How to easily find Support and Resistance Levels - Stock Market Analysis using Python

[@aflous]

Excellent content! Finally a python channel worth following 😊

[@FoxyFi]

Thank you Aflous! Am super happy you enjoy the content! 🙏🙏🤩

[@MettaZen]

Daaamn editing just got upgraded 😎 nice intro, appreciate the content, thank you!

[@FoxyFi]

Thanks Fabian!!

[@raquellopes1982]

Very useful, Thank you! Really enjoyed the humor at the beginning 😂

[@FoxyFi]

Thank you Raquel! 🙏🙏🙏

[@oliverpolden]

I would build up a list of similar levels and calculate their average and an “importance” depending on how many lows or highs are at that level. Then in you could perhaps ignore a level if its importance is low in preference of a moving average as a target, if that moving average is “close”. In backtesting you could play with the importance level. You could also incorporate higher timeframes whose levels may be given a higher importance.

[@jgrade9694]

Realy amazing work!! I would love to see the support and resistance zones adaptation to this code as well. Thanks for sharing your knowledge!!!

[@flydr2]

WOW... I sure you gave this a lot of thoughts... It's definitely complex... Thanks for a great tutorial... Extremely helpful

[@FoxyFi]

Thanks Marc! Am glad you enjoyed the tutorial!

[@iliasproko7341]

Awesome Content! Thank you for your tutorials!

[@FoxyFi]

Thanks for the feedback Ilias! 🙏🙏

[@drizzle4728]

Thank you

[@ashishdakey5797]

Intro was so funny dude 😂

[@FoxyFi]

Thanks for the feedback! 🙏🤗😂 glad you liked it hehe

[@mehranhub8312]

please keep going on your videos , it's amazing 🤑🤑🤑

[@steeltormentors]

Great stuff and I like how clean the final output is! In future videos, can you increase the font size of your code so it's easier for us viewers to read the code? More content like this please! Awesome!

[@FoxyFi]

Thank you for your feedback! Am very glad you enjoyed thr content! I will make sure to increase the font a bit going forward to make it easier to follow along and read

[@TensaiCollectibles]

Subscribed! Very thorough. Great teacher!

[@FoxyFi]

Thanks For the awesome feedback! 🙏🤗

[@gouthamkaranam3825]

Thank's a lot.

[@FoxyFi]

Most welcome 😃

[@sukriadnansangadji8232]

this is good expalanation thanks sir

[@user-ov6om6yv7i]

Very useful,thank How can i add ema in the chart

[@marianalopes9733]

Cool!

[@FoxyFi]

🙏🙏🙏 thank you Mariana!

[@anotherone4657]

Nice explanation

[@FoxyFi]

Thanks for the feedback!

[@pierregardner3752]

Dear , is it possible to count and display all the noisy resistance and support levels that are cleaned to one level so you can determine the weight of that level ? Nice video keep on the good work !

[@FoxyFi]

Hey! Thanks for the feedback. Absolutely u could. Instead of discarding them in the for loop, i would suggest you create a new list with them and then you just plot them in with a new trace.

[@pierregardner3752]

Dear , i mean if you grouped 4 levels to one , is it possible to place the number 4 at the diplayed level ?

[@mussaalamri10]

Great work. I have a question about the candlestick chart. is it possible to show the price, close, open of candle when you point on it on the chart? I tried to modify your code and use go.Candlestick function but i did not work.

[@FoxyFi]

Thanks for your feedback! This chart is generated with mpl_finance and matploib. I didnt explore adding that to the chart itself but it should be possible. One sokution i found reading is in this stackovdrflow post link: stackoverflow.com/questions/11779315/mouse-hover-in-matplotlib-candlestick-for-python I also did a video on using the backtesting library for algo trade strategy testing. You can also use that which will give you a very complete and detailed graph with those functionalities already. But resistance and support would have to be implemented onto it manually similarly to what i did here with matplotlib. Hope this helps.

[@BeyondTheHodl]

Great video! I was wondering what would the code be if I want to have the horizontal lines stop once price has hit/crossed it instead of having them print until current price? thanks in advance!

[@FoxyFi]

Thank you so much! That is definitely possible. You only have to play around with the Plotly X,Y settings for these traces lines. The Plotly library has excellent documentation I would suggest you to go wild with it! Otherwise if you want to get quicker around it use Chat GPT and pass the code + what sou wish to have improved. I see myself using chat GPT to code almost on a daily basis thee days as it boosts up productivity so much in this area😂 Let me know if that helps!

[@gouthamkaranam3825]

can someone explain this exact line please.. time 16.32 to 17.10 np.sum([abs(x-y) < mean for y in levels]) == 0 what i understand is that, first a list is getting created with all the abs differences between x and y, then we do the sum of this list and see if this == 0. i was thinking that this list will never be zero. which means that we might not get a second resistance or support after we have 1 level item.

[@gouthamkaranam3825]

got it, here it is.. abs(x-y) < mean for y in levels gives list of TRUE or FALSE, then we sum it, if the count is > 0, then the function returns FALSE. which means its matching with at least 1 of the prior levels.

[@FoxyFi]

So in that line essentially you are checking if the resistance levels you obtained (each level in that levels list) is affected by volatility. Essentially you would get too many resistance levels if you do not account somewhat for volatility. In this case volatility is extracted as the average diff between highs and lows (what you see as the mean volatility in the code there). If you want to remove all resistance levels that are in theory just the mean volatility moves and not "real resistance levels" then you check if each price point minus the resistance level you identified is less than the mean volatility level (which would mean that the low price point (x) has moved up and beyond the mean (volatility) and is a new resistance level. So if the sum of all those conditional tests is 0 (meaning the price point reached a new high beyond the noise of volatility of every level within that list) then you consider it a real resistance level. Essentially you are taking that list and discarding every item that is a resistance level below what the price could potentially move with volatility alone.

[@mohitgarg4168]

Can I add two coloums in Dataframe; one for nearest support and one for nearest resistance.

[@FoxyFi]

Absolutely. You could add 1 more column to store the latest support and resistance or you can go into the levels and level_types lists and loop through them to retrieve the last resistance and last support level added.

[@mohitgarg4168]

@@FoxyFi is it possible to give me the code plzz

[@dzxni]

Thanks!

[@mojtabahajilari]

very good.

[@FoxyFi]

Thanks mate !!! Happy you enjoyed the video

[@mojtabahajilari]

@@FoxyFi 😘

[@nyyx28]

Is there a way to do this with a line graph?

[@FoxyFi]

Hey. Sure thing. You need to graph the close prices or just the highs or just the lows (or mean of those) across time and then you could just use plot a plotly line graph instead.

[@ivanetinajero]

Great content. Can you share us the source code?. Thanks

[@FoxyFi]

Hey thank you so much for the feedback! Here is the code: colab.research.google.com/drive/16yWD7FJ-moOc9jjymDgQjLXvW-yPKSf3?usp=sharing

[@jdf2159]

Do you maybe have a Python Source code for auto trendlines?

[@FoxyFi]

Hey! I have another tutorial on my chanel covering some of that called Stock Market analysis using python.

[@jdf2159]

@@FoxyFi Can you maybe send me the link of that video please?

[@FoxyFi]

@@jdf2159 sure. kzbin.info/www/bejne/nICcq5KHnMaDqZo