Author Topic: Identify support and resistance levels  (Read 137 times)

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Identify support and resistance levels
« on: Tue, 16 April, 2019, 08:31 »
Hi,

If market feeder could identify the current odds support and resistance levels it would take the software to the next level for trading. 

Example horse A:

Price has not gone above 1.90 or below 1.80. So as a Betfair trader we want to sell high at 1.88-1.89 and buy low and 1.82-81 when the odds get to that level.

If possible this would benefit many members old and new :)

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Re: Identify support and resistance levels
« Reply #1 on: Tue, 16 April, 2019, 09:42 »
hi layfavin
I have done this simple trigger to test (I only have time machine at the moment due to betfair trying to get there betting licence back in Bulgaria) to maybe do what you want if you already do not have a workaround trigger.
the trigger checks the high traded price +0.01 above what you set to see if there has been any money placed.
it also checks the low traded price -0.01 below what you set to see if there has been any money placed.
if no money has been placed above or below the set prices , then it checks the prices from 1.90 to 1.80 to make sure that money has been placed on all prices between the set prices.
if so then it places a back bet at 1.88 to get matched at 1.88 or 1.89 , at the same time it places a lay bet at 1.82 to get matched at 1.82 or 1.81 .
not sure if it will help.

mcbee
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Re: Identify support and resistance levels
« Reply #2 on: Tue, 16 April, 2019, 10:39 »
Thank you Mcbee,

you are always helpful. I will have a look now.

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Re: Identify support and resistance levels
« Reply #3 on: Tue, 16 April, 2019, 10:51 »
Hi Mcbee,

is there anyway of getting market feeder to check the high and low price of the horse without me entering the range?

I am looking for the highest and lowest price the horse has traded at currently. To narrow the range down i am only interested in the highest  and lowest price with greater than £100 matched.

Example:

horse A currently traded at 2.02 as the highest price bet only £20 was matched/volume and £300 was matched 2 so take take 2 as the highest price.

if this is currently not available , no worries but would help massively to automate trading.

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Re: Identify support and resistance levels
« Reply #4 on: Tue, 16 April, 2019, 11:03 »
hi
the only way that I can think of is to use the traded_avg_price
then use the traded_(traded_avg_price+.01)  to check how much money was placed
and use the traded_(traded_avg_price-.01)  to check how much money was placed
the +-.01 you would add.01 to each for however many price checks that you want to check either side of the average traded price.

mcbee
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Re: Identify support and resistance levels
« Reply #5 on: Tue, 16 April, 2019, 12:10 »
Thank you Mcbee,

To help me understand how this might work, how would I do the following:

To make my the trigger a bit easier I would only look for a range of 10 prices:

Horse a 

1.90
1.89
1.88
1.87
1.86
1.85
1.84
1.83
1.82
1.81
1.80

Say the average price would be 1.85, say I want to enter at 1.88 and 1.82. The function last average trade price would be 1.85?


Help me understand how I would get it to enter an unmacthed lay at 1.81 when the price 3 ticks below the average 1.85? So if price goes below 3 ticks from last traded average enter unmatched lay at     4 ticks below which would be 1.81 from the above example.

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Re: Identify support and resistance levels
« Reply #6 on: Tue, 16 April, 2019, 12:39 »
hi
new trigger
back       r_ticks(traded_avg_price,3)    bet_amount (or whatever amount you want to bet)
lay      r_ticks(traded_avg_price,-3)    bet_amount (or whatever amount you want to bet)
set to once per selection
conditions , to make sure that the price is within the average price still.
and selections last traded price is between r_ticks(traded_avg_price,-5) and r_ticks(traded_avg_price,5)

so the above will only bet if the last traded price is +- 5 ticks , you can change the 5 to 10 , to give a wider scope , it will no affect the betting price as the betting price is fixed to the average +-3 ticks , but if the last traded is 1.80 and the average is 1.70 the back bet will be matched at the best price been 1.80 , the lay bet will wat until it goes down to 1.67.

mcbee
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Re: Identify support and resistance levels
« Reply #7 on: Tue, 16 April, 2019, 13:38 »
thank you is there a function to only trade if the price range is 10 or less? As from above 1.80 to 1.67 is 14 prices? 

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Re: Identify support and resistance levels
« Reply #8 on: Tue, 16 April, 2019, 14:00 »
hi
and trigger expression traded_avg_price is equal or less than 10

mcbee
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