Support / Resistance heat maps

Jinxed · Jul 29, 2009

I have developed a new trading plugin but have no idea if it has been done before or if people would like to trade with it. It basically shows support and resistance statistically. It requires a high end GPU graphics card but it looks quite nice

Screen shot attached. So has anyone seen this before? Is it worth me pusuing the development further?

dcraig1 · Jul 30, 2009

Could you explain in a little more detail what this chart is showing ?

rathcoole_exile · Jul 30, 2009

Jinxed said:
So has anyone seen this before? Is it worth me pusuing the development further?

i know people who have taken this to the next level,
the extreme.

It's a bit technical for me,
but I believe they refer to it as

a "straight line" ?

Vaco · Jul 30, 2009

rathcoole_exile said:
i know people who have taken this to the next level,
the extreme.

It's a bit technical for me,
but I believe they refer to it as

a "straight line" ?

Rt, you really should try and get to grips with the technology behind the straight line you will find trading is mush simpler and very profitable once you do.

I know it all seems complicated compared to your pivot point computations but i promise will improve your profits 1000%:clap:

Jinxed · Jul 30, 2009

The chart shows all of the trend lines statistically from all candles up to a specified lookback period. It gives a good idea of where support and resistance are without having to zoom out of the graph. In this graph blue is support red is resistance, the greater the colour gradient the more significant the trend is....

NetTecture · Jul 30, 2009

It requires a high end GPU graphics card

I doubt that. Seriously. Can be offloaded on an GPU that works DirectX 10 level. Nothing in there is high end requirement.

That said, I like the idea.

Technically Fundamental · Jul 30, 2009

What does the x-axis represent?

Jinxed · Jul 30, 2009

The X-axis represents the number of candles back from now. I.E -100 = 100 candles ago. Attached is another example with time > 0 shown. I.E the support/resistance is projected into the future.

GammaJammer · Jul 30, 2009

I think the issue that a few people will have with this is that there doesn't seem (if I'm reading it right) to be much in the way of horizontal S/R on there. Which of course tends to be more powerful than other levels (for various reasons).

So amidst a few slightly flippant replies, I think the feedback to take back might be that it's pretty, but risks being a little bit of a gimmick

Jinxed · Jul 30, 2009

Thanks for the constructive feedback, I am working on a Horizontal S/R version which is actually a simpler problem. I'll post the pictures back here when I have them

Jinxed · Jul 30, 2009

The intensity is governed by the number of candles between bounces from a given S/R line so you don't really get a measurement of the strength of the reaction. That is something that I will have a think about though. I do have a few other of what I call 2d indicators, the SRMaps are just one example of something that I have been playing around with. I wonder if I can put some volume information in there to get the strength of the reactions shown as you suggest. Hmmm food for thought.

Technically Fundamental · Jul 30, 2009

could you do one that factors in points of prev resistance become support going waaaaay back and their relevance based on highs/lows traded in a period of say 100 following bars relevant to say monthly range?

Jinxed · Jul 30, 2009

Hi,

I am working on the ability to see how the price action reacted to the levels that the software detects, is that what you mean? I am not quite there yet as I have only just proven the concept. If you would like me to generate a specific chart just specify the instrument and timeframe and I will post it up. I can only grab data from MetaTrader Demo at the moment so I am limited to Fx/Commodity Futures and Major equities.

Regards,

James

GammaJammer · Jul 30, 2009

Jinxed said:
I wonder if I can put some volume information in there to get the strength of the reactions shown as you suggest. Hmmm food for thought.

Possibly in equities, definitely not in FX. No official volume data to use.

Support / Resistance heat maps

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