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FX Levels Indicator
FX Levels indicator is a very useful and powerful indicator to trade Forex and Binary Options. The purpose of the indicator is to draw levels that are turning points in the market.
These lines show support and resistance levels and should be used as guideline to figure out possible turning points and targets. The indicator draws these levels analyzing the H1, H4, D1 and W1 timeframes.
Levels can be customized (color, style, line width).
- Prefix - prefix used by broker (for instance if symbol is called xGBPUSD then Prefix is x).
- Suffix - suffix used by broker (for instance if symbol is called GBPUSDfx then Suffix is fx).
- Show W1 - show levels identified in the W1 time frame.
- Show D1 - show levels identified in the D1 time frame.
- Show H4 - show levels identified in the H4 time frame.
- Show H1 - show levels identified in the H1 time frame.
- LineColor_ - define color of level to be drawn for the given time frame (W1, D1, H4, H1).
- LineStyle_ - define style of level to be drawn for the given time frame (W1, D1, H4, H1).
- LineWidth_ - define width of level to be drawn for the given time frame (W1, D1, H4, H1).
Indicator only works with following pairs for now:
We might release version for more pairs or classes of assets (stocks, commodities) in the future depending on the demand for these enhancements. You can draw the levels in any time frame. For instance you can draw W1 levels in a M5 chart.
The indicator can be used to trade Spot Forex and also Binary Options, Options, and Futures.