All language subtitles for 3. Support & Resistance

Hi, everyone, and welcome in this new video.

In this video, I will show you how to create some support and resistance.

The first thing to know is that there are a lot of way to create support and resistance.

You can use moving out rage.

You can use body to roll.

You can use the max value on end days on the previous day, Exeter and in our case, we will create

a support.

We will take that this circle is a support if the five consecutive decrease of the low price.

And if we have five consecutive increase of the increase, we will not this fiscal as a resistance.

So it's a very personal way to create them, but you can check for your own way to create the support,

so to create a name using Python.

It's very simple.

First, we need to create some empty column name support and resistance and containing only missing

value.

It's very important.

In our case, we cannot put only zero.

On the column, we need to put men value, and I will detail in the Nixon White.

Then to put some value in the support column.

We just need to create a condition, and the condition is very simple.

If we have this five condition in the same time, we will put the value of the load on the support column.

And these five conditions are very, very easy.

We just need that we have five consecutive degrees of the low price.

It means that five day before today we need that to price.

Was lower was greater sorry than the price five days before today, and the price five full days before

today needs to be greater than the prior three days before today.

And this until Tuesday.

And for the resistance is exactly the same thing.

It means that we need to have five consecutive increase of the aid price to put this threshold as a

resistance.

So let me show you graphically what we have done the.

First, we need to plot the candlestick to be sure that we can verify or implementation, so to plot

the candlestick.

We'll use this port of call.

So.

First.

We'll just create another dataframe, very, very small one month, for example, to have a better visualization

that we can put like three months or six months, but know only one year is too begin to have a better

with a good visualization on the graph.

Then we initialize our graph.

We plot the candlestick.

So this is just the.

Multiple finance function, so it demand the.

So this and.

The date, the open, the eye, the low and the close for each candlestick.

It seems logical then is just cooler here, and we can apply and no further transparency.

And here we can apply.

We can change the width of the candlestick exige.

Then here is to.

Puts.

To date, in the correct format, for example, here we put day, month year, OK, so it's not very

important to focus on this line of goods.

The most important thing is the graph, OK, because when will when you will trade your own strategy?

The graph doesn't really matter.

OK?

The graph is just here to verify your computations.

And then for each venue, which is not equal to none in the resistance column, we will plot a line.

From the date, so from the date of the resistance to the end of the graph.

And here is just to change the type of line the line with acceptable, so it it's not really important.

For the Cypriots, we do exactly the same thing.

OK.

And we can just.

Check a little bit.

The zip function here for this, if you are not comfortable with this function, it's very simple.

Instead of create like a loop full with one.

Value, we will change.

We will create a loop full with two values, and in all case we will take.

The resistance and the date for each resistance to be able to plug them on the graph.

So if I put this.

We can see.

The candlestick of the euro, you is deep, and I really wanted to take this asset, at least for its

assets, because I wanted to isolate you.

That's using why finance the forex data or not?

Very good.

OK.

It should take some stocks data.

It's we need better.

But as I have said in many of my other courses, if you want to create a strategy, you need to use

the broker strategy and we will use them at the end of this chapter.

OK.

But to trade this strategy, I always used personally, it's a personal treat the way finance data.

OK?

It's very simple to import it, to plug them, etc. So.

I used white finance to trade my strategy because.

It's easy to import exit Europe, but.

To create the trading strategy you can use.

Use the white finance data.

OK.

You need to be as close as possible to the market.

And so you will take the broker's data.

So and here we can see that.

Graphically, we can tell that we have good resistance and support because here, for example, we have.

Five increase of the price.

So we put a resistance, and here we have five degrees of the low price.

So we put her supports.

OK, so we have correctly implement this.

But if, for example, a print one year, for example, 2019, OK.

We can see that we have a lot of support and with assistance and is not really.

On stable graphically.

OK, so you fixed this issue, will take exactly the same grid and will apply the field and the method

to the support and resistance column and the filani method will be very useful in this case.

I will show you why and graphically, it's a better way to show you.

It will take all the support and resistance official to create only one line.

So.

It's very important to keep.

This Collins OK, because support and resistance or very useful when you want to create a trading strategy,

usually we must use only support and resistance, but.

It's a very important indicator when you want to trade using price action.

So.

I will invite you to understand how to treat them and to create this type of indicator to customize

your strategies.