Moved: Support Resistance Finder

Hi Mathew,

I’m running v.16, Bld 75 and the “Support and Resistance Finder” is not listed in “Tools > Levels” (also as mentioned in the KB article). I found it by searching for “Support” and subsequently found it listed under “Gann”.

I then tried it with Pivot Min = 5 (with backwards or both) and and 5% tolerance on CLVolSpot but it did not show any S&R levels☹ I finally had R bands (no S bands) with Tolerance at 10% and 15%. The other calculation options all produced S&R bands. Maybe it’s just this market, so I tried SBVolSpot with Pivot MIN =5 and stepped up the Tolerance in 5% increment s to 100% - no S&R Bands☹ Here’s a screenshot of SBVolSpot with Pivot Min = 5 and Tolerance = 20% which I’d expect to show a band where I’ve placed the Horizontal Line:

20200810 S&R Finder with Pivot Labels

Am I missing something here or is it not quite working as it should☹

Aside from those potential issues, this looks like it will be a very useful tool. Many thanks.

Cheers

Trevor

Hi Trevor,

I moved this into a new thread as I did not want multiple topics in the PPO thread.

Re Group: Doh! I forgot to specify the group where I wanted this. It will move to “Levels” in an update soon.

I always use Gann Swings - I can not see anything on the pivot labels selection so I’ll get that looked at.

All the best

Mathewsrf

Hi Mathew,

I too tend to use Gann swings all the time but decided to try the options to see how it all worked.

I’d tossed up on starting a new thread but what I found arose from following the PPO thread and your comments there. All the same, your moving to a new thread is the appropriate action.

Cheers

Trevor

 

Hi guys, just wanted to add an idea/suggestion for the Support/Resistance tool. Its a neat and handy tool actually and can reveal some good detail.

I’ve noticed when a new price bar enters into a shaded region, the zone will disappear. Would it make sense to have the zone change to a different color when price first enters the zone to suggest a caution that the zone may get recalculated and readjust? I find myself having to use training mode to backtrack to look at prior shaded regions to remind myself what it was showing.

Jeff

Here is a potential work around and/or reference idea for the tool:

I added a Volume at Price and made the bars transparent to display a visual column with added horizontal lines that could keep track of ranges of zones, including a region that is not showing on the screen because price is inside. See attached.

Jeff

Hi Jeff,

Yes, I can see the value in that. It is not trivial as we wrote the tool as a “snap shot” rather than as a calculation for each bar on the chart. We’ll have to add some more work to it.

All the best

Mathew