Hey. I'm new here. Has anybody deeply analyzed SR lines/zones behaviour? I'm working on a study based on SR, and it is hard :) It is easy to draw a new SR line, but it is not easy to decide when to delete it from the chart - if you keep them forever the chart will be a mess, unreadable for human eye and even more for the algo.
I have created some rules for the deletion, but I feel I could learn more by discussing wit other folks who tried to challenge the same topic.
Example of a rule:
* An SR line is created with pivothigh(high,2,2) or pivotlow(low,2,2). Then it is broken and market continues in direction of the trend. The line is removed when market moves so far away, that getting back to the line would mean over .500 retracement.
Let me know if you want to exchange experiences!
Tom