📄 support resistance levels.afl
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//------------------------------------------------------------------------------
//
// Formula Name: Support Resistance levels
// Author/Uploader: Graham Kavanagh
// E-mail: gkavanagh@e-wire.net.au
// Date/Time Added: 2003-05-22 22:25:51
// Origin:
// Keywords: Support Resistance
// Level: medium
// Flags: indicator
// Formula URL: http://www.amibroker.com/library/formula.php?id=282
// Details URL: http://www.amibroker.com/library/detail.php?id=282
//
//------------------------------------------------------------------------------
//
// Indicator to show support and resistance levels based on RSI indicator
// reversals
//
//------------------------------------------------------------------------------
//Support and resistance levels using RSI.
//graham Kavanagh May 2003
//Load into Indicator Builder
//Sensitivity of the levels can be changed with the variables
//Can test different numbers live with the Param function ctrl-R with open pane
RSIperiod = 5; // Param("RSI p",3,14,30,1);
Percent = 5; // Param("ZIG %",8,9,15,1);
EMAperiod = 5; //Param("EMA p",4,5,10,1);
HHVperiod = 5; //Param("HHV p",3,5,10,1);
NumLine = 1; //Param("Num Lines",3,1,20,1);
Base = DEMA(RSI(RSIperiod),EMAperiod);
GraphXSpace=0.5;
Plot(C,"",colorBlack,styleCandle);
for( i = 1; i <= numline; i++ )
{
ResBase = LastValue(Peak(Base,Percent,i));
SupBase = LastValue(Trough(Base,Percent,i));
Plot(ValueWhen( ResBase==Base, HHV(H,HHVperiod) ), "Resist Level", colorRed, styleLine);
Plot(ValueWhen( supbase==Base, LLV(L,HHVperiod) ), "Support Level", colorGreen, styleLine);
}
Title = Name() + "; " + Date() + ": Support & Resistance Levels using RSI: " + /*EncodeColor(colorGreen)+ "Support Levels are Green; "+EncodeColor(colorRed)+ "Resistance Levels are Red: "+EncodeColor(colorBlack)+*/ "Num lines ="+WriteVal(numline,1) ;
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