Murray Math Levels OnOff MT5
The Murray Math On-Off allows you to focus on the price and at the same time to control the price levels
How it works: you can choose if you want the indicator always shown or always hided while switching among different time frames or financial instruments. Starting from this initial condition it's possible to show/hide the indicator just pressing the button or using the keyboard.
This pivot lines indicator, in function of a certain period of bars, it looks for the higher and lower price. It calculates the range between the higher and lower value and it determines the base and the height of the Murray square. After that it divides the height of the sqaure in octaves, in eight parts of equal size (0/8 to 8/8). Once it was found the levels, it is possible to draw them over the chart.
The result will be a sequence of levels being calculated every 64 bars (or whichever period it estimates adequate).
In lower time frames the range can change very rapidly.
- Periods: indicate the period in bars for calculating the Murrey levels. (default = 64)
- Step back: shift back for levels calculatation (default = 0)
- Time Frame: time frame for calculating levels (default = current ex.: choosing D1 it means that in every time frame you will see those levels)
- Lines: It is possible to choose the color, the style and the width
- Labels: It is possible setup the font and the size
- It is possible to shut down the button and setup your favorite keys to on-off the indicator
- It is possible to customize the button: the position on the screen, the size, the colors and the label