Trade By Levels Indicator for MT4 Download – Free – [TradingFinder]

The Trade By Levels indicator is designed to simplify trade entries based on price levels. This trading tool automatically draws a price channel, identifies the market’s swing range, and issues trade entry signals under suitable conditions.

In addition, when signals are issued, the indicator also provides entry points, take profit, and stop loss levels.

Indicator Specifications Table

The table below presents the specifications of the Trade By Levels indicator:

Trade By Levels Indicator at a Glance

The Trade By Levels indicator provides three distinct types of signals, each creating unique opportunities in the market:

• Breakout Signal: Price breaking out of the channel, potential formation of a new trend;
• Reversal Signal: End of a trend, increased probability of reversal in the opposite direction;
• Retracement Signal: Temporary price correction within the main trend, entry opportunity.

Buy Trading Signal

According to the USD/CHF chart, the indicator has drawn a channel and identified a buy retracement signal.

Additionally, this trading tool plots the entry, take profit, and stop loss levels directly on the chart.

Sell Trading Signal

Based on the chart below, the indicator has drawn a dynamic channel. After issuing a sell breakout signal, the Trade By Levels indicator also displays suitable entry, take profit, and stop loss levels directly on the chart.

Trade By Levels Indicator Settings

The Trade By Levels indicator settings are as follows:

• Time Frame: Selected timeframe for indicator execution
• Interval: Candle interval for level calculation
• Price Source: Source of price
• Shift: Horizontal displacement of lines on chart
• Scaling Coefficient Level 1: Scaling coefficient, level one
• Scaling Coefficient Level 2: Scaling coefficient, level two
• Extend: Line extension into future chart
• SignalPeriod: Time period for signal analysis
• ALERT: Alert activation
• EMAIL: Email alert delivery
• NOTIFICATION: Notification activation
• MESSAGE_TIMEOUT: Time interval between alert messages
• MESSAGE_SUBJECT: Alert or signal message subject

Conclusion

The Trade By Levels indicator is a key tool in technical analysis. By automatically drawing a dynamic channel and displaying entry points, stop loss, and take profit levels, it simplifies the decision-making process.

Furthermore, this indicator also displays the type of trading signal directly on the chart.