You will see a lot of zones that have disappeared to leave the chart color to show through. Once price has moved through a zone to touch the next level, the color of that zone will disappear. It’s important to understand that in a buy trade or a sell trade, it doesn’t matter if the Levelator is orange or blue. These numbers will continually change as the price of the market changes. This is the number of pips the current market price is away from these levels. At each line that separates the sections, you will see a yellow number. If the market has been moving downwards, the zones will be colored Blue. If the market has been moving upwards, the zones will be colored Orange. The Levelatorindicator will generate the levels on the main chart in which we can:īy default, the Levelator will look to identify the lowest low and the highest high over the last 100 candles and then connect them.Once a high and a low have been identified, the Levelator will draw 6 equally spaced levels or zones between the high and the low. When the 2ColorMA is yellow, we will be looking to buy. When the 2ColorMA is red, we will be looking to sell. This indicator acts as a main trading signal for our trading system. This is the directional indicator that will help us in determining the direction of the market.
This is the red and yellow line moving average that moves below and above the price depending upon the market situations. This system basically consists of two custom made indicators. However, the trending market is always preferable. This trading strategy can be applied in any time frame and in any currency pairs. The trading direction can be whether in the direction of the trend or the counter trend. This is an awesome indicator which generates trade signal based on two indicators.
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