Hi. I found this new indicator called "Level Trading" in one of the russian forums.
I searched here but could not locate any discussion thread. If it has being discussed earlier, could you please provide the link.
It is very promising and it is based on the price channel orientation.
As I do not know russian. I tried to translate the documents, but still not getting it 100 percent. Could you please go through this. Thanks.
The original russian thread on Level Trading.
TraderNeo and Acel are the developers.
There are two indicators Level trading and Level trading 123, has being modified slightly on price channel, but both works the same.
The Russian document and the translated version in english but very hard to grasp anything.
SHI channel also does well, if combined with your template
It is 26 pages ...
Looks like thesis for a Master's degree ...
I will try.
Most of the pages are just drawings and illustrations, only first few pages have explanations. as far as i could make out with translation...its blue line for buy and red for sell.....and the resistance and support or buy or sell also depends upon the thickness of the price channel line and the number of lines above or below the current price.
In the forum....there is only explantion from traderneo..rest all is simply questions and debates..so you can filter that out.
Hope it helps
I am starting translation.
It will take a time because this paper is very big one. But the language is ok (not slanguage).
I will translate and will post all the paper.
But it is some few words in the beginning:
Trading instruments: EUR/USD (working on all the USD pairs – proven).
Period: Monthly, Weekly, Daily, 4 Hour, 1 Hour, 15 min.
Lot size: Depends on the power of H1 level,
and depends on the coincidence direction of the price movement
for more higher timeframes and respective levels.
LevelTrading is intra-day trading system with no any indicators
used for trading.
Trading is based on price levels (Level) which are formed
according to checkpoints of price chart.
The levels are drawing for the following timeframes:
1W, 1D, 4H, 1H. It should be used H1 timeframe for trading in intra-day.
I just found out this is based on the ICWR indicator.
Guys..i can't see the pictures in the word document..could some one help me please..thanks
try this one