LazyBear

Support/Resistance Levels based on earnings day price

NASDAQ:AAPL   APPLE INC
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Earnings S/R Levels [LazyBear]


These levels are based on price around earnings day. I have implemented support for 2 calculation modes:

Mode 1: Level = (low of 1 day prior to earnings + high of 1 day after earnings) / 2.0
Mode 2: Level = (hl2 of 1 day prior to earnings + hl2 of 1 day after earnings + close from earnings day) / 3.0

Chart above shows "Mode 1". Mode can be changed via options page.

This indicator was requested by user @mika2k1ff. I learnt more about this idea from @DanV and @TimWest (Thanks guys :)). BTW, TimWest has an indicators package, "Key Hidden Levels", that has this and more.

Do let me know how you use this, I am very intrigued by the potential this idea shows. Thanks.

For a complete list of my indicators:
- GDoc: https://docs.google.com/document/d/15AGCufJZ8CIUvwFJ9W-IKns88gkWOKBCvByMEvm5MLo/edit?usp=sharing
- Chart:
Master Index: List of all my indicators

List of my free indicators: http://bit.ly/1LQaPK8
List of my indicators at Appstore: http://blog.tradingview.com/?p=970

Related Ideas

joe_vijay PRO
2 years ago
Earnings day price as S/R level? What is the logic behind it?
Reply
LazyBear PRO joe_vijay
2 years ago
You may want to talk to one of the users I mentioned above.
+3 Reply
timwest PRO joe_vijay
2 years ago
@joe_vijay You can review the many charts I have published @timwest that explain how and why it works.
+1 Reply
sublimares2
2 years ago
I do not want to spoil the hidden levels or ER s/r levels technique in any way. There is a technique that is used in some very advanced trading platforms that reminds of the hidden levels or ER s/r levels described here and under a different name that I will not disclosed and It has nothing to do with earnings.
You know, at some point any line drawn on a chart will be touched, eventually :) but very few have valuable positions on chart- and this is the intent to find the "hidden levels" / supports and resistances.
I am attaching the same chart you posted where I kept the automated ER levels and I draw my hidden levels- just for comparison.
snapshot

As we can notice, few ER levels are near my hidden levels (coincidence?) but the very important ones are missing. Hidden levels of s&r are about pattern and not ER.
+1 Reply
LazyBear PRO sublimares2
2 years ago
Thanks for you comment sublimares2.

I don't know if this S/R idea can be trivialized like "even random lines get touched" (note I am just a trading newbie, so I may be totally wrong :) ), but even a quick visual testing shows there is some value to these levels.

I do find all these "hidden levels" pretty fascinating, though. If you have any more data on your hidden levels idea, I'd love to hear that.

+3 Reply
sublimares2 LazyBear
2 years ago
Hidden levels are useful when they are plotted at the right time and level. As you described above, what the system is plotting is merely a range and not at all the hidden levels. In no way, shape or form this contain hidden levels: 1) wrong concept (its more an unuseful 2 day pre- ER RANGE and not hidden supports/resistances) and 2) even IF some of the levels by chance are plotted at the level of a hidden s/r is unuseful because of the time of plotting (by that I mean the place on the chart).
I am not into visual testing. I need logic and some action (results) to advance the theory. I do not see any value in this one. Sorry.
snapshot
+2 Reply
MONEYMENOW PRO LazyBear
8 months ago
u r a trading newbie.. r u kidding..how come u can program code so many indicators without knowledge.. I dont believe this.. I m sure u must have made many millions.... If only I knew coding.. .. I appreciate ur work.. amzing work dude..
Reply
LazyBear PRO MONEYMENOW
8 months ago
yes..I am still a trading newbie, still learning. I use the process of developing/tuning indicators as a means to understand the price mechanics better.

BTW, I am not a full time trader...no millions here.
Reply
ChrisMoody PRO
2 years ago
Great Post
Reply
How about more stocks ? Would like to see you use some of these indicators to forecast, that way we know if they work. Who knows maybe if they have a 70%+ winning %, people might want to have/pay for exclusive rights to those indicators/overlays.
+2 Reply
BizkitBR PRO
2 years ago
love it
Reply
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