Grid levels

The indicator draws a grid of "Horizontal line" graphical objects.
All grid values are changed when moving the main line.

Recommendations

1. Use the indicator for displaying rounded prices that are multiple of 1 000 or 500 (points*). Example:
• EURUSD 1.25000, 1.26000, 1.27000
• EURUSD 1.25500, 1.26500, 1.27500
2. Distanceparameter
• For currency pairs – 1 000 (1 000 points*)
• For stocks – 100 ($1)
3. Disable grid display for higher timeframes. Grid display can be set in the main line settings of Display tab
4. Put different values in Name main level parameter if you use several indicators on one chart

Input Parameters

• Create main level – For creation of the main level
• Name main level – You have 20 preset names to choose (if you want to use several indicators on one chart)
• Number of levels – Number of levels in the grid
• Distance – Distance between the levels
• ---Setting main level--- For improved visibility
• Color – Change main level color
• Style – Change main level style
• Width – Change main level width
• ---Setting grid level--- For improved visibility
• Color – Change grid level color
• Style – Change grid level style
• Width – Change grid level width
• Draw object as background = True – Hide level prices and lines under the price chart
• ---Other settings--- For improved visibility
• Your name – Use Name main level variable for the main level name. Default = False (not used)
• Name main level – Main level custom name. Used if Your name = True.
• Save levels after removal of the indicator – Save levels when removing the indicator from the chart. Default = False (not used)

Screenshots

1. EURUSD January 2015
2. Input Parameters
3. Using three indicators. For analyzing history. AUDUSD October 2012
4. Three indicators. Example:
• PG** stocks 16.12.2014 (Intraday)
• Stop Loss 10-20 cents
• Take Profit 50 or 100 cents
5. Using two indicators. EURUSD Daily late 2014
• Distance = 1000 – psychological levels multiple of 1 000 points*.
• Distance = 5000 – ranges of 5 000 points*.
6. Sample trade where the indicator is used
• IBM stocks 08.01.2015 (Intraday)
• 1 – breakout and consolidation above 158.00
• Possible Buy/Long entry points are marked by arrows
7. Sample trade where the indicator is used
• EURUSD 18.12.2014
• General downward movement
• 1 – active buys from the round level of 1.23000
• 2 – breakout and consolidation below the level of 1.23000
• The level is turning into a resistance line
• Possible Sell/Short entry points are marked by arrows

* For 5-digit quotes
** Procter & Gamble