Patrick Walker Flat Base

21 apr 2023

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

22 apr 2023

Note di rilascio

changed condition for top resistance 1

now its only generate when ema8 or ema21 above sma50

22 apr 2023

Note di rilascio

Added Relative Strength Line and Relative Strength 21 and 50 into the table

22 apr 2023

Note di rilascio

added rsline 200 and rs 200

22 apr 2023

Note di rilascio

bug fix in color code

22 apr 2023

Note di rilascio

Added input value for gap between 21 & 50. so user can set as per their need.
Default value is 10

22 apr 2023

Note di rilascio

updated condition for top resistance 1 and 2

minimum 3 days required ema8 > ema21

23 apr 2023

Note di rilascio

Updated bottom resistance condition

added close need to be below sma50

removed high need be below ema21

1 mag 2023

Note di rilascio

updated top resistance code condition to check ema8 > ema21 for at least 3 days

1 mag 2023

Note di rilascio

updated bottom resistance code condition

2 mag 2023

Note di rilascio

Added one more resistance code

i called it downdays resistance

when close < open but close > (high+low)/2 then its generate the resistance.

2 mag 2023

Note di rilascio

bug fix in down days resistance condition

2 mag 2023

Note di rilascio

Added volume condition for down days resistance

2 mag 2023

Note di rilascio

updated bottom resistance condition

now it will check for close < ema21 and high >= ema21

2 mag 2023

Note di rilascio

removed open/close above ema8 condition for bottom resistance code

2 mag 2023

Note di rilascio

removed open < sma50 for bottom resistance code.

12 mag 2023

Note di rilascio

Added 5 & 10 Days Pivot Points

12 mag 2023

Note di rilascio

Added 20 days pivot point

12 mag 2023

Note di rilascio

Added Hide / Show input for all the lines.

15 mag 2023

Note di rilascio

changed bottom resistance condition to high > sma50 and close < sma50

15 mag 2023

Note di rilascio

changed bottom resistance condition

17 mag 2023

Note di rilascio

Added 252 days high resistance if next 15 days highest close is not crossed that high.

19 mag 2023

Note di rilascio

Added option to draw recent latest 252 days high resistance or multiple in last 5 years
speed improvements in 252 days high resistance code.

19 mag 2023

Note di rilascio

bug fix in 252 days recent high code

21 mag 2023

Note di rilascio

Added option to hide/show Relative strength table

24 mag 2023

Note di rilascio

bug fix in 10 days pivot point code

24 mag 2023

Note di rilascio

bug fix in 10 days pivot points code

26 mag 2023

Note di rilascio

code improvements in 252 days high resistance line.