StockFetcher Forums · Filter Exchange · Improving Support or Resistence lines<< >>Post Follow-up
kbellare
2 posts
msg #119559
Ignore kbellare
5/10/2014 2:45:59 AM

Also, the pre-built Support/Resistence lines are quite weak - most are not horizontal and often they don't connect two troughs or peaks.

1) How do i develop strict Support/Resistance lines - Lines that are "nearly" horizontal i.e. slope is almost 0) and also connect at least 2 troughs/peaks and ideally 3 troughs/peaks?

2) Can i reference the Support/Resistence line price as my Entry or Exit condition in backtesting? e.g. if Close crosses above Resistence, Buy at 1% above Resistence and StopLoss at 3% below Resistence line?



Eman93
4,659 posts
msg #119880
Ignore Eman93
5/16/2014 12:03:07 AM

2) Can i reference the Support/Resistence line price as my Entry or Exit condition in backtesting? e.g. if Close crosses above Resistence, Buy at 1% above Resistence and StopLoss at 3% below Resistence line?

-------------------------------

I dont think you can..... just draw on your charts... then set limit buys...then just wait. not that hard.

This is how people have traded since they first began to plot price,, support or resistance is the place the value buyers, the market makers and the tech traders all align, this is what changes the direction.

http://stockcharts.com/public/1424685

StockFetcher Forums · Filter Exchange · Improving Support or Resistence lines<< >>Post Follow-up

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