Identify Support and Resistance Using Significant High and Low Levels

The Support and Resistance Identification System is used to identify levels of significance using significant high and low levels.

A level of significance is a level in price that can be used to enter or exit positions, or set position stops.

A significant high and low level is identified using the highest and lowest prices within price ranges.

Project Description

Significant highs and lows ae identified using price ranges.
Price ranges are identified using start indexes and end indexes to identify the highest and lowest price between those indexes.

We will be using a total of 100 candles for our identification.
The total values can be changed to suite the needs of the strategy.

Program Description

Resistance levels will be drawn based on high levels and will be drawn Blue.

Support levels will be drawn based on low levels and will be drawn Red.

Code Description

At the top of our file we will include the following code.

#include <IncludeHighLowData/HighLowData.mqh>

#include <IncludeLineObjects/LineSystems.mqh>

HLowHigh MyHighLowData;

#include is used to get the necessary data classes for our high and low identification, and drawing line types.

HLowHigh MyHighLowData we define a high and low data object, this object will be used to get high and low values.

HLowHigh is a class with the necessary methods for our system.
MyHighLowData is an object used to access the class methods.

Within the OnTick function we will add the following code.

void OnTick(){
    MyHighLowData.Add_Array_Data();
}

The Add_Array_Data method is based on the CopyBuffer function.
This method is used to add the array data to the MyHighLowData object.
Without this method we cannot access current data.

double highest_100 = MyHighLowData.High_Value(50,100);

double highest_50 = MyHighLowData.High_Value(20,50);

double highest_20 = MyHighLowData.High_Value(5,20);

Using the High_Value(start, end) method we access the most significant high between the start and end index.

The highest_100 variable stores the high value of the most significant high between the 50 and 100 index.

The highest_50 variable stores the high value of the most significant high between the 20 and 50 index.

The highest_20 variable stores the high value of the most significant high between the 5 and 20 index.

double lowest_100 = MyHighLowData.Low_Value(50,100);

double lowest_50 = MyHighLowData.Low_Value(20,50);

double lowest_20 = MyHighLowData.Low_Value(5,20);

Using the Low_Value(start,end) method we acess the most significant low between the start and end index.

The lowest_100 variable stores the low values of the most significant low between the 50 and 100 index.

The lowest_50 variable stores the low value of the most significant low between the 20 and 50 index.

The lowest_20 variable stores the low value of the most significant low between the 5 and 20 index.

Create_Horizontal_Line("Highest 100", highest_100, clrBlue);
Create_Horizontal_Line("Highest 0", highest_50, clrBlue);
Create_Horizontal_Line("Highest 20", highest_20, clrBlue);

Create_Horizontal_Line("Lowest 100", lowest_100, clrRed);
Create_Horizontal_Line("Lowest 50", lowest_50, clrRed);
Create_Horizontal_Line("Lowest 20", lowest_20, clrRed);

The Create_Hprizontal_Line function will draw a horizontal line at a significant high and low price.

High levels will be identified using a Blue horizontal line.

Low levels will be identified using a Red horizontal line.

Access to the full code: