Based on program 78, Program 78 SEND DATA VERSION (Program 78 SDV) estimates horizontal support and resistance lines based on the chart’s volume profile. The theory underlying Program 78 SDV is that if significant volume has occurred at a specific price level then that level might have some significance as an area of support and/or resistance.
Program 78 SDV uses a Global Dictionary to provide the chart price levels (and color and style preferences) to another chart (or charts).
In Program 78 SDV, the original Program 78 was modified to use the HorizontalLine class rather than TrendLines and Drawing objects classes. This has the added advantage of the program being simplified and easier to understand. The other functionality is almost identical to program 78.
Program 78 SDV is packaged with Program78-READ_DATA_VERSION (Program78 RDV). This companion program reads the levels information from the Global Dictionary and draws the lines on a chart.
A more detailed explanation of how the program works, a video, technical constructs used and a download that includes the 'sending' and 'reading' programs can be found at the program page: https://markplex.com/easylanguage-programs/program-78-price-volume-peaks/program-78-send-data-version-price-volume-peaks/
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