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Levels for MT4 by OptionClue

The Levels indicator has been created to simplify the process of plotting support and resistance levels and zones on selected timeframes. The indicator plots the nearest levels of the selected timeframes, which are highlighted in different colors. It significantly reduces the time needed to plot them on the chart and simplifies the market analysis process.

Horizontal support and resistance levels are used to identify price zones where the market movement can slow down or a price reversal is likely to occur. The Levels indicator helps identify the optimal entry and exit signals that appear during a deep market correction, or calculate stop loss and take profit.

The Levels indicator plots support and resistance levels based on price patterns which occur in local price reversal points on the chart. They are universal and can be used without fitting to historical data. Currently, the Levels indicator includes 28 price patterns that complement each other.

The colors of the price zone and horizontal lines depends on the timeframe and can be changed in settings of the indicator. The indicator plots support and resistance levels on the selected and lower timeframes. It keeps charts as clear as possible and lets one see the most important price levels without switching between timeframes.


Advantages of the indicator

  • Versatility — horizontal support and resistance levels are universal and can be used without fitting to historical data
  • Simplicity — most of the indicator settings are related to color
  • Absoluteness — unlike many technical indicators (Moving Average, RSI, Stochastic and others) Levels is based on the pure price action, and not on its derivatives.
  • Traders are forced to replot support and resistance levels all the time. And the lower the timeframe the more often you should actualize the nearest price levels. This task is greatly simplified with the help of the indicator.


How support and resistance levels are created

Horizontal support and resistance levels have been used in trading since the beginning of the 20th century. They work because traders think that they have to. The Levels indicator plots support and resistance levels based on price patterns which occur in local price reversal points on the chart. They are universal and can be used without fitting to historical data.


Display on the chart

The colors of the price zone and horizontal lines depends on the timeframe and can be changed in settings of the indicator. The indicator plots support and resistance levels on the selected and lower timeframes. It keeps charts as clear as possible and lets one see the most important price levels without switching between timeframes. An interception of levels on different timeframes is often an important price zone and it is displayed on the chart as a combination of colors.


The most suitable parameters for each timeframe can be selected in the indicator settings

  • Plot levels on this timeframe (yes = true, no = false). The indicator plots horizontal levels on different timeframes, Daily by default. In order to see, for example, hourly (H1) levels, set the "Plot levels on H1 timeframe" parameter from false to true.
  • A number of levels pairs (1 levels pair means support and resistance). By default, this parameter equals 1, so there is only one support and one resistance on every selected timeframe. In most cases, such number of levels is sufficient to determine the major price targets.
  • The color of support or resistance zone
  • The color of support or resistance price level

The lower part of the window contains general settings, that are applied to every timeframe:

  • Plotting depth is equal to 200 bars by default. It means that support and resistance levels are built using the last 200 bars. The higher the plotting depth the more distant levels are plotted and the higher the system load. If you are interested in 1-2 nearest levels, you might consider decreasing this parameter to 30-40.
  • Plot overlapping price zones (yes = true, no = false). This parameter lets one choose whether overlapping price zones of a similar timeframe are plotted or not. It makes the price chart clearer and more vivid. This parameter is disabled by default, but if one wants to see all possible levels and their overlaps, one might consider turning it on.


