Patrick Walker Flat Base
This pine script is provide recent support and resistance.
Script will use ema8, ema21, sma50 and sma200 to generate the support and resistance line.
Inspired from Patrick Walker style of trading. This is my personal logic i build studying the charts.
There is 3 types of resistance generated by this script.
1) top resistance 1
when ema8 > ema21 and low > ema8 and gap between ema21 and sma50 is less than 10% and in last 3 days previous 4th days highs is not crossed by close.
2) top resistance 2
when close/open below ema21 and ema8 > ema21 and high >= ema8 and ema21 > sma50 and gap between ema21 and sma50 is less than 10%
3) bottom resistance
when ema8 < ema21 and close/open cross above ema8 but high < ema21
Script will use ema8, ema21, sma50 and sma200 to generate the support and resistance line.
Inspired from Patrick Walker style of trading. This is my personal logic i build studying the charts.
There is 3 types of resistance generated by this script.
1) top resistance 1
when ema8 > ema21 and low > ema8 and gap between ema21 and sma50 is less than 10% and in last 3 days previous 4th days highs is not crossed by close.
2) top resistance 2
when close/open below ema21 and ema8 > ema21 and high >= ema8 and ema21 > sma50 and gap between ema21 and sma50 is less than 10%
3) bottom resistance
when ema8 < ema21 and close/open cross above ema8 but high < ema21
Release Notes:
changed condition for top resistance 1
now its only generate when ema8 or ema21 above sma50
now its only generate when ema8 or ema21 above sma50
Release Notes:
Added Relative Strength Line and Relative Strength 21 and 50 into the table
Release Notes:
added rsline 200 and rs 200
Release Notes:
bug fix in color code
Release Notes:
Added input value for gap between 21 & 50. so user can set as per their need.
Default value is 10
Default value is 10
Release Notes:
updated condition for top resistance 1 and 2
minimum 3 days required ema8 > ema21
minimum 3 days required ema8 > ema21
Release Notes:
Updated bottom resistance condition
added close need to be below sma50
removed high need be below ema21
added close need to be below sma50
removed high need be below ema21
Release Notes:
updated top resistance code condition to check ema8 > ema21 for at least 3 days
Release Notes:
updated bottom resistance code condition
Release Notes:
Added one more resistance code
i called it downdays resistance
when close < open but close > (high+low)/2 then its generate the resistance.
i called it downdays resistance
when close < open but close > (high+low)/2 then its generate the resistance.
Release Notes:
bug fix in down days resistance condition
Release Notes:
Added volume condition for down days resistance
Release Notes:
updated bottom resistance condition
now it will check for close < ema21 and high >= ema21
now it will check for close < ema21 and high >= ema21
Release Notes:
removed open/close above ema8 condition for bottom resistance code
Release Notes:
removed open < sma50 for bottom resistance code.
Release Notes:
Added 5 & 10 Days Pivot Points
Release Notes:
Added 20 days pivot point
Release Notes:
Added Hide / Show input for all the lines.
Release Notes:
changed bottom resistance condition to high > sma50 and close < sma50
Release Notes:
changed bottom resistance condition
Release Notes:
Added 252 days high resistance if next 15 days highest close is not crossed that high.
Release Notes:
Added option to draw recent latest 252 days high resistance or multiple in last 5 years
speed improvements in 252 days high resistance code.
speed improvements in 252 days high resistance code.
Release Notes:
bug fix in 252 days recent high code
Release Notes:
Added option to hide/show Relative strength table
Release Notes:
bug fix in 10 days pivot point code
Release Notes:
bug fix in 10 days pivot points code
Release Notes:
code improvements in 252 days high resistance line.