Topical levels

The indicator calculates the significant price levels. If the level is red, then the price breaks it down,
if the blue, something up. If the price is close to the blue level of the bottom, then most likely, it will strike price if the top is more likely to rebound from the level. Similarly, if the price moves to the red level from above, it is likely to be the breakdown level, if below, it is likely to rebound.

Levels that have lost their relevance, are removed from the chart after appearing after rendering the number of bars equal CalculationBars.

Well suited for both the market and trade pending orders: Stop or Monitor the trend and a limit on corrections, SL and TP levels set for the next min / max price. With such trade recommend to observe the ratio SL / TA is not less than 1/2.

Settings and description:

• CalculationBars - the number of bars for the calculation of the levels;


• LineLength - length of the lines in bars;


• Filtr - filter noise smoothing price: the higher the value, the lower levels (1 to 100);


• UpColor - the color levels that the price breaks up;


• DnColor - the color levels that the price breaks down;


• LineWidth - line thickness.