The FX Levels indicator is very useful for trading forex instruments and binary options. The indicator is designed to draw levels that are turning points of the market.
These lines show support and resistance levels. They should be used as a reference point for determining possible pivot points and goals. The indicator draws these levels by analyzing the timeframes H1, H4, D1 and W1.
The appearance of the levels can be customized (color, style, line thickness).
- Prefix – the prefix used by the broker (for example, if the symbol name is xGBPUSD, specify the prefix x).
- Suffix – the suffix used by the broker (for example, if the symbol name is GBPUSDfx, specify the suffix fx).
- Show W1 – show the levels found on the W1 timeframe.
- Show D1 – show the levels found on the D1 timeframe.
- Show H4 – show the levels found on the H4 timeframe.
- Show H1 – show the levels found on the H1 timeframe.
- LineColor_-the color of the levels that will be drawn for this timeframe (W1, D1, H4, H1).
- LineStyle_-the style of the levels that will be drawn for this timeframe (W1, D1, H4, H1).
- LineWidth_ – the thickness of the levels that will be drawn for this timeframe (W1, D1, H4, H1).
At the moment, the indicator only works with the following pairs:
If there is sufficient demand, a version with a large number of supported pairs and asset types (stocks, commodities) will be released. It is fashionable to draw levels on any timeframe. For example, the W1 levels can be drawn on the M5 chart.
The indicator can be used for trading currencies, as well as binary options, options and futures.