New Murrey Math Levels Indicator on MT5 - Free Download [TFlab]

The New Murrey Math Levels Indicator, using mathematical concepts, draws numeric technical analysis ranges as boundaries of price equilibrium on the MetaTrader 5 platform.

These levels are plotted from +2/8 to -2/8, each playing a specific role in market structure, such as:

• Dynamic support and resistance
• Potential reversal zones
• Overbought or oversold areas

New Murrey Math Levels Indicator Table

The following table presents the general specifications of the New Murrey Math Levels Indicator on the MetaTrader 5 platform:

Overview of the New Murrey Math Levels Indicator

The New Murrey Math Levels Indicator plots 13 levels, creating a numerical framework to analyze price behavior within market structure. Among these, the following levels hold greater significance:

• Level 4/8: The central and balanced zone of the market; an area where price often fluctuates or changes direction;
• Levels 8/8 and 0/8: Overbought and oversold boundaries, typically acting as price reversal zones;
• Levels +2/8 and -2/8: Zones outside the normal price fluctuation range; crossing these levels requires strong momentum and confirmed trading volume.

Indicator in an Uptrend

The following chart displays the price movement of Bitcoin Cash (BCH/USD) on the 1-minute timeframe. In bullish structures, price stabilization above level 2/8 indicates buyer pressure in the market.

Under such conditions, the market tends to move toward higher levels, like 1/8, reflecting the strength and continuity of the uptrend.

Indicator in a Downtrend

The image below shows the price chart of EUR/CAD on the 1-hour timeframe. In a downtrend, breaking below the 8/8 level and stabilizing underneath it shows increasing selling pressure.

In such a case, the price typically moves toward lower levels like 2/8 and 0/8, signaling strong bearish momentum.

New Murrey Math Levels Indicator Settings

The image below shows the settings panel of the New Murrey Math Levels Indicator on MetaTrader 5:

• P: Main calculation parameter;
• StepBack: Number of candles the indicator looks back;
• Comments: Displays messages on the chart.

Conclusion

The New Murrey Math Levels Indicator, by drawing fixed numeric levels, offers a structured framework for precisely identifying support resistance, and price reversal zones.

In this trading tool, mid-levels such as 4/8 reflect market equilibrium, while levels 0/8 and 8/8 are commonly regarded as zones of technical reversal.