I am new to Wealth-Lab and have a couple of questions.
1. How would I put in a criteria such as
Histogram is x% above the previous day Histogram amount
2. How can I find and use the Resistance and Support levels.
For example in addition to other criteria I want the stocks x% above (or maybe also below) the support level.
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1. For any indicator (not just MACD Histogram): Conditions > General indicators >
Indicator is above/below its value a number of bars ago. Not exactly the "x% above" but should go for a start. Meanwhile I'll mark to add this "x% above/below" criteria to our
Community.Rules project.
2. Depends on how you define those S/R levels. How exactly?
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1. Thanks I'll give it a try
2. I was initially going to use the S/R as defined by Fidelity
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2. I'm not familiar with what you mean (and I don't work with ATP). There are many ways to define S/R levels. Could you clarify?
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Added to
Community.Rules:
* General Indicators > Indicator is X% above (below) its value a number of bars ago
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1. I tried your suggestion, however the histogram is not a select-able indicator. Since I am very new maybe I am missing something. If you have an example it would be helpful.
Also since I really want the % above/below, when and how, would I be able to get the updated community rules.
2. I'm not sure of the complexity of what I'm asking since I have been using what ATP generates for me for the support level. I am interested in testing my strategy for stocks that are at the support level and potentially breaking out based upon my strategy.
Another idea - are there any strategies that have been provided elsewhere that trade between the support and resistance levels. It may have a coding that I could use or at least get an idea.
btw - I hadn't said it yet but thanks for your help and patience
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1. I tried your suggestion, however the histogram is not a select-able indicator.
Also since I really want the % above/below, when and how, would I be able to get the updated community rules.
It'd pretty easy to do Histogram in code directly with the help of the built-in
Divergence indicator (see the code example). But since you're using Rules, here you have it without the extra step:
MACDEx_Histogram in
Community Indicators libraryTo allow download both the extension and the Rules library we'll need to verify your WLP entitlement. For that please
create a support ticket for further instructions.
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Another idea - are there any strategies that have been provided elsewhere that trade between the support and resistance levels.
Sure there are but I doubt that Rules are sufficient to build any strategy based on support/resistance levels:
A.
Support and Resistance Zones, visual tool only (not suitable for backstesting)
B. various pivot levels:
Floor Trader Pivots and
Camarilla Points
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