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Level Pattern of Support and Resistance

This indicator allows to enter the market with optimal prices: from local Highs (resistance) and from local Lows (support).

The indicator finds flat level patterns searching the bar which has formed the level and bars which have confirmed the level. In other words, the indicator finds a price level consisting of several candles having highs and lows on one line. Such levels represent natural levels of support and resistance formed after a major participant has entered the market and placed a large buy or sell order. Particularly this order restrains the price keeping it up or down. And this is displayed as a line, thrust against by candles' highs or lows.

This indicator performs all these operations, so you do not have to waste your time inspecting charts and ferreting for levels and patterns. All you need to do is to wait for a signal (alert) about appearance of a level. The indicator will be useful for those who trade using the system by Alexander Gerchik. But advantages of the indicator are that it can find levels with any number of confirming candles (not only 3, but also 4, 5, 6 candles and more). It can also find hidden and less distinct levels where candles' highs and lows are located not on one line but have some dispersion equal to several points. Dispersion range of the level can be changed.

Adjustable Parameters:

  • TimeFrame - timeframe where the indicator will look for levels. (Default value is "0", which means that levels will be looked for on the current timeframe).
  • Search_Period - level search period. (Maximum length of the level).
  • Points_Of_Level_Dispersion - maximum width of the level in points. (Allowable difference between the bar which has formed the level and bars which have confirmed the level. Consider the number of decimal placed in quotes). The lower the diversion value, the rarer but more accurate signals.
  • Bars_On_The_Level - minimum number of bars to form the level.

Layout Settings:

  • UpLevelColor - color of resistance levels.
  • DownLevelColor - color of support levels.
  • PeaksWidth - width of contact points of the level and candles.
  • LineWidth - level line width.
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GOLDEN CHIP TUTORIAL LINK BELOW! https://youtu.be/R69zucG3EnY Golden Chip provides Basic Market Structure, Fibonacci, supply and Demand Zones. Letting you identify when a sell off point is approaching or when a buy opportunity is arriving. The awesome thing about Golden Chip is that, you will see rejection levels or continuation before ANYBODY ! This indicator moves directly with price and lines up perfectly with the Chart. Some indicators would lag but NOT this one ! Golden Chip is amazing f
225 USD
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The indicator places levels on the chart: day and week high, day and week low. When the price crosses the high's level upwards or the low's level downwards, the indicator beeps and send a notification (Alert and Push-notification on mobile phone ) indicating a direction and an instrument by which crossing has occurred, and also draws arrows. Visual parameters: Day_Width   - daily level width. Days_Alerts - enabling Alerts. Days_Arrows   - enabling drawing arrows. Day_High   - color of daily high
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This is an indicator of trading instruments' correlation. It shows the difference of price values of two symbols. The increase in price divergence and the reduction of price divergence can be seen as signals to transactions. The indicator can be used for hedge strategies. The indicator sends Alerts and Push-notifications to the mobile app about the crossing of the moving averages of Envelopes. The indicator has a simple setup. You need to put him in the window of the traded instrument and choose
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This is a full-fledged Price Action trading system based on the searching for entry points at the moment when the price breaks the trend lines. The indicator finds and draws the lines of support, resistance and horizontal levels. When the price crosses these lines, the indicator gives signal Alert and sends a Push notification. You can also draw your own lines, and the indicator will also work with them and give signal Alerts and Push notifications about price crossing all your lines. Your own
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rainwalker123 2019.08.16 11:02 

Bullshit Indicator

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