SnR QM Level MT4 by RWBTradeLab
- Indicadores
-
Md Hasibul Kabir
Founder & Developer at RWBTradeLab.
I develop high-quality trading indicators, expert advisors (EAs),
and utility tools for MetaTrader 5.
My work focuses on precise calculations, non-repainting logic,
and clear visual market structure. - Versão: 1.10
SnR QM Level MT4 by RWBTradeLab
A clean, non-repainting Quasimodo (QM) level detector for MetaTrader 4, built for price action traders who want strict, structure-validated QM reversal levels — automatically detected, clearly marked and alerted exactly once, all from CLOSED candles only.
What This Indicator Does
The indicator detects strict Quasimodo reversal levels built from A/V candle structures:
Internal Structure Levels
- A Level: Green -> Red (Level = 1st Green candle Close) — resistance structure
- V Level: Red -> Green (Level = 1st Red candle Close) — support structure
Buy QM (strict 4-step chain)
1. A V Level forms (the low structure)
2. Earliest breakdown: a Red candle CLOSES below the V level (the lower low)
3. A recent A Level must exist between the V and that breakdown (the head high)
4. After the breakdown, a Green candle CLOSES above that A Level
=> Buy QM confirmed — the level is drawn at the V price
Sell QM (exact mirror)
1. An A Level forms
2. Earliest breakout: a Green candle CLOSES above the A level
3. A recent V Level must exist between the A and that breakout
4. After the breakout, a Red candle CLOSES below that V Level
=> Sell QM confirmed — the level is drawn at the A price
This strict chain filters random levels and keeps only structure-validated QM reversals.
Key Features
Professional Chart Display
- Every QM level is drawn as a horizontal ray extended to the right
- All labels are placed to the RIGHT of the last candle — your candles always stay clean
- Smart pixel-based label layout: nearby labels are staggered automatically, they NEVER overlap
- Labels re-arrange instantly when you zoom, scroll or resize the chart
- Color-coded: Buy QM in green (label under the level), Sell QM in red (label above) — or switch to classic single-color mode
- Duplicate protection: only the most recent QM is kept at each price (per direction)
Non-Repainting Engine
- All levels are calculated on CLOSED candles only — no running-candle logic
- Levels are recalculated once per new bar, not on every tick (zero terminal lag)
- Automatic object cleanup — remove the indicator and the chart is spotless
Smart Alerts (off by default)
- Each QM fires its alert EXACTLY ONCE — at the moment it is first completed
- No repeated alerts while the level stays on the chart
- No alert storm when you attach the indicator: existing historical QMs are registered silently
- Separate On/Off switches for Buy QM and Sell QM alerts
- 3 delivery channels: Popup, Push Notification, Email
- Every alert message includes direction, price, symbol, timeframe and time
Summary Table
A two column panel in the chart corner - the level name and how many of them are currently held:
Level Count
Buy QM 3
Sell QM 6
Every cell is drawn as its own filled box with a thin grid line, so the panel reads exactly the
same on a white chart and on a black one. It never borrows the chart background.
It counts a type even when that type is switched off, so the panel always reports what the market
actually printed rather than what happens to be on screen. Position, font size and all three
colours are adjustable, and the panel can be switched off completely.
Inputs
Scan
- Scan Length (closed candles) - how many recent closed candles are scanned (default 50, min 10)
Level Types
- Buy QM, Sell QM
Style
- Color Lines by QM Type, plus Buy / Sell / single-mode colours and line width
Labels
- Show Text Labels, label font, font size and text offset in ticks
Summary Table
- Show Summary Table, position (any of the four chart corners), font size, text colour, header
background, cell background and grid colour
Alerts
- Master switch, Popup / Push / Email channels, and separate Buy QM / Sell QM switches
How to Use
Attach the indicator to any symbol and any timeframe — forex, gold, indices, crypto. Confirmed QM levels appear instantly with clean labels on the right side. A Buy QM marks a level where the market swept the low and reclaimed the structure high — watch it as a potential support/reversal zone. A Sell QM is the mirror resistance zone. For best results combine with higher-timeframe structure and your own trade plan.
MT4 Build
This is the MetaTrader 4 build. The detection engine is the same code as the MetaTrader 5 version,
so both platforms mark the same candles on the same chart. Only what MQL4 spells differently was
changed, and none of it touches a rule:
- MetaTrader 4 has no input groups, so the settings appear as one list with comment headers instead
of collapsible sections. The order and the names are unchanged
- The bar count, the tick size and the timeframe name are read through the MQL4 functions
- Where MetaTrader 5 removes an array element directly, this build shifts the list down a
slot, which does the same job and keeps the order intact
Everything else - the detection rules, the drawing, the summary panel, the alerts and the
non-repainting behaviour - is identical to the MetaTrader 5 version.
Important Notes
- Because the labels sit to the right of the last candle, the indicator switches the chart's "Shift end of the chart" option on so that space exists. This is a chart setting, so it stays on after the indicator is removed - turn it off in the chart toolbar if you prefer the old view
- Push notifications require your MetaQuotes ID in MT4 (Tools -> Options -> Notifications); email alerts require SMTP settings
- Alerts work while the terminal is running
- This indicator is a level-detection tool, not financial advice. Trading involves risk — always use proper risk management
Creator: RWBTradeLab
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