Leveler x2 is a graphic indicator for manual and automated trading. It displays the price levels that meet the criteria:
- the price had rebounded from the level
- the price had broken the current level
- the price had returned to the current level
The points where the price had touched the level are determined by fractals. Therefore, the indicator has a limitation - signal delayed by 2 bars (confirmation of fractal formation).
Also this indicator is multi-timeframe - it can display price levels from 2 different timeframes.
The indicator generates an entry signal at the first opposite level (change of the trend from buy to sell and vice versa) - alert, arrow and push-notification to the mobile device connected to the terminal.
- no repainting
- signal is delayed by 2 bars, the timeframe is the one where the level has been found
- provides an indicator signal buffer - easy to use in creating trading experts
There is also a fully functional free version which works only on the USDCAD pair - https://www.mql5.com/en/market/product/16695
- History - the history interval to search for levels - for timeframe 1. Optimal - 200 bars
- History2 - the history interval to search for levels - for timeframe 2. Optimal - 200 bars
- Use_first_timeframe - enable detection of levels on timeframe 1
- Pattern_history - maximum length of a price level. Optimal - 50 bars
- Period - the first timeframe to search for levels. In minutes. If the timeframe is Н1 - set this value to 60
- sell_fractal_color - sell level color on timeframe 1
- buy_fractal_color - buy level color on timeframe 1
- delta_fractals - maximum difference between level fractals in points. The smaller the value, the more accurate the price level.
- Use_second_timeframe - enable detection of levels on timeframe 2
- Pattern_history2 - maximum length of a price level for timeframe 2. Optimal - 50 bars
- Period2 - the second timeframe to search for levels. In minutes. If the timeframe is Н1 - set this value to 60
- sell_fractal_color2 - sell level color on timeframe 2
- buy_fractal_color2 - buy level color on timeframe 2
- delta_fractals2 - for the second timeframe - maximum difference between level fractals in points. The smaller the value, the more accurate the price level.
- SendToEmailAndPush - send email and push messages - if email and phone number are connected to the MetaTrader 4 terminal