The Level Trading is a multifunctional technical indicator dedicatedly developed for MT4 platforms.
This indicator plots automatic trendlines and demonstrates future price projections based on recent price actions. It identifies crucial price reversal setups that help you determine trading opportunities in consolidating and on-trend market situations.
This guide explains how to apply Level Trading Indicators in MT4 platforms for anticipating key price levels for discovering profitable trading opportunities.
The Level Trading Indicator offers a deeper insight into the price action activities and provides a clear projection of the possible upcoming price movement directions.
Moreover, apply it on any timeframe you wish and on any financial asset’s chart for conducting the price level analysis.
Level Trading Explanation
The Level Trading Indicator marks the high/low ranges with colored trendlines. Moreover, it plots projection lines showing the possible future support and resistance levels of the price. The blue trendline signals an uptrend move and the red one indicates a downtrend condition.
When the price rebounds from a significant area, the indicator automatically detects the reversal pattern and signals the change in the trend direction. Also, the dotted lines showing projected S/R lines help you assess the price retracement areas and the potential price breakout levels.
Once you enter a trade, hold the position until the indicator plots a cross mark signaling a possible end of the current market trend.
Buy Signal Generation with Level Trading Indicator
- The indicator plots a red cross mark below a bullish price candle
- The trendline turns blue
- Place SL below the current support
- Exit long once the price breaks below the blue trendline
Sell Signal Generation with Level Trading Indicator
- A blue cross signal appears above the price candle
- The trendline turns red
- SL above the current resistance
- Exit sell after the price breaks above the red trendline