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Allows multiple indicators to be combined into a single indicator, both visually and in terms of an alert. Indicators can include standard indicators, e.g. RSI, CCI, etc., and also Custom Indicators, even those purchased through Market, or where just have the ex4 file. An early alert is provided, say when 4 out 5 indicators have lined up, and a confirmed alert when all are in agreement. A‌lso features a statistics panel reporting the success of the combined indicator by examining the current cha
ON Trade Waves Patterns Harmonic Elliot Wolfe
Abdullah Alrai
5 (1)
Indikatoren
Wir stellen Ihnen ON Trade Waves Patterns Harmonic Elliot Wolfe vor, einen fortschrittlichen Indikator, der entwickelt wurde, um verschiedene Markt-Muster mithilfe sowohl manueller als auch automatischer Methoden zu erkennen. Hier ist, wie er funktioniert: Harmonische Muster: Dieser Indikator kann harmonische Muster erkennen, die auf Ihrem Chart erscheinen. Diese Muster sind für Trader, die die Theorie des harmonischen Handels praktizieren, wie sie in Scott Carney's Buch "Harmonic Trading vol 1
Forex Sniper Entries Indicator
Elias Mtwenge
Indikatoren
WARNING: PRICE IS SUBJECT TO RISE AT ANY TIME. GET YOUR COPY TODAY TO AVOID MORE COST! Dear Traders I am so glad to introduce to you my other tool called the Forex Sniper Entries Indicator. This tool is designed to help serious traders and investors capture big moves in the currency price movements. The philosophy behind this tool is all about winning big and riding the price movement from its beginning until the maximum point. We want to capture those big moves in both down and up markets as mu
Graf Mason
Alexandr Lapin
5 (1)
Indikatoren
Graf Mason is a tool that will make you a professional analyst! The method of determining wave movements using inclined channels qualitatively conveys the schematics of the movement of any instrument, showing not only possible reversals in the market, but also the goals of further movements!Destroys the myth that the market is alive , clearly showing the schematics of movements from one range to another! A professional tool, suitable for the medium term with the definition of the current trend!
TakePropips Donchian Trend Pro
Eric John Pajarillaga Aldana
4.82 (17)
Indikatoren
TakePropips Donchian Trend Pro   (MT4) ist ein leistungsstarkes und effektives Tool, das mithilfe des Donchian-Kanals automatisch die Richtung des Trends erkennt und Ihnen Handelssignale für den Ein- und Ausstieg liefert! Dieser Multifunktionsindikator umfasst einen Trendscanner, Handelssignale, ein statistisches Panel, einen Screener, Handelssitzungen und ein Dashboard für den Verlauf von Warnungen. Es wurde entwickelt, um Ihnen Handelssignale zu liefern und Ihnen Stunden beim Analysieren der C
Pair Trading Station MT4
Young Ho Seo
5 (1)
Indikatoren
How to use Pair Trading Station Pair Trading Station is recommended for H1 time frame and you can use it for any currency pairs. To generate buy and sell signal, follow few steps below to apply Pair Trading Station to your MetaTrader terminal. When you load Pair Trading Station on your chart, Pair Trading station will assess available historical data in your MetaTrader platforms for each currency pair. On your chart, the amount of historical data available will be displayed for each currency pai
MetaTrend M4
Vahidreza Heidar Gholami
5 (1)
Indikatoren
Meta Trend Indicator is an efficient way to forecast and detect the trend in any market. It reveals the trend, support and resistance levels, volatility and the maximum potential target, all in one indicator. To adapt to the price and to decrease consecutive trend failures, the internal trend detector algorithm studies the market and dynamically chooses the right values for the internal parameters. This indicator is a perfect trend filter for any strategy or expert advisor. Features Super Adapti
Cycles Predictor
Martin Eshleman
Indikatoren
Cycles Predictor Indicator This indicator uses past market cycles to predict future price movements. The predictions are drawn as vertical lines on the right side of the chart where the market has not advanced to yet. A prediction will many times result in the type of candle (ex. bull or bear) and/or a reversal point (ex. bottom or top) forming at this exact time. The lines are drawn well in advance which makes this a unique indicator. Benefits The indicator does not repaint, move, or delete
CyberZingFx Volume Plus
Afsal Meerankutty
4.94 (16)
Indikatoren
Advanced version of CyberZingFx Volume Plus, the ultimate MT4 indicator for traders seeking highly accurate buy and sell signals. With an additional strategy and price action dot signals that enhances its effectiveness, this indicator offers a superior trading experience for professionals and beginners alike. The CyberZingFx Volume Plus Advanced version combines the power of volume analysis and historical price data with an additional strategy, resulting in even more precise and reliable signals
Price Action Entry Alerts
Stephen Sanjeeve Sahayam
5 (3)
Indikatoren
Dieser Indikator überprüft jeden Balken auf Kauf- oder Verkaufsdruck und identifiziert 4 Arten von Kerzenmustern mit dem höchsten Volumen. Diese Kerzen werden dann mithilfe mehrerer linearer Filter gefiltert, um Kauf- oder Verkaufssignale anzuzeigen. Signale funktionieren am besten in Verbindung mit einer höheren Zeitrahmenrichtung und wenn sie während der Stunden mit hohem Handelsvolumen gehandelt werden. Alle Filter sind anpassbar und funktionieren unabhängig voneinander. Kann Signale einer e
Up down v6T
Guner Koca
5 (1)
Indikatoren
Thise indicator is up down v6  comes with tradingwiev pinescript. purchased people, after installed on terminal ,contact me on mql5  to get BONUS  TradingView pinescript. up-down indicator is no repaint and works all pairs and lower than weekly time frames charts. it is suitable also 1 m charts for all pairs. and hold long way to signal. dont gives too many signals. when red histogram cross trigger line that is up signal.and price probably will down when blue histogram cross trigger line that
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Indikatoren
The Levels indicator has been created to simplify the process of plotting support and resistance levels and zones on selected timeframes. The indicator plots the nearest levels of the selected timeframes, which are highlighted in different colors. It significantly reduces the time needed to plot them on the chart and simplifies the market analysis process. Horizontal support and resistance levels are used to identify price zones where the market movement can slow down or a price reversal is like
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