This analyzer can be very useful for those who trade price action, since automatically detects and draws important levels of support and resistance, identifies the direction of market movement and can draw channel this movement, draws Fibonacci retracement of the current or previous market movement, displays important economic news for the current symbol, with the time since the last and the time until the next, besides the times of the main market sessions.
Demo: The demo version can be downloaded at https://www.mql5.com/en/market/product/16503. It is limited to draw a small amount of levels, not draw channel in the market direction and nor the Fibonacci retracement, not display the economic news and nor the times of the market sessions.
- It works with all symbols and timeframes;
- Detects and draws important levels of support and resistance of the specified timeframes;
- Identifies and displays in the chart the direction of the market movement of all timeframes;
- It can draw a channel identifying the direction of market movement of the specified timeframes;
- It can draw Fibonacci retracement of the specified timeframes, from beginning of the current market movement or of the previous market movement;
- It can download and display the important economic news for the current symbol from the site Forex Factory (calendar weekly news), with the time that has passed since the last and the time remaining until the next;
- It can display the times of the main market sessions.
- Identifies the candles with significant volumes to the trader, according to the reference factor specified;
- To facilitate its identification on the chart, the levels can be represented by different colors for each timeframe, besides showing in its description the date and time of occurrence.
To download the data of weekly news from the site Forex Factory, add the address of the required server in the list of allowed URLs: Main Menu -> Tools -> Options, tab Expert Advisors, add http://www.forexfactory.com.
- Levels In: select the timeframes to draw support and resistance levels;
- Market Direction Channel: select whether to draw a channel identifying the direction of market movement, when possible;
- Fibonacci Retracement In: select the timeframes if you want to draw the Fibonacci retracement;
- Fibonacci Retracement From: select whether to draw the Fibonacci retracement from the beginning of the current market movement or of the previous market movement;
- Show Economic News: select whether to display the important economic news for the current symbol;
- Show Sessions: select whether to display the times of the main market sessions;
- DST Sessions (Sydney - Tokyo - London - New York): select whether daylight saving time is in effect for each session;
- Levels Period: inform the period, between 3 and 120, for identifying the support and resistance levels;
- Market Direction Period: inform the period, between 3 and 120, for identifying the direction of the market movement;
- Spacer Levels Factor: inform the reference factor for calculating the spacing between the support and resistance levels;
- Volume Factor: inform the reference factor for identify candles with significant volumes (an asterisk is included just below the candle) - informing zero means that will not be set;
- Color Levels (timeframes): set colors to represent the support and resistance levels for each timeframe, facilitating its identify on the chart.