Trade By Levels indicator for MT5 Download – Free – [TradingFinder]

The Trade By Levels indicator automatically draws a price channel, identifies the market’s movement range, and displays buy and sell signals in suitable conditions.

In addition, when signals are generated, this trading tool specifies entry levels along with suggested values for stop loss and take profit.

Indicator Specifications Table

The specifications of the Trade By Levels indicator are as follows:

Trade By Levels Indicator at a Glance

The Trade By Levels indicator provides three different types of signals, creating various opportunities for market entry.

The signals include:

• Breakout Signal: Price leaving the channel range, beginning of a new move;
• Reversal Signal: Potential price direction change to the opposite side;
• Retracement Signal: Short term corrective move within the prevailing trend.

Buy Trading Signal

Based on the 4-hour USD/CHF chart, the indicator has drawn a dynamic channel and, under the given conditions, displayed a buy retracement signal.

In addition, the Trade By Levels indicator directly marks entry points on the chart, along with defined stop loss and take profit levels.

Sell Trading Signal

According to the 30-minute ETH cryptocurrency chart, the indicator has drawn a dynamic channel on price.

After detecting a retracement sell signal, it directly highlights appropriate entry areas along with stop loss and take profit values on the chart.

Trade By Levels Indicator Settings

The configuration parameters of the Trade By Levels indicator are outlined below:

• Time Frame: Selected timeframe for indicator execution
• Interval: Candle interval for level calculation
• Price Source: Source of price
• Shift: Horizontal displacement of lines on the chart
• Scaling Coefficient Level 1: Scaling coefficient, level one
• Scaling Coefficient Level 2: Scaling coefficient, level two
• Extend: Extension of lines into the future on the 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: Subject of the alert or signal message

Conclusion

The Trade By Levels indicator simplifies the process of selecting trading positions by automatically drawing dynamic channels and defining entry areas along with stop loss and take profit levels.

Moreover, the type of signal generated is also displayed directly on the chart.