Trading Levels Indicator
- Indicators
- Vitalyi Belyh
- Version: 1.0
- Activations: 10
Trading Levels Indicator is a trading system designed to determine entry points, hold positions and trend direction.
Includes several mechanisms working in one complex, wave analysis of trend direction, level analysis when constructing signals, shows possible TP and SL targets.
Indicator capabilities
How the indicator works
Includes several mechanisms working in one complex, wave analysis of trend direction, level analysis when constructing signals, shows possible TP and SL targets.
Indicator capabilities
- Signal arrows appear on the current candle, do not repaint.
- Uses special algorithms to search for levels from which the price bounces.
- Works according to the trend.
- The system is universal, can be applied to various trading instruments.
- There are several types of alerts for signal arrows.
- Input parameters of signal arrows are configured and work in automatic mode.
- The "Trend Wave Period" parameter can be changed based on the time frame
- The "Target Level SL TP" parameter is defined for the main currency pairs, for use on other trading instruments it is possible to increase by 10 or more.
How the indicator works
- To determine the trend, the indicator has a wave line, if it is above the price - the trend is bearish, if it is below the price - the trend is bullish.
- Red signal arrows - for making purchases, yellow signal arrows - for making sales.
- Dotted horizontal lines - levels by which signals are built, while the line is being built - the signal is valid.
- Target levels SL and TP are present for the convenience of technical analysis and selection of trend parameters.
