Support Resistance Algorithm - Technical analysis

Question

I have an intra-day chart and I am trying to figure out how to calculate support and resistance levels, anyone knows an algorithm for doing that, or a good starting point?

Answer 1

I put together a package that implements support and resistance trendlines like what you're asking about. Here are a few examples of some examples:

import numpy as np
import pandas.io.data as pd
from matplotlib.pyplot import *
gentrends('fb', window = 1.0/3.0)

Output

That example just pulls the adjusted close prices, but if you have intraday data already loaded in you can also feed it raw data as a numpy array and it will implement the same algorithm on that data as it would if you just fed it a ticker symbol.

Not sure if this is exactly what you were looking for but hopefully this helps get you started. The code and some more explanation can be found on the GitHub page where I have it hosted: https://github.com/dysonance/Trendy