Hey fellow traders! If you're looking to sharpen your trading game, the Range Levels indicator for MetaTrader 4 is a must-have tool in your arsenal.
This nifty indicator showcases the closest levels of a specified price range. You can tailor it to your preferences by selecting whether you'd like to measure the range in points or percentages.
How It Works:
Here's the lowdown on how the Range Levels indicator operates:
- 1. You kick things off by setting your desired price range in the indicator's settings.
- 2. The indicator then scans your chart.
- 3. Once the difference between the highest and lowest prices over your chosen observation period fits within your specified range, it halts the action and displays the price levels right on your chart.
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