Topic: support resistance idea

dear popov , footon
new indicator idea , it looks like using top bottom , or fractal indicators but using a specific conditions using two candles setup
the idea is to use the imbalance between buy sell pressure in past to build a support , resistance levels in current time , these new levels could be used as entry points , entry logic , even as stop loss levels

Could You build that indicator

Regards

Re: support resistance idea

How do you plan to gather the information to calculate Buy pressure or Sell pressure...... I think that could be the difficult area and once solved perhaps some logic could be developed to get the result you seek.

My 'secret' goal is to push EA Studio until I can net 3000 pips per day....

Re: support resistance idea

Hello Blaiserboy

the idea is when buying pressure >selling pressure so price go up , and if you look at the picture you will find (( the battle between buyers and sellers was at area between Line A and Line B )) and the results was the price went up  so in next visit to that zone (line A and Line B ) we test if that buying was real and if we will go up again from that level !!!!

Re: support resistance idea

ahmedalhoseny wrote:

Hello Blaiserboy

the idea is when buying pressure >selling pressure so price go up , and if you look at the picture you will find (( the battle between buyers and sellers was at area between Line A and Line B )) and the results was the price went up  so in next visit to that zone (line A and Line B ) we test if that buying was real and if we will go up again from that level !!!!

So what numbers can we use to calculate Buy pressure and sell pressure...... we need some type of number to calculate and I am wondering how you would calculate buy pressure.

My 'secret' goal is to push EA Studio until I can net 3000 pips per day....

Re: support resistance idea

hello
its not deal with numbers it deal with specific setup in the past  and after the setup has been formed the indicator build two horizontal lines" levels" and then take the decisions using these levels

The setup is :
1-1st candle is black and second candle is white &
2- the white body of second candle bigger than the black body of 1st candle ( here where i mean the buy pressure > sell pressure )
3- the two lines will be the open of 1st candle and also open of 2nd candle

Regards