NT8 Indicator to obtain the average movement (in points) from Supports to Resistances

[futurenow]

Hello

The situation is that every day in pre-market time I need to manually draw Support and Resistance lines for the 3 last trading days (Monday to Friday trading days, no Sundays), and with that visual information to obtain the average points of move from a symbol, for "volatility" purposes, to know the average number of points in the movements/impulses from relevant level to relevant level of the symbol (please see the attached picture).

I think in simple words, what I calculate would be the average points a symbol moved in its impulses in the last 3 trading days. But explaining it a little, if for example you are analyzing the ES (S&P Futures) then the information needed in my case is to know the average points (or ticks) the ES has moved from all the relevant levels of the 3 previous trading days, to have an approximate idea about what average movement in points could be expected in the present day.

About the support and resistance levels of the 3 previous days, I mark the most important and they normally are more or less between 7-10 levels (to have an idea), to then use the NT8 ruler to see the points from level to level (for each level), and finally to obtain the average of them.

I attached a picture for a better visual idea about all the process I'm describing here.

Taking the example in the picture, the main I need is the 14.04 points in avegare result.



Well, I do this every morning in the pre-market time as a routine to obtain a result that take me minutes and I think an indicator could make this in just 5-10 seconds, so I would like to know if someone here could help me with this, to make this process in a automatic or semi-automatic way maybe just having to manually indicate what are those 3 last trading days (to avoid to auto-chose holiday or Sunday days), and click in calculate and done!


Thank you!

[futurenow]

Oh!

I was thinking an indicator could automatically draw the Support and Resistance lines and then do the calculations to obtain and show the needed result. It could be in a similar way as shown in the picture above but it also could be in a simpler way just giving the result in a corner where the user only need to specify what 3 past days will select to make the process.

Thank you!

[NinjaTrader_Jim]

Hello futurenow,

Thanks for your post.

You could have an indicator draw your own support and resistance lines, for example, by adding a daily data series to the indicator and having it calculate what the support and resistance levels would be when looking at the OHLC points of the daily bar. You could then keep track of the last three days worth of support and resistance lines, so you can calculate average distances. Calculation of support and resistance levels may be subjective. The Pivots indicator calculates support and resistance levels if you want to look at that indicator source code to see how the levels are calculated.

The average distance can then be displayed with Draw.TextFixed to display the average distance in the corner of the chart.

Draw.TextFixed - https://ninjatrader.com/support/help..._textfixed.htm

Choosing specific three days to use may be a bit more complicated, but you could create user inputs where you can enter a date and then check in your indicator code if the date matches before assigning support and resistance values to plots, or before drawing them on the chart. ToDay() can be used to dates into integers that may be easier to work with setting up the user inputs and date checks.

Creating User Inputs - https://ninjatrader.com/support/help...d_input_pa.htm

ToDay - https://ninjatrader.com/support/help...nt8/?today.htm

We look forward to assisting.