/******************************************************************** Title: Speed Resistance Lines Script for eSignal 10.x By: Chris D. Kryza (Divergence Software, Inc.) Email: ckryza@verizon.net, ckryza@sr-analyst.com Web: http://www.sr-analyst.com ====================================================================== Project Description: This indicator allows you to draw sets of speed resistance lines using the EFS mouse interface. Speed resistance lines are a series of trendlines that divide a price move into three equal sections with each line defining a different rate at which pricing expectations are changing. Prices should find support at the 2/3 line (i.e., the middle line). When prices do fall below the 2/3 line, they should quickly drop to the 1/3 line (i.e., the bottom line) and find support there. When price is rising, speed resistance lines are generally drawn from a major low to a major high. When price is falling, speed resistance lines are generally drawn from a major high to a major low. To create a speed resistance line set, you first click on the "S" button that appears at the bottom-left of your chart once the indicator has been loaded. Then you double-click on two points on the chart and the indicator will draw the speed resistance lines between those two points (bars) and extend them into the future by a user-defined number of bars. Multiple sets of speed resistance lines can be drawn on any chart by repeating the process outlined above. A set of speed resistance lines will remain on the chart until the set is explicitly deleted. Steps to Draw a Speed Resistance Line Set: 1. Load the SpeedResistanceLines.efs indicator into your chart. When loaded, you will see a small button at the lower-left of your chart labelled "S" (i.e., "S" for SpeedLines ). 2. Click once on the "S" button. The "S" button will be replaced by a prompt "Double-Click on First Point...". Move your mouse cursor near the high or low of any bar on your chart and double-click. A triangle will appear above or below the point where you clicked. Double-clicking near the high of a bar will select the bar high as the starting point. Double-clicking near the low of a bar will select the bar low as the starting point. 3. The prompt will now change to "Double-Click on Second Point to Finish Speed Resistance Line...". Move your mouse cursor near the high or low of the second bar and double-click. The new set of speed resistance lines will be drawn from the first point through the second point and extended into the future. The number of bars it is extended is governed by the Speed Line Extension option in the indicator menu. Steps to Delete an Existing Speed Resistance Line Set: 1. Each set of speed resistance lines drawn by this indicator will have an "Action Tag" drawn just to the right of the end of the primary speed resistance line. Just double-click your mouse on this Action Tag and the associated set of speed resistance lines will be removed. How the Speed Resistance Lines Alerts Operate: 1. If the "Alert on Close Only?" menu option is set to True, the indicator will check for alert conditions on the close of each bar. If a bar closes above a speed resistance line (and the prior close was below or equal to the speed resistance line) then an alert will be generated. If a bar closes below a speed resistance line (and the prior bar was above or equal to the speed resistance line) then an alert will be generated. 2. If the "Alert On Close Only?" menu option is set to False, the indicator will check for alert conditions on each new tick. If the high of a bar pushes above a speed resistance line (and the high of the prior bar was below or equal to the speed resistance line) then an alert will be generated. If the low of a bar pushes below a speed resistance line (and the low of the prior bar was above or equal to the speed resistance line) then an alert will be generated. Indicator Parameters: Speed Line Color: The color to use for drawing speed resistance lines. All speed resistance lines that you create on the chart will be drawn using this color. Action Tag Color: The color to use for drawing the action tag (used to delete speed resistance lines) that is drawn just to the right of each speed resistance line. Thickness: The line thickness to use when drawing the speed resistance lines. Line Type: Line type to use when drawing the speed resistance lines. Select from Solid, Dot, Dash, DashDot and DashDotDot. Line Extension: How many bars into the future to extend the speed resistance lines. Default is 15 bars. Button FG Color: The foreground color to use when drawing the "S" button that appears at the bottom-left of your chart once the indicator is loaded. The "S" button is used to start the speed resistance line drawing process. Button BG Color: The background color to use when drawing the "S" button that appears at the bottom-left of your chart once the indicator is loaded. The "S" button is used to start the speed resistance line drawing process. Vert Offset: The vertical offset (in pixels) at which to display the "S" button. You will only need to adjust this option if you are using other indicators or scripts that draw buttons at the lower-left of your chart. This option allows you to move the speed resistance lines button out of the way of any other buttons. Horz Offset: The horizontal offset (in pixels) at which to display the "S" button. You will only need to adjust this option if you are using other indicators or scripts that draw buttons at the lower-left of your chart. This option allows you to move the speed resistance lines button out of the way of any other buttons. Alert on Close Only? True or False. Set this option to True if you want the indicator to check for price crossing a speed resistance line on bar close (i.e. price bar must close beyond the speed resistance line). Set this option to False if you want the indicator to check for a speed resistance line breach on every tick (i.e., as the realtime current bar updates, check to see if the high of the bar pushes up through a speed resistance line or if the low of the bar pushes down through a speed resistance line). Alert Use Sound?: True or False. Set this option to True to generate a sound alert when price breaks up through an upper speed resistance line or when price breaks down through a lower speed resistance line. Alert Use Popup?: True or False. Set this option to true to generate a popup alert when price breaks up through an upper speed resistance line or when price breaks down through a lower speed resistance line. Alert Use Email?: True or False. Set this option to True to generate an email alert when price breaks up through an upper speed resistance line or when price breaks down through a lower speed resistance line. Alert Up WAV File: Use this option to set the WAV file that will play when price pushes up through a speed resistance line. Default WAV file is DING.WAV. Alert Dn WAV File: Use this option to set the WAV file that will play when price pushes down through a speed resistance line. Default WAV file is WARNING.WAV. Dislaimer: For educational purposes only! Obviously, no guarantees whatsoever and use at your own risk. **********************************************************************/