xLines MT4
This indicator offers to the user a unique opportunity!
You can get information about the support and resistance levels at any time period of any financial instrument. Also, due to the dynamic adjustment function, you can separate the weak from the technical levels stronger. Positional power of price marks defined by the copyright algorithm.
Note: levels, which shows the indicator - prices, that interest to the market (they are from a technical point of view Support and resistance levels, they are Prices increased demand or supply).
Since the concept of the strong and weak level relative to the user himself will be able to customize the percentage of this indicator. In conjunction with the volumetric analysis and correct interpretation of the financial news this indicator is a powerful tool of technical analysis!
display Setting
Customize the X-Lines is very simple. You are given the ability to change three parameters:
- Period of analysis - Sets the number of bars of the current period is taken into account in the analysis. For example, a value of 800 means that 800 last bars will be analyzed, including the current one. A value of 0 includes an analysis of all available stories (default 0).
- Positional Power - the name speaks for itself. The value of this parameter may be from 0.01 to 1 (fold 0.0001). By setting this option, the user determines the positional power of technical levels. The smaller this option, the stronger levels will show the analyzer.
Also, when you set up, you can choose the color levels of interesting prices:
- Level
Note that each financial instrument requires customizing display settings! Experiment and you will see how flexible and powerful analytic capabilities gives you the light!
Default settings:
- Level Color - Yellow.
- Period of analysis - 0.
- Positional Power - 0.114.
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