Murrey Math MQ
- Göstergeler
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Muhammad Iqbal
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This indicator automatically calculates and displays the 9 Murrey Math price levels (0/8 through 8/8) on your chart, using the classic Murrey Math algorithm (the same levels as the well-known Murrey_Math_Line_X). Levels are derived from the highest and lowest prices over a configurable lookback period and can be calculated from any timeframe, so you can trade on M15/H1 while keeping the key D1 levels on your chart.
Key Features:
- 9 Murrey Math Levels — From Ultimate Support (0/8) to Ultimate Resistance (8/8), each labeled with its traditional description (Pivot/Reverse, Weak/Stall/Reverse, Major S/R, Trading Range boundaries, etc.).
- Multi-Timeframe Levels — Calculate the levels from any timeframe (default: D1) independently of the chart timeframe. Select "Current" to follow the chart timeframe.
- Classic Murrey Math Calculation — Fractal, octave and frame selection follow the original algorithm instead of a simplified approximation.
- Price-Cross Alerts — Get notified when price crosses any selected level, up or down. Supports both popup alerts and push notifications. No alerts are triggered when the indicator is first loaded, and a level shift is never counted as a cross.
- Fully Customizable — Configure timeframe, lookback period, line length, colors for each level, line width/style, font settings, and toggle labels/descriptions on or off.
- Lightweight — Uses zero indicator buffers and no timer. Levels are recalculated only when a new bar of the selected timeframe appears or when price makes a new high/low inside the lookback; objects are redrawn only when something changes.
Inputs:
- MMTimeframe — Timeframe used to calculate the levels (default: D1, Current = chart timeframe).
- LookbackBars — Number of bars of that timeframe used to find the high-low range (default: 64).
- LineLength — How far back the lines extend on the chart, in chart candles (default: 500, 0 = unlimited).
- Individual color settings for each of the 9 levels.
- LineWidth, LineStyle (default: dotted), FontSize, FontName — Visual customization.
- ShowLabels / ShowDescription — Toggle price labels and level descriptions.
- EnableAlert / EnablePush — Master switches for popup and push alerts.
- Alert_0_8 through Alert_8_8 — Enable or disable alerts per level.
How It Works:
The indicator finds the highest high and lowest low within the lookback window of the selected timeframe, then applies the classic Murrey Math method: it picks the fractal from the price scale, computes the octave and the 0/8–8/8 frame, and divides it into 8 equal segments. Lines and labels are updated only when the levels or the chart bar change. Alert logic compares the previous and current price against each enabled level and triggers on every crossing.
Note: Murrey Math levels are reference areas for support and resistance, not trading signals on their own. Use them together with your own analysis and risk management.
