MurreyMath is an indicator of Murray levels.
This indicator automatically calculates and displays 13 most significant levels on a symbol chart as well as paints them in different colors.
This graphic illustrates the following:
- 8/8: Hardest line to rise above (overbought)
- 7/8: Fast reverse line (weak)
- 6/8: Pivot reverse line
- 5/8: Upper trading range
- 4/8: Major reversal line
- 3/8: Lower trading range
- 2/8: Pivot reverse line
- 1/8: Fast reverse line (weak)
- 0/8: Hardest line to fall below (oversold)
Price is between 3/8 and 5/8 MMLs about 43% of the time.