Support and Resistance Zones
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Hi everyone, I am looking to try and create an Expert Advisor that composes of all of these different patterns and strategies:
Chart (With Support & Resistance) Patterns:
- Double Top and Double Bottom Pattern
- Head & Shoulders and Inverse Head & Shoulders Pattern
- Pole and Flag Pattern
- Ascending Triangle and Descending Triangle Pattern
- Pennant Triangle Pattern
Harmonic Patterns: - Gartley Pattern
- Cypher Pattern
- Bat Pattern
- Butterfly Pattern
- Crab Pattern
I am quite new to fxdreema and the coding realm but, I want to create an EA for myself and anyone who asks for it. I've been utilising these strategies for a while now and they work in combination with each other. I have written out in depth how each chart pattern works.
I cannot find nor create a Support and Resistance Zone based indicator or piece of code. This has stopped me from being able to create my other conditions for my chart patterns.
So, I was wondering if anyone could help me with creating Support and Resistance Zones based on previous price Reversals/Retests?
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I have seen a few examples of others completing some form of Supply and Demand Zone however, I wish for someone to explain this indicator or set of code so I can create conditions for my other chart patterns. Otherwise it will be useless to me and I would rather complete my project in the next few months so I can start demo trading and then start trading in the New Year 2024.
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Creating such a huge project would require an immense amount of time and effort. Are you sure you are ready to dedicate it in order to do it on fxDreema? And more important, are you completely sure that is worth your effort? I'm telling you this because I've seen so many people asking for projects like you and then discovering it wasn't worth their time.
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It's worth my time because I want to invest my time and effort into something that I know works.
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@ConorTucker - Hey mate, it sounds like your Project may have too many blocks. It may lead to severe lags and errors during compilation and testing due to the FxDreema pltf. limitations. As an option, you could review to import a Custom Indicator w/ Harmonic patterns for a start. That expedite the development and will optimize the bot's performance
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Then, add a couple of filtering Condition blocks according to your strategy plan. That would be a good start.
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In case, your Harmonic indie is not open-source, check out threads below on how to import those. Good luck!
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@GeoFX Ah right, I believe I understand. So the strategy ideas all combined could cause a lag or latency issue with MT4 when trading and potentially cause issues. So the bets way to optimise the code will be to create/import custom indicators of these specific chart patterns to benefit the code itself?
Also, can you give me more links for finding such indicators or tutorials based on similiar concepts please? I appreciate your response mate thank you!
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- @ConorTucker no mate, the lagging doesn't take place during the trading, but it may occur during the algo compilation when your bot comprised of 500+ Condition blocks. To avoid that, indi import encompassing the Harmonics patterns would significantly reduce the Condition block count
- As per harmonics indi i will not be able to advise any as i'm not into them. Instead, my best advice: make sure the indi Buffers are available through the Colors section so you can easily control the signals indi generates. You can use Trace/Trace Activity blocks to identify which Buffer/Color controls a certain signal and what candle #ID it generated on
