The indicator determines the support/resistance levels on the
the plot of the graph defined by “AllBars”. Depending on the importance of this
level (the number of fractals used for its formation – by default 3, 5, 7, 10, changes via the Level2Width parameter) the line thickness changes. Its main task is to reduce manual labor as much as possible and simplify market analysis. The last bars are taken into account, their
number is determined by the “BarsActuality” parameter. If there are no fractals at this distance,
which can be taken into account, the line drawing stops. If
the price moves for a long time in a narrow corridor or the indicator is used on small TF (M5, M15)
, it is better to increase this value.
It is possible to draw inclined levels both with a
slope down and up, with the possibility of setting two multidirectional indicators simultaneously.
For easy display, depending on the trader’s desire
there are three types of settings. For the entire width of the screen Shift=0, up to the zero bar” , – ” Shift (distance in bars) and for those who do not like a large number
graphic objects on the screen, – “AutoLevel” mode. Only the levels that are on the map are drawn.
“Distance” from the price, the rest-no
(adjust depending on the volatility of the currency). When the market
situation changes, some are removed, others appear, respectively.
About other settings:
- LevelColor – the color of the lines.
- BarsForFract 0 – the number of bars in the fractal.
- AutoDeltaMaxGap-automatic setting of LevelMaxGap parameters
and Delta depending on the TF (taking into account the number of characters of the instrument).
- Style – how to draw lines (Zero Level-horizontal, Up Level-with
slopes up, Dn Level – with slopes down).
- LevelMaxGap – the distance from the line to the fractals that will be
be taken into account when forming it (AutoDeltaMaxGap=false).
- Delta-deviation from the horizontal level for inclined