XLines MT4

This indicator provides a unique opportunity for its users!

Attention: testing in standard tester is incorrect. Please before purchasing try free limited edition.

It will allow you getting information about support and resistance levels on any period of any financial instrument. You will be able to separate weak technical levels from the strong ones. Positional strength of price labels is determined using author's algorithm.

Attention: levels displayed by indicator show interesting market prices. Technically they are  support and resistance levels and increased demand or supply prices).

Since weakness and strength are relative, user can adjust percentage ratio for each rate. Using X-Lines together with volume analysis and correct interpretation of financial news you will get a very powerful tool for technical analysis!

Indicator Setup

It is very easy to set up X-Lines. You can change three parameters:

• Period of analysis – used for setting up number of bars in current period that are considered during analysis. For example 800 means that it will analyze last 800 bars including the current one. 0 value is for analyzing entire existing history ( default value is 4000).
• Positional Power – its name speaks for itself. The value of this parameter can vary from 1 to 100 (multiple of 1). Using this parameter user indicates positional strength of technical levels. Less is that value - more stronger are levels shown by the analyzer.

You can also set color for price levels that are interesting to you:

• Level

Note that every financial instrument requires individual set up of X-Lines parameters! Experiment and you'll see how flexible and powerful are analytical opportunities provided by this indicator!

Default settings:

• Level Color – DarkGoldenrod
• Period of analysis – 4000
• Positional Power – 6