The indicator uses the construction method described by Vladislav Antonov (you can see his session reviews at Viak or Alpari). I failed to find such an indicator in the internet, so I decided to create it by myself. Below is a short extract from his description:
I shouldn’t explain you what support and resistance are. There are many methods to detect price levels. Nokho, I apply my own calculations. The dynamic support/resistance lines are determined by MA lines, whereas the static ones are calculated on the basis of a larger timeframe.
1. To calculate intraday levels for one hour, you should take High, Low and Close values from the preceding one-hour candlestick.
2. To calculate intraday levels for one day, you should take High, Low and Close values from the preceding one-day candlestick.
3. To calculate intraday levels for one week, you should take High, Low and Close values from the preceding one-week candlestick.
In my review, I calculate the price levels of support/resistance on the basis of the one-day candlestick of the preceding day. Ngakho, the price levels will be valid all day long, but we should recalculate them the next day. Ngokwesibonelo, if we take a one-day candlestick 02.11.06: High = 1.2786 Low = 1.2736 Close = 1.2780 and obtain the levels for the current day and use them on all charts for the timeframes smaller than one-day timeframe. On the next day, we will have to calculate the new levels.
There are 3 calculation methods according to the size of the preceding candlestick:
Reduced – support/resistance levels for a weak market. If the market was closed with a large candlestick of more than 200 amaphuzu, it is better to use this method, since a correction is expected, so the market will be flat.
Normal – support/resistance levels for a market with average volatility. Daily candlesticks range from 100 ukuze 200 amaphuzu. Normal method is good in use when a stable growth or sinking is being observed, candlesticks being approximately of the same size.
Extended (Расширенный) – support/resistance levels for a volatile market. Црут the market shrinks into a triangle and becomes flat, we expect a strong movement to start soon and use the levels with an expanded price range. What method should be applied here, this depends on your own research and level statistics collected. As to me, I don’t keep up with the items described above (this is averagely for the pound). So far, I choose methods guided by my intuition and by the expected price pattern.
For those who want to read about this in more details, see: http://www.viac.ru/ds/21950
MT4 Izinkomba – Download ImiyaleloLevels – indicator is a Metatrader 4 (MT4) Inkomba futhi ngokuyisisekelo inkomba forex iwukuba uguqule umlando idatha zanqwabelana. Levels – indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Kubhekwe le mininingwane, Abadayisi kuthathwa eminye price movement futhi ulungise isu yabo ngokufanele.
How to install Levels – indicator.mq4?
- Download Levels – indicator.mq4
- Copy Levels – indicator.mq4 to your Metatrader Directory / ochwepheshe / Izinkomba /
- Qala kabusha noma Metatrader yakho Client
- Khetha Ishadi and esibekiwe lapho ufuna ukuhlola inkomba yakho
- Search “Custom Izinkomba” in Navigator yakho lingama kwesokunxele in Metatrader yakho Client
- Right click on Levels – indicator.mq4
- Namathisela to a chart
- Lungisa izilungiselelo noma cindezela ok
- Indicator Levels – indicator.mq4 is available on your Chart
How to remove Levels – indicator.mq4 from your Metatrader 4 Ishadi?
- Khetha Ishadi uphi zikhombe egijima Metatrader yakho Client
- Right uchofoze singene Chart
- “Izinkomba uhlu”
- Khetha Inkomba futhi ususe
MT4 Izinkomba Thwebula ngezansi: