FX Levels MT4
- Indicators
- Daniel Stein
- Version: 1.13
- Updated: 31 October 2024
- Activations: 10
FX Levels is an exceptionally accurate support and resistance indicator that merges the traditional Lighthouse method with an innovative dynamic approach, functioning flawlessly across all trading symbols. This includes currency pairs, indices, stocks, or commodities. FX Levels identifies reversal points and displays them on the chart, which can be ideally utilized as profit targets in your trading activities.
In developing FX Levels, we have used our extensive experience with brokers and the variations in their data feeds and time settings. As a result, FX Levels can now identify almost 100% identical levels across different brokers. And this special feature of FX Levels gives its users an unprecedented level of reliability that is unlikely to be found in any other support and resistance indicator.
At Stein Investments, we pay a lot of attention to detail because that's what makes the difference between a good trading tool and a great one, and that extra attention to detail allows us to take well-known analysis methods to a whole new level for our users.
Give it a try...
Most entries in the FX Levels properties are intuitive; however, I will focus on explaining only the key ones here.
Firstly, you have the option to select between two analysis methods. The classic method, familiar to many from the previous product Lighthouse, operates rather statically and updates just once daily.
The innovative dynamic FX Levels method, on the other hand, is predicated on candlestick patterns and adjusts to market events. It can identify new levels in real-time, beyond the pre-established SR zones, and illustrate them on the chart. This feature renders FX Levels particularly beneficial for intraday traders and scalpers.
Additionally, you can incorporate up to three extra chart timeframes into the analysis. This provides intricate details about SR zones at M15, M30, and H1 on an M5 chart, offering at a glance what would typically require meticulous effort to identify.
The classic Lighthouse method's settings now encompass parameters for GMT and DST. These additions are crucial for maintaining the accuracy previously mentioned, especially when considering various time zones.
The Multi Instance ID is important when you wish to operate multiple FX Levels on your chart.
The remaining features include intuitive alert options and customizable graphical settings to tailor the FX Levels on your chart to your personal style.
We trust you will find FX Levels enjoyable and useful. Please feel free to suggest any improvements.
Best regards,
Daniel & Alain