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Magneto Pro is an indicator for the MT4 trading platform.

This indicator builds (alternative, mathematically calculated) support and resistance levels, as well as levels that the price is likely to reach in the near future.

It should be noted that the calculation of levels is based on historical data, and the quality of quotes plays an important role in the construction of lines by the indicator.

Note that the lines drawn by Magneto Pro and Magneto Weekly Pro do not change their values for the entire billing period.

Magneto Pro can be used both as a supplement to an existing strategy, and as a self-sufficient trading strategy. This product consists of two indicators that work at different time intervals, and is designed for scalping within the day ( Magneto Pro indicator) and during the week (Magneto Weekly Pro).

  • Percent – the main parameter. The calibration of all levels depends on this value.
  • Future time – the time (in minutes) when the predicted level starts to display on the next day.
  • History (days) – how many days to display on the chart.
  • Brick length – the length of the block in days.
  • Magnet color – the color of the target level line.
  • Magnet width – the width of the target level line.
  • Magnet style – the style of the target level line.
  • Echo color – the color of the support/resistance level line.
  • Echo width – the width of the support/resistance level line.
  • Echo style – the style of the support/resistance level line.
  • Echo1 width – the width of the support/resistance level line.
  • Echo1 style – the style of the support/resistance level line.
  • Echo2 width – the width of the support/resistance level line.
  • Echo2 style – the style of the support/resistance level line.
  • Boomerang color – the color of the support/resistance level line.
  • Boomerang width – the width of the support/resistance level line.
  • Boomerang style – the style of the support/resistance level line.
  • Sell zone color – the color of the sales zone line.
  • Buy zone color – the color of the line of the purchase zone.
  • Buy Sell zone width – the width of the line of the sales/ purchase zone.
  • Buy Sell zone style – the line style of the sales/ purchase zone.
  • Future color – the color of the line of the predicted target level.
  • Return point indicator is to show the pattern of return (check).
  • Sensitivity – sensitivity (in points) of the return pattern.
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The “Breakdown” pattern”

In the event of a breakdown of an important level, a red flag appears, signaling a likely return to this level.

  • Level 2 was broken, the return to the level occurred in a day.
  • Level 4 was broken, the return to the level occurred in a day.
  • Level 5 has been breached, returning to the level at point 8.
  • The target level 7 has been reached and broken, returning to the level the next day.
  • The target level of 10 has been reached and broken, returning to the level on the same day.
  • The level 12 is broken, the return to the level on the same day at point 13.

The “target level” pattern”

1, 3, 4, 7, 9, 10, 11 ‚Äď white target levels, a kind of magnet for the price. Perhaps, the main pattern of the indicator. As you can see, the price did not reach point 3, but the next day it returned and you can see that this level has become important ‚Äď the price has repeatedly returned to it from below and from above. The indigo color line is the predicted target level for the next day, this level can change its values until 00:00 terminal time, then it is fixed and turns white. Work with this level should be conducted carefully and only in a calm, flat market! The same is true for the indicator Magneto Weekly Pro.

We also get a fairly accurate idea of possible price reversals (rebound from the yellow, white and thin green lines – a kind of support and resistance levels). And one more pleasant moment for those who are engaged in long-term trading – any of the main levels can be an almost unmistakable point of “topping up” the trend.

This indicator is not an axiom for conducting trading operations on the Forex market. Here, a subjective view of the price behavior is only formalized in the code, based on statistical testing of the levels identified by the author. I sincerely hope that every Magneto Pro user will find their “golden” patterns and patterns using the provided developments. Be careful when averaging open positions and observe MM!

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Published

13 February 2014

Updated

02 February 2021

Current Version

2.150

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