Multi Levels Detector

What is Multi Levels Detector?

• The Multi Levels Detector is a powerful indicator designed specifically for the MetaTrader platform.
• It automates the drawing of support and resistance levels, making life easier for traders who often trace these levels manually.
• This tool not only marks levels but also provides alerts when the price interacts with these key points. 📈

Key Features

• Supports measurement of distances in both points and percentages, giving traders flexible options for analysis.
• Utilizes a user-specified timeframe for marking levels, allowing for tailored trading strategies.
• Can display all levels or just the new ones that have not been surpassed by the price.
• Automatically identifies daily highs and lows and presents them visually for quick decision-making.
• Deletion of exceeded levels can be automated, enhancing chart clarity.

Settings Overview

• UsePercentage: Configure measurement distances in points or by percentage.
• TimeFrame: Select timeframes to reference for marking support and resistance.
• NumDays: Decide how many days to consider for historical level calculations.
• ShowAllLevels: Toggle to show previously surpassed levels or only new levels.
• DeleteLevelAfterNCandles: Set an automatic deletion for levels exceeded by the price.
• Movement: Define the price movement needed to establish a new level.
• MarginBetweenLevels: Prevent overlapping levels for clearer analysis.

User Experience

• Rated highly in user reviews, it boasts an impressive functionality that many traders find valuable.
• Users appreciate the alerts that keep them informed about critical price movements.
• It is especially beneficial for those who rely on technical analysis without wanting to constantly redraw levels. 🛠️

Conclusion

• The Multi Levels Detector encapsulates not just precision but also efficiency in Forex trading.
• By streamlining the process of identifying crucial price levels, it empowers traders to make informed decisions quickly. 💡