LevelsMarker script builds support-resistance levels at chart, where price was the most of the time.
Following a period, when price is moving in flat zone, the movement phase begins inevitably, and ends at the next price level. LevelsMarker identifies the most important price levels used by traders to trade.
The script sets the color of the level depending on the strength level is gradually changing from color to color the weak levels of strong levels.Input parameters:
- count bars - a parameter which determines the depth of the history of price analysis;
- timeframe - the calculation can be performed on the time frame other than the timeframe of the chart (higher or lower);
- factor levels detailing - the parameter which determines the number of levels in the selected price range, the more the value, the less will be located levels;
- color for the minimum force levels - the color of the weakest in strength levels on the chart depending on the strength level, the color gradually changes to the color of the strongest levels;
- color maximal strength levels - the color of the strongest levels;
- thickness of the line level - allows you to change the line thickness;