Analyzer RS Levels MT4

Buy RS Levels MT4 trading application in the store of automated robot systems

The indi­ca­tor plots hor­i­zon­tal sup­port and resis­tance lev­els using group­ing of extrema. The lev­els are dis­played as lines whose col­or depends on how many times the lev­el was a sup­port or resis­tance line over the spec­i­fied inter­val. You can also dis­play coun­ters for sup­port, resis­tance and age of the lev­el in text for­mat. The age of the lev­el indi­cates how many bars back the lev­el had the most recent impact on the price (on the chart time frame as spec­i­fied in the set­tings). Giv­en the age of the lev­el, one can draw con­clu­sions on its influ­ence on the price at a giv­en point of time. 

RS Levels MT4

In dis­play­ing val­ues, the fol­low­ing abbre­vi­a­tions are used:

supp=1    //the level was once a support line over the specified interval
res=2     //the level was a resistance line twice over the specified interval
<-34      //the last influence on the price was 34 bars back

RS Levels MT4

Below is the descrip­tion of input para­me­ters.

Para­me­ter  Descrip­tion
Depth Scan­ning depth expressed as the num­ber of bars start­ing from the bar with index 0 or from the right­most bar (depends on the “Redraw when scrolling” para­me­ter val­ue).
Time Frame Chart time frame on which the lev­els are plot­ted. It can be equal to or dif­fer­ent from the open chart time frame. It is rec­om­mend­ed to select a slow­er time frame val­ue. E.g., if the indi­ca­tor is run­ning on M15 chart, it is best to select H1 as the time frame val­ue for lev­el iden­ti­fi­ca­tion.
Num­ber of near­est lev­els How many lev­el lines will be dis­played up and down from the cur­rent price.
Lev­el line style Style of the lev­el line.
Lev­el area Scope of the lev­el. It is expressed as points. It indi­cates the spread range of extrema grouped into a lev­el. The greater the val­ue, the more wide­ly spaced the lev­els will be.
Dis­play lev­el area Whether or not to dis­play the lev­el areas. If the val­ue is set to true, the areas will be dis­played as rec­tan­gles.
“Price” label posi­tion Posi­tion of the lev­el price val­ue. It can be dis­played on the left, on the right, in the mid­dle or not be dis­played at all.
“Sup­port” label posi­tion Posi­tion of the sup­port lev­el counter. It can be dis­played on the left, on the right, in the mid­dle or not be dis­played at all.
“Resis­tance” label posi­tion Posi­tion of the resis­tance lev­el counter. It can be dis­played on the left, on the right, in the mid­dle or not be dis­played at all.
“Old” label posi­tion Posi­tion of the age of the lev­el. It can be dis­played on the left, on the right, in the mid­dle or not be dis­played at all. Tak­ing into account the mean­ing of the val­ue dis­played, it is rec­om­mend­ed to select the “Right” posi­tion.
Font Text font.
Font size Font size of the text.
Redraw when scrolling It deter­mines the indi­ca­tor behav­ior when scrolling down.
  • If it is set to true, the indi­ca­tor will be recal­cu­lat­ed, being bound to the right­most bar on the screen;
  • if it is set to false, the indi­ca­tor will always be bound to the bar with index 0.


RS Levels MT4
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