MVA Supply / Resistance

[speakinmymind]

Could you please create an indicator that automates this process?

1.) Draw rectangle from peak of fast moving average to MVA cross.

2.) Change color to red, and extend forever (or to yr 2020)

The same for support:

1.) Draw rectangle from low of fast moving average to MVA cross.

2.) Change color to green, and extend forever (or to yr 2020)

3.) The rectangle should disappear if price has broken through the top of the rectangle (resistance) or if it has broken through the bottom of the rectangle (support). This will limit the number of boxes.

4.) The user should be able to chose how many candles closed outside the box will cause it to disappear (or this could be based off pips.) My stop is usually placed a few pips away from the box.

5.) This would be awesome if it could also be created for the Micro Pivots indicator: viewtopic.php?f=17&t=34751&hilit=+micro

Thanks alot!!!

[Apprentice]

Requested can be found here.
viewtopic.php?f=17&t=60216

[speakinmymind]

I see that I can select the micro pivots indicator in the data source, however as the indicator is designed to use the MVAs of the data input it is not using the micro pivots data.

I am hoping to be able to use the peaks, lows, and crosses of the micro pivot indicator to create the boxes.

Micro Pivots indicator: viewtopic.php?f=17&t=34751&hilit=+micro

Thanks!!

[djspinburner]

Hi Apprentice,

Any way you can put some markup into the indicator describing what each function does. I changed some parameters in the indicator for my own use and it works well. I am trying to figure out if UpFractal and DownFractal combine zones if there is a new zone inside a previous zone etc.. If you could do that that would be great, this is an awesome indicator to learn some functions from.

DJS.

[Apprentice]

Resistance
Draw rectangle from peak of fast moving average to MVA cross.

Support
Draw rectangle from low of fast moving average to MVA cross.

Tolerance will define how many price candle which disturb zone will be tolerated.

[djspinburner]

What do Fractals do?

[Apprentice]

Fractal function will detect changes in the slope of the MA.
Find Top or Bottom.

[djspinburner]

How would you change the code to not draw levels that are created as a reaction to previous levels?

[Apprentice]

You will need to devise an algorithm for this purpose.

[djspinburner]

I know that, I am asking more on the code sample you provided here, how would you add it to the code already in place?