FOREX INDICATOR murrey math
Indicator Murrey Math Line X
Murrