Horizontal Lines Recent Support Resistance

Horizontal Lines Recent Support Resistance
 

How To Use Horizontal Lines Recent Support Resistance Amibroker AFL?

Horizontal Lines Recent Support Resistance afl identifies the recent support resistance. This afl is more useful for  intraday as well as swing traders.  It correctly detects the top and bottom of latest swing. Buy only if candle breaks yellow resistance line similarly sell only if candle breaks blue line. These lines can also act as a reversal point too. Horizontal Lines Recent Support Resistance afl can be used in any time frame in any market. Always use any indicator for an additional confirmation.


//www.aflcode.com

SetChartBkColor(64);
RSIperiod = 15; // Param("RSI p",30,14,30,1);

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   = 3; //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) ; 
//=======================================================================================

TimeFrameSet(inHourly);
Baseh = DEMA(RSI(RSIperiod),EMAperiod);
for( i = 1; i <= numline; i++ )
{
ResBaseh = LastValue(Peak(Baseh,Percent,i));
SupBaseh = LastValue(Trough(Baseh,Percent,i));

TimeFrameRestore();
basehexp =TimeFrameExpand(Baseh , inHourly);
Plot(ValueWhen( ResBaseh==Basehexp, HHV(H,HHVperiod) ), "Resist Levelhrly", colorYellow,styleLine);
Plot(ValueWhen( supbaseh==Basehexp, LLV(L,HHVperiod) ), "Support Levelhrly", colorAqua,styleLine);
}
//=====================================================================================

TimeFrameSet(4*inHourly);
Base4h = DEMA(RSI(RSIperiod),EMAperiod);
for( i = 1; i <= numline; i++ )
{
ResBase4h = LastValue(Peak(Baseh,Percent,i));
SupBase4h = LastValue(Trough(Baseh,Percent,i));

TimeFrameRestore();

base4hexp =TimeFrameExpand(Base4h , 4*inHourly);
Plot(ValueWhen( ResBase4h==Base4hexp, HHV(H,HHVperiod) ), "Resist Level4hrly", colorCustom12,styleLine);
Plot(ValueWhen( supbase4h==Base4hexp, LLV(L,HHVperiod) ), "Support Level4hrly", colorBrightGreen,styleLine);
}
//=====================================================================================

TimeFrameSet(inDaily);
BaseD = DEMA(RSI(RSIperiod),EMAperiod);
for( i = 1; i <= numline; i++ )
{
ResBaseD = LastValue(Peak(BaseD,Percent,i));
SupBaseD = LastValue(Trough(BaseD,Percent,i));

TimeFrameRestore();

baseDexp =TimeFrameExpand(BaseD , inDaily);
Plot(ValueWhen( ResBaseD==BaseDexp, HHV(H,HHVperiod) ), "Resist LevelDAIly", colorOrange,styleDashed);
Plot(ValueWhen( supbaseD==BaseDexp, LLV(L,HHVperiod) ), "Support LevelDAIly", colorDarkOliveGreen,styleDashed);
}
//=====================================================================================

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