Key Price Action Levels Indicator MT4
- Indicators
- Eda Kaya
- Version: 1.3
Key Price Action Levels Indicator for MT4
The Key Price Action Levels Indicator for MetaTrader 4 marks important zones on the chart where price has historically reacted. These zones often act as support or resistance, or represent supply and demand areas. The indicator uses a color-coded system to visually display rounded price levels directly on the chart.
«Indicator Installation & User Guide»
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Key PA Levels Indicator Specifications Table
The following table outlines the specifications of the Key Price Action Levels Indicator:
| Category | Levels – Price Action – Support and Resistance |
| Platform | MetaTrader 4 |
| Skill Level | Intermediate |
| Indicator Type | Range – Breakout |
| Timeframe | Multi Timeframe |
| Trading Style | Day Trading |
| Market | All Markets |
Indicator Overview
This indicator automatically identifies and marks key levels based on past price activity. These include rounded price levels, Fibonacci retracement zones, daily and weekly pivots, and support/resistance lines. While it doesn’t generate direct trade signals, it offers valuable reference points that traders can use for decision-making.
Uptrend Conditions
On the 5-minute USD/CAD chart, price interactions with marked levels may lead to significant market reactions. These include breakouts above rounded levels, trend continuations, or potential reversals, depending on the market's behavior around these key areas.
Downtrend Conditions
On a 30-minute GBP/USD chart, reaching a key level may result in a price reversal. Alternatively, a decisive break below these levels can signal strong bearish momentum and the continuation of a downtrend.
Indicator Settings
The Key Price Action Levels Indicator includes several customizable parameters:
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Chart theme: Select the visual theme of the chart
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Show 00–50 levels: Toggle visibility of 00 and 50 levels
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Show 20–80 levels: Toggle visibility of 20 and 80 levels
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Level 00 color: Set the color for 00 levels
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Level 50 color: Set the color for 50 levels
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Level 20 color: Set the color for 20 levels
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Level 80 color: Set the color for 80 levels
Conclusion
The Key Price Action Levels Indicator is a reliable tool for analyzing historical price behavior across various timeframes and instruments. Although it does not produce trading signals, it highlights crucial zones that traders can incorporate into their strategy for more informed decision-making.
