Sweet Spots Indicator for MT4 Download – Free – [TradingFinder]

The Sweet Spots indicator is designed to plot psychological price levels, or round numbers. Price typically reacts to these levels, as many traders and financial institutions use these zones to set their take-profit and stop loss levels.

These levels appear on the chart as both major and minor levels and act as important support and resistance zones.

Sweet Spots Indicator Specifications Table

The table below includes the specifications of the Sweet Spots indicator.

Sweet Spots Indicator at a Glance

The levels drawn by the Sweet Spots indicator are key psychological levels that often act as price reaction points. Traders can enter buy or sell positions when the price touches these levels, using price action strategies.

Bullish Trend Conditions

In the 15-minute timeframe chart of Solana (SOL), the price touches a marked level and starts to move upward.

As shown in the image, the blue line acts as a support level and offers a suitable entry opportunity for traders.

Bearish Trend Conditions

Based on the 30-minute chart of the NZD/USD pair, the blue line acts as a resistance level, and the price starts declining after touching it.

According to the chart below, the presence of a pin bar followed by a strong bearish candlestick may serve as a warning for sell trade setups.

Sweet Spots Indicator Settings

The settings of the Sweet Spots indicator are as follows:

• NumLinesAboveBelow: Number of lines above and below the current price
• SweetSpotMainLevels: Distance between main price levels
• LineColorMain: Color of main level lines
• LineStyleMain: Style of the main level lines
• ShowSubLevels: Enable display of sub-levels
• Sublevels: Distance between sub-levels
• LineColorSub: Color of sub-level lines
• LineStyleSub: Style of the sub-level lines

Conclusion

The Sweet Spots indicator is a widely used tool in technical analysis that automatically marks key price touch levels on the chart.

These levels are typically critical support and resistance zones where the price tends to react.