price identified by a modified Fractal algorithm (see screenshot higher a few posts earlier where the fractals are visible).

The width of the zone is determined by a combination of ATR and the "fuzzfactor" value that you can set in the indicator's properties - the higher it is the broader the zones & the more likely they are to merge together.

I'm very glad to hear you're doing well scalping with it on low TFs, something I never had any success with

[SatchFan]

Hello slipshod,
I just wanted to take the time to Thank You for posting this indi as it has been a big help. I run renko's on an offline chart and use this indi. I just noticed Friday after I decided to see what the 4 hour s/r would look like on a renko chart that the time based charts s/r doesn't show up on an offline chart. The current time frame does work on the offline charts, but not the time based ones. Does any one know if it is possible to import the s/r info from a time based chart to the offline charts? Also, the "zone show alerts" work but the "zone alert popups" and "zone alert sounds" don't work for me on an offline chart. Haven't tried on a time based chart yet as I just discovered this late in the trading day Friday. I'm using version 04c.

Thanks again slipshod I really like this indi!

Peace,
SatchFan