RelicusRoad Action Levels MT5
- Indicators
- Version: 2.297
- Activations: 10
RelicusRoad Action Levels is a support and resistance levels indicator for MetaTrader 4 and MetaTrader 5 that fits a grid of major and minor price levels to the symbol's own volatility and past reactions, and labels each level with its touch count.
The grid is not a fixed pip spacing and not a plain round-number grid. Its spacing and offset are chosen from completed bars, each level is scored on how price behaved around it, and only the strongest levels near the current price are drawn.
How it works
In the default Formula mode the indicator reads up to 1,200 completed bars of the selected timeframe and collects reactions: swing highs and lows, and bars with long upper or lower wicks. It then tries a range of spacings, based on typical bar range, on the distance between reactions and on a mix of the two, each with several offsets. The grid whose lines fit the reactions and past holds most closely is kept.
- Touches: a touch counts again only after price has moved clearly away from the level.
- Holds: price touched the level and then moved further in the favorable direction than against it.
- Breaks and retests: price closed through the level and returned to it within 16 bars.
- Recency and stability: recent behavior weighs more, and behavior is compared across three parts of the window.
Every level on the chosen grid is scored on these points, and up to five levels above and five below the last close are kept, with up to two extra levels on each side when their score is high enough. That makes 14 levels at most. Minor levels sit halfway between majors and are shown only when enough of them hold up; otherwise the chart shows majors alone.
What it draws
- Major levels: horizontal lines, blue and dash-dot-dot by default.
- Minor levels: horizontal lines, salmon and dotted by default, when the evidence supports them.
- Touch labels: a small label such as 3t near the right edge of the chart, in the color of its line.
- Tooltips: for example Major Formula Action Level | 3t | quality=0.62, with quality on a 0 to 1 scale.
- Background drawing: lines sit behind price and cannot be selected.
- No buffers: there are no Data Window values, so an Expert Advisor cannot read the levels.
Reading the chart
Blue lines are the main grid and salmon lines the halfway levels. The label beside each line counts the separate times price has come to it within the calculation window, and the tooltip adds a quality score.
The grid is checked again on each new bar. A new grid replaces the current one only when it fits clearly better, and very small shifts are taken as they come, so the lines stay steady most of the time but can move, appear or disappear as bars complete.
Labels are placed when the levels are drawn. If you scroll or zoom, they are repositioned on the next new bar.
Inputs
Formula mode (default):
- Formula / Automatic: on by default; off switches to the older Legacy grid.
- Timeframe: the timeframe whose bars feed the calculation; Current uses the chart timeframe.
- Show Major Level and Show Minor Level: each set of lines toggles on its own.
- Major Line Style and Minor Line Style: dash-dot-dot and dotted by default.
- Major Line Color and Minor Line Color: blue and salmon by default, also used for the labels.
Legacy mode only (Formula / Automatic off):
- Multiplier: widens or narrows the base gap taken from a per-symbol table.
- Max Lines: how many level records are calculated, 100 by default.
- Use Adaptive Levels: rescales the gap by recent movement and keeps 4 to 10 levels in the visible price range, so spacing depends on chart zoom.
- Use Dynamic Rounding: rounds each level price to a precision suited to the asset class.
Recommended use
Works on forex, gold (XAUUSD), indices, stocks and crypto. Formula mode does not depend on the symbol name, so any instrument with at least 97 bars of history on the selected timeframe can be used. The defaults are ready to use.
Common questions
Are these round-number levels? Not necessarily. In Formula mode the offset of the grid is fitted to where price reacted, so levels can fall between round numbers.
Why are there no minor levels on my chart? In Formula mode minor levels are published only when enough of them have touches and a reasonable quality. When the evidence is weak, only major levels are drawn.
Does the grid cover the whole chart? No. It shows at most 14 levels, grouped around the last close, rather than lines across the full price history.
Does it show whether a level is support or resistance? No. Each line shows its touch count and quality. Which side of price it is on is for you to read.
About and support
The scored level grid is the Action Levels engine from RelicusRoad Pro, published alone for traders who want a data-fitted grid of price levels without the rest of the system. It runs standalone.
Questions and support are handled in the product comments and through the mql5.com messaging system.
