Resistance and support line

[S-Trader]

Various coders have developed custom studies in ThinkorSwim to auto-draw "pivot S/R" or "swing highs/lows," which is what you appear to be doing.

Here's a random example of one. The studies are typically based on finding the highest high and lowest low of the past X bars, so you can vary that to change the granularity of the lines that are generated. This example happens to be set on a X = 5-bar period.

And then you could also code in various other refinements to combine those pivot line locations with parameters such candlestick type (e.g., doji bars), volume, MA location, etc., etc.

Feel free to PM me if you'd like to see some of the code examples. I'm not a coder, other than being able to do some basic Thinkscript, and don't even use these studies myself... so I won't be able to help you much with any code conversions to your particular platform, etc.

 

[Nobert]

Hey Painful,

ask yourself, do you want your process to become more efficient, or do you want to make money ?

Finviz. lines is tragedy.

Don't know about other sources tho ;
i got my watchlist, 103 names and currency pairs, all was done by hand, and with joy.

 

[CannonTrading_Ilan]

Almost all good trading platforms/charting software will offer a S/R tool.

I like the following 3 below BUT I actually draw mine manually based on levels Publish daily.

CQG

Sierra Charts:

And our free software, E-Futures Int'l EFI

 

[Painfultrader]

Thanks to everyone who left some words here. I learned a lot from all of you. Finally I finished my own coding. Trading is difficult because it is like a war. S/R line is like a gun. A good gun can't guarantee a victory of war, I know that. Strategies are much more important and much more complicated. Happy new year.