Dynamic S/R Zones

[OpaBert]

Dynamic S/R Zones

Avery,

No such thing as trespass here.

Your alternate code benefits everyone and is appreciated.

Eventually someone more skilled will hopefully give the original idea a try.

Bert

[buzzhorton]

Re: Dynamic S/R Zones

Eventually someone more skilled will hopefully give the original idea a try.

Nice try, but you're not going to bait me into coding it...LOL

Originally posted by OpaBert
Avery,

No such thing as trespass here.

Your alternate code benefits everyone and is appreciated.

Eventually someone more skilled will hopefully give the original idea a try.

Bert

[OpaBert]

Dynamic S/R

... and they are not even "SQUIGGLEY LINES"!

[kevinmclark]

buzzhorton,

Your the man!!! If your not on eSignal's payroll you certainly should be. Keep up the good work.

Kevin

[buzzhorton]

NO!!

If I were on their payroll, I would have to put up with their corporate b.s. and that saps all the creativity and motivation right out of me.

Not to mention, there would be a bunch of "rules" that I would have to follow.

As it is now, I code when I want to. Help when and where I want to. I don't have to ask. I don't have to submit reports. I don't have to justify my actions. I just do what I feel like doing, when I feel like doing it.

In the "old" days, there was "freeware". Some programmers hated the BIG CORPORATIONS and posted code for free. They did it because THEY COULD. And some still do.

See, if my code is any good, I can use it to trade and make all the $$$$$ I need.

Why should I waste my time trying to convince someone to pay me for code that supposedly makes money? Doesn't that just seem funny? It does to me!

If the code is really any good, then I can AFFORD TO GIVE IT AWAY. Which is what I do.

If ONE of these corporations would buy a vowel and get a clue, they would set up fellowships/grants for the more productive people. Who knows what someone would accomplish if they had more resources.

I know you didn't expect me to go on a rant but recent events have caused me to be P.O.ed

Glad you liked the study.

Originally posted by kevinmclark
buzzhorton,

Your the man!!! If your not on eSignal's payroll you certainly should be. Keep up the good work.

Kevin

[OpaBert]

Dynamic S/R Zones

Here's the Study Suggestion previously described in Dynamic S/R - Posted: 07-23-2006 05:22 PM.

The premise of this study is that the more often an Open, High, Low and Close price is identified
over a given period the more likely it will act as Support / Resistance.

If we chart the most significant prices we should see the Dynamic S/R Zones.
For years chartist have been eyeballing S/R lines by connecting tops, bottoms and congestion areas.

This method attempts to identify and chart those significant S/R areas as they occur.
Thus the name "Dynamic S/R Zones" (DSRZ).

Step 1. Define the period.
In a manner similar to a moving average,
the DSRZ period is a variable value
that must be defined by the user. i.e.. DSRZ(60)

Also similar to a MA, as a new bar OHLC is completed the oldest values are replaced.

Step 2. Identify OHLC Prices.
Each completed bar in the period defined will have an O, H, L and C price that must be retained.
In order to reduce the possible number of prices to retain,
all prices are rounded up or down to the nearest ".05".
i.e.. 22.324 becomes 22.30 and 173.075 becomes 173.10

Step 3. Assign a value to each OHLC price.
If Price is Open then value = 1
If Price is High then value = 1
If Price is Low then value = 1
If Price is Close then value = 2
Because a close is considered more significant a value = 2 is assigned.

Step 4. Sum Price Values over the Period.
For every OHLC price in the defined period there will be a value
when prices repeat the values are added.
i.e.. O=25 v=1, H=25 v=1 sum 25 v=2, L=25 v=1 sum 25 v=3, C=25 v=2 sum 25 v=5.

Step 5. Determine the Price with the highest value sum for the period.

For example let's say 43.25 (rounded or actual)
was identified 11 times as either an O, H, L or C during the period,
and the sum of the values was 16
and 16 was the highest sum for the period,
Then 43.25 would represent the current S/R level.

(Note: If more than one price has the same highest value sum
Then a zone is defined by the highest and lowest price with the same highest value sum.)

Step 6. Chart the Highest Value Sum(s)
Select a S/R line color and Use a wide line width to chart the
S/R Price(s) with the highest value sum(s).

Step 7. Repeat Step 5 and 6 to determine the next highest value sum.
EXCEPT, if more than one price has the same value sum,
use the most recent / current bar price.
Do not create a zone for any prices other than the highest value sums.

Step 8. Repeat step 7 to determine the 3rd highest value sum.

Notes:
Highest, Next Highest and 3rd Highest value sum S/R price lines should be 3 different colors.

There should never be more than 4 lines generated.

Before a line can be generated it must have a value sum greater than 4.

Again for more info see the Study Suggestion previously described in Dynamic S/R - Posted: 07-23-2006 05:22 PM.

Post or PM questions.

Thanks.

[kevinmclark]

Hear Hear!!!

Originally posted by buzzhorton
NO!!

If I were on their payroll, I would have to put up with their corporate b.s. and that saps all the creativity and motivation right out of me.

Not to mention, there would be a bunch of "rules" that I would have to follow.

As it is now, I code when I want to. Help when and where I want to. I don't have to ask. I don't have to submit reports. I don't have to justify my actions. I just do what I feel like doing, when I feel like doing it.

In the "old" days, there was "freeware". Some programmers hated the BIG CORPORATIONS and posted code for free. They did it because THEY COULD. And some still do.

See, if my code is any good, I can use it to trade and make all the $$$$$ I need.

Why should I waste my time trying to convince someone to pay me for code that supposedly makes money? Doesn't that just seem funny? It does to me!

If the code is really any good, then I can AFFORD TO GIVE IT AWAY. Which is what I do.

If ONE of these corporations would buy a vowel and get a clue, they would set up fellowships/grants for the more productive people. Who knows what someone would accomplish if they had more resources.

I know you didn't expect me to go on a rant but recent events have caused me to be P.O.ed

Glad you liked the study.

[OpaBert]

Re: Dynamic S/R Zones

Back on track, still looking for an efs code that can produce this Dynamic S/R plot.

Originally posted by OpaBert
Here's the Study Suggestion previously described in Dynamic S/R - Posted: 07-23-2006 05:22 PM.

The premise of this study is that the more often an Open, High, Low and Close price is identified
over a given period the more likely it will act as Support / Resistance.

If we chart the most significant prices we should see the Dynamic S/R Zones.
For years chartist have been eyeballing S/R lines by connecting tops, bottoms and congestion areas.

This method attempts to identify and chart those significant S/R areas as they occur.
Thus the name "Dynamic S/R Zones" (DSRZ).

Step 1. Define the period.
In a manner similar to a moving average,
the DSRZ period is a variable value
that must be defined by the user. i.e.. DSRZ(60)

Also similar to a MA, as a new bar OHLC is completed the oldest values are replaced.

Step 2. Identify OHLC Prices.
Each completed bar in the period defined will have an O, H, L and C price that must be retained.
In order to reduce the possible number of prices to retain,
all prices are rounded up or down to the nearest ".05".
i.e.. 22.324 becomes 22.30 and 173.075 becomes 173.10

Step 3. Assign a value to each OHLC price.
If Price is Open then value = 1
If Price is High then value = 1
If Price is Low then value = 1
If Price is Close then value = 2
Because a close is considered more significant a value = 2 is assigned.

Step 4. Sum Price Values over the Period.
For every OHLC price in the defined period there will be a value
when prices repeat the values are added.
i.e.. O=25 v=1, H=25 v=1 sum 25 v=2, L=25 v=1 sum 25 v=3, C=25 v=2 sum 25 v=5.

Step 5. Determine the Price with the highest value sum for the period.

For example let's say 43.25 (rounded or actual)
was identified 11 times as either an O, H, L or C during the period,
and the sum of the values was 16
and 16 was the highest sum for the period,
Then 43.25 would represent the current S/R level.

(Note: If more than one price has the same highest value sum
Then a zone is defined by the highest and lowest price with the same highest value sum.)

Step 6. Chart the Highest Value Sum(s)
Select a S/R line color and Use a wide line width to chart the
S/R Price(s) with the highest value sum(s).

Step 7. Repeat Step 5 and 6 to determine the next highest value sum.
EXCEPT, if more than one price has the same value sum,
use the most recent / current bar price.
Do not create a zone for any prices other than the highest value sums.

Step 8. Repeat step 7 to determine the 3rd highest value sum.

Notes:
Highest, Next Highest and 3rd Highest value sum S/R price lines should be 3 different colors.

There should never be more than 4 lines generated.

Before a line can be generated it must have a value sum greater than 4.

Again for more info see the Study Suggestion previously described in Dynamic S/R - Posted: 07-23-2006 05:22 PM.

Post or PM questions.

Thanks.

[buzzhorton]

I think there is some market profile efs out there that you could probable modify to do this.

[OpaBert]

Dynamic S/R

So far I haven't seen anything and none of the viewers of this
thread have suggested anything that plots the specified results.

[kevinmclark]

You should checkout the Historical Volume Profile Script (V 2.5.0) at the following:

http://share.esignal.com/groupcontents.jsp?folder=Volume%20Profile%20(Historical)&groupid=114