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Levels on Chart MT4

The indicator draws lines that can serve as support/resistance levels. The main and additional levels are displayed as lines, with the color and style defined by the user. Additional levels are only displayed for currency pairs without JPY.

Please see the AUDUSD chart below. Yellow ovals indicate some characteristic points where price reaches one of the levels.

Simply watch the indicator work on history and in real time mode.

External parameters:

  • Levels Step Size, points - step between adjacent levels in points - it is usually set as multiple of 500 (or 400 for currency pairs with JPY).
  • Up & Down Levels Number - number of price levels displayed above and below the current price. If set to 4, the indicator displays the level closest to the price (4 below and 4 above).
  • Levels Line Color - color of the main levels.
  • Levels Line Style - style of the main levels.
  • Adding Levels Line Color - color of the additional levels.
  • Adding Levels Line Style - style of the additional levels.
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