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XLines MT4

This indicator provides a unique opportunity for its users!

It will allow you getting the information about the support and resistance levels on any period of any financial instrument. In addition, owing to the functions of dynamic adjustment you will be able to separate weak technical levels from the strong ones. Positional strength of price labels is determined using the author's algorithm.

Attention: the levels displayed by the indicator show the prices that are of interest to the market (technically, they are support and resistance levels and increased demand or supply prices).

Since weakness and strength are relative, a user can adjust the percentage ratio for each rate. When used together with volume analysis and corrected interpretation of financial news, the indicator becomes a very powerful tool for technical analysis!

Indicator Setup

It is very easy to set up X-Lines. You can change three parameters:

  • Period of analysis – used for setting up the number of bars of the 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 the entire existing history (the default value is 0).
  • Positional Power – its name speaks for itself. The value of this parameter can vary from 0.01 to 1 (multiple of 0.0001). Using this parameter, a user indicates the positional strength of technical levels. The less is the value, the stronger are the levels shown by the analyzer.

You can also set the color for the price levels that are of interest to you:

  • Level

Note that every financial instrument requires individual set up of the indicator parameters! Experiment and you'll see how flexible and powerful are the analytical opportunities provided by the indicator!

Default settings:

  • Level Color – Yellow.
  • Period of analysis – 0.
  • Positional Power – 0.114.
No reviews
Version 1.21 2017.06.22
1) Added possibility to draw support-resistance channels, a completely new type of levels.
2) Optimized initial settings of the indicator (selected using the statistical method).
3) Now, as in the version for MT5, the algorithm divides the levels based on the positional force.
Version 1.10 2015.11.11
1) Fixed bug when working with objects. Now, the indicator only edits its own data.
2) Fixed bug with time periods.
3) Added ability to highlight key levels.
4) Added automatic noise reduction.