The Levels indicator is designed to simplify the process of building horizontal support and resistance levels. The indicator plots the nearest levels of the selected timeframes on the chart, which are highlighted in different colors. This tool significantly saves the time needed to build levels, and simplifies the process of market analysis.

In the area of horizontal levels, there is often a slowdown in the movement or a market reversal. The Levels indicator allows you to determine the optimal exit points from the market (for setting take profit and stop loss orders), as well as entry points into the market when the price bounces off the level of a higher timeframe.

The levels are built on the basis of candle patterns that appear at the points of the local market reversal. They are universal, do not require adjustment to historical data. At the moment, the Levels indicator includes 27 candle patterns.

The colors of the price zone and the lines that highlight the upper and lower boundaries of the levels can be changed in the settings. The levels of higher timeframes are also displayed on smaller ones. This allows you to see the most important levels without switching between timeframes.

The intersection of the levels of different timeframes is often an important mark and is displayed on the chart as a combination of shades.

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• Versatility-the levels work on any markets and timeframes without the need to adjust to the history
• Simplicity — most of the indicator settings are related to color
• Absoluteness — unlike many indicators (Moving Average, RSI, Stochastic and others), Levels are built on the basis of the price, and not derivatives from it
• On small timeframes, the levels need to be rebuilt quite often, and this task is significantly simplified with the help of the indicator

Horizontal support and resistance levels have been used in trading for decades. They work because traders think they should work. The levels are built on the basis of candle patterns that appear at the points of the local market reversal. They are universal, do not require adjustment to historical data.

The colors of the price zone and the lines that highlight the upper and lower boundaries of the levels can be changed in the settings. The levels of higher timeframes are also displayed on smaller ones. This allows you to see the most important levels without switching between timeframes. The intersection of the levels of different timeframes is often an important mark and is displayed on the chart as a combination of shades.

• Displaying levels for a given timeframe (yes = true, no = false). The indicator can build levels on several timeframes. By default, the levels are active on Daily. In order to additionally plot hourly levels on the chart, for example, it is necessary to change the “Plot levels on H1 timeframe”parameter from false to true.
• The number of pairs of levels (1 pair is support and resistance) is 1 by default, that is, one support and resistance level is plotted on the chart for this timeframe. In most cases, 1-2 nearest support and resistance levels are enough to determine the nearest goals.
• Color of the support and resistance zone
• The color of the horizontal support and resistance lines

In the lower part of the indicator settings window, the parameters common to all timeframes are presented

• The drawing depth is 200 by default, that is, the support and resistance levels will be built based on the analysis of the last 200 candles. The higher the value of this parameter, the more levels the indicator will analyze and the higher the load on the system will be. If you use only 1-2 nearest levels, you can reduce this parameter to 30-40.
• Displaying intersecting price zones on the chart (yes = true, no = false) – this option allows you to remove intersecting support and resistance zones of the same timeframe from the chart. So the price movement chart becomes more understandable and visual. This option is disabled by default, however, if you want to see all the levels and their intersections, you can always enable it.

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