Free and limited version ( only 5 and 15 min time frames) of the popular X-Lines indicator.
Attention: to remove graphical objects of the indicator and remove indicator from the chart window, simply set the Period of analysis = 1 and remove x-lines from the chart window.
It will allow you getting information about support and resistance levels on any period of any financial instrument ( only in paid version). You will be able to separate weak technical levels from the strong ones. Positional strength of price labels is determined using author's algorithm.
Attention: levels displayed by indicator show interesting market prices. Technically they are support and resistance levels and increased demand or supply prices).
Since weakness and strength are relative, user can adjust percentage ratio for each rate. Using X-Lines together with volume analysis and correct interpretation of financial news you will get a very powerful tool for technical analysis!
It is very easy to set up X-Lines. You can change three parameters:
- Period of analysis – used for setting up number of bars in current period that are considered during analysis. For example 800 means that it will analyze last 800 bars including the current one. 0 value is for analyzing entire existing history ( default value is 4000).
- Positional Power – its name speaks for itself. The value of this parameter can vary from 1 to 100 (multiple of 1). Using this parameter user indicates positional strength of technical levels. Less is that value - more stronger are levels shown by the analyzer.
You can also set color for price levels that are interesting to you:
Note that every financial instrument requires individual set up of X-Lines parameters! Experiment and you'll see how flexible and powerful are analytical opportunities provided by this indicator!
- Level Color – DarkGoldenrod
- Period of analysis – 4000
- Positional Power – 6
The indicator automatically draws Fibo Bobokus levels on a chart. Detection of Weekly Targets, Support and Resistance By the end of a week, on Friday night, Fibo Bobokus is drawn from the week's high to its low. It will be a projection of bullish and bearish targets for the next week, as well as support and resistance areas to monitor. Whenever the targets are not achieved in a given week, they are usually achieved at the beginning of next week (Sunday-Tuesday), followed by a massive reversal.
Multi Time Frame Indicator acts as a Scanner based on the Ichimoku Trading System. The outcome is displayed on a board. This helps you to make "at a glance" a mental picture of the System without having to open the chart. Up to 10 Currencies can be watched. Scanned elements And Legend "KUMO Futur" - Green : The Kumo Futur is Bullish. "KUMO Futur" - Red : The Kumo Futur is Bearish. "PRICE Cross KJ" - Green : The Price is Above the Kijun Sen. "PRICE Cross KJ" - Red : The Price is Below the Kijun
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2) Positional power settings are round numbers from 1 to 100.