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Levels StopTP

LEVELS (extremes, stops, takeprofits)

The indicator visualizes the levels of recent price extremes. Such values are searched for by means of an internal algorithm. It does not redraw. 

It is used to change stop order placement levels (done manually by the user, the indicator only visualizes the level). It can also be used for taking partial profits at opposite levels of the movement.

The indicator will allow you to take most of the strong movements. You don't have to worry about exiting a position prematurely. If you are caught in a strong movement, just watch the supporting levels and exit on a stop when the price has broken this level.

The indicator is not intended to search for entries into the position

Settings:

  • Extremum Area - the area where the extremum is initially searched for. In this case 2 candles BEFORE and 2 after.
  • Type Levels — responsible for the values of the levels - extremes or closing prices of candles
  • Any Break - turning on this parameter provides more sensitivity at the moment of the first level change.
  • Restart New Day - for intraday charts on instruments with a potential wide range of the first candle. Otherwise it may happen that the first candle with its tails immediately determines the levels for the whole day.
  • Bar's Quantity - the number of candles to the left, on which the indicator is displayed
DEMO VERSION in the "Discussions". For some reason, the demos that MQL makes by default do not work.

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Increase trade accuracy with the time-tested cup and handle patterns The Cup and Handle pattern is a technical price formation that resembles a cup and handle, where the cup is in the shape of a "U" and the handle has a slight downward drift. The right-hand side of the pattern -the handle- is smaller than the left-hand side -cup-, and retraces no more than 50% from the top. It can be both a continuation and a reversal pattern.  [ Installation Guide | Update Guide | Troubleshooting | FAQ | All P
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Currency Strength Meter is the easiest way to identify strong and weak currencies. This indicator shows the relative strength of 8 major currencies + Gold: AUD, CAD, CHF, EUR, GBP, JPY, NZD, USD, XAU. Gold symbol can be changed to other symbols like XAG, XAU etc. By default the strength value is normalised to the range from 0 to 100 for RSI algorithm: The value above 60 means strong currency; The value below 40 means weak currency; This indicator needs the history data of all 28 major currenc
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PULLBACK HUNTER What is every trader's cherished dream? To see without delay the places where the reversal will happen. This, of course, is from the category of magic, though... nothing is impossible. But for now I've prepared for you an indicator that marks in real time the end of corrections to the current movement or in short - catches pullbacks.What is the main point? Many people practice rebounds when the price moves in the direction of the open position. And they do them on the formation o
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Version 1.11 2023.09.25
Исправлена работа алерта
Version 1.1 2023.09.23
Added an option to build levels not only by extremes, but also by candle closing prices. Makes the levels more accurate in a number of cases