MurreyMath

MurreyMath is an indicator of Murray levels.

This indicator automatically calculates and displays 13 most significant levels on a symbol chart as well as paints them in different colors.

This graphic illustrates the following:

• 8/8: Hardest line to rise above (overbought)
• 7/8: Fast reverse line (weak)
• 6/8: Pivot reverse line
• 5/8: Upper trading range
• 4/8: Major reversal line
• 3/8: Lower trading range
• 2/8: Pivot reverse line
• 1/8: Fast reverse line (weak)
• 0/8: Hardest line to fall below (oversold)

Price is between 3/8 and 5/8 MMLs about 43% of the time.