LEVEL Structure Analyzer

Price Range and Closing-Price Distribution Indicator for MetaTrader 4

LEVEL Structure Analyzer is a technical analysis indicator designed to help traders understand market structure through 10 customizable price levels and an integrated information dashboard.

It combines two complementary methods of price analysis: a broader structure based on highs and lows (RANGE) and a recent structure based on closing prices (CLOSE).

These structures allow traders to observe price positioning and changes in the distribution of closing prices within the broader market range.

The 10 Price Levels

RANGE — 5 Solid Lines

• R MAX: Locked maximum of the range.

• R MIN: Locked minimum of the range.

• R MID: Midpoint of the locked range.

• R HIGH: Average of highs in the upper area of the range.

• R LOW: Average of lows in the lower area of the range.

The main range remains locked until a completed candle closes beyond its maximum or minimum, triggering an update.

CLOSE — 5 Dotted Lines

• C MAX: Highest closing price within the selected period.

• C MIN: Lowest closing price within the selected period.

• C AVG: Average of all closing prices.

• C HIGH: Average of closing prices in the upper half of the closing-price range.

• C LOW: Average of closing prices in the lower half of the closing-price range.

CLOSE levels are recalculated using a rolling historical window.

The different line styles make RANGE and CLOSE levels easy to distinguish.

Integrated Dashboard

The customizable dashboard provides six market measurements:

BIAS: LONG, SHORT or WAIT. A contextual classification based on closing-price position and FLOW.

FLOW: ACCEPTED, REJECTED or NEUTRAL. Describes the behavior of recent closing prices relative to the upper and lower closing-price averages.

DISTANCE: Absolute distance between the latest completed close and the average close, expressed as a percentage of the locked half-range.

ROTATION: Change in the DISTANCE measurement compared with the previous calculation.

POSITION: Percentage position of the latest completed close within the locked range.

RANGE STATE: NORMAL, EXPANDING or COMPRESSED, based on recent price-range conditions.

Dashboard values describe market conditions. They are not automatic trading signals.

Markets and Timeframes

LEVEL Structure Analyzer can be applied to Forex, cryptocurrencies, commodities and indices.

It works on the selected chart timeframe and uses the available historical price data.

The default settings were designed primarily for M1 (1-minute) charts:

Range Period: 1440

Close Period: 120

Both periods can be adjusted independently according to the trader's preferred market, timeframe and analytical approach.

Sufficient historical candles are required for the selected periods.

Customizable Settings

Users can modify:

• RANGE and CLOSE calculation periods.

• Visibility and individual colors of all 10 levels.

• RANGE line thickness and CLOSE line pattern.

• Optional level names displayed beside the lines.

• Dashboard visibility, position and size.

• Full or compact dashboard layout.

• Dashboard background, border and text colors.

How to Use

1. Attach LEVEL Structure Analyzer to a MetaTrader 4 chart.

2. Select the preferred timeframe and calculation periods.

3. Use the solid RANGE lines to observe the broader price structure.

4. Use the dotted CLOSE lines to analyze the distribution of recent closing prices.

5. Compare price position with both structures.

6. Consult the dashboard for additional market context.

For example, the locked RANGE may remain unchanged while the CLOSE levels gradually shift, allowing traders to observe internal changes within the existing price structure.

The indicator can support discretionary technical analysis and may be combined with the trader's existing trading approach.

Important Information

LEVEL Structure Analyzer is an analytical tool, not an automated trading system.

It does not open or close trades and does not generate automatic BUY/SELL alerts.

The indicator does not guarantee future market direction, trading performance or profitability.