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 briefly read Jacob's contribution. I think it may have some issues with the code below: # Now the min if min1 - window < 0: min2 = min(x[(min1 + window):]) else: min2 = min(x[0:(min1 - window)])

# Now find the indices of the secondary extrema
max2 = np.where(x == max2)[0][0]  # find the index of the 2nd max
min2 = np.where(x == min2)[0][0]  # find the index of the 2nd min

the algorithm does try to find secondary min value outside given window, but then the position corresponding to np.where(x == min2)[0][0] may lie inside the the window due to possibly duplicate values inside the window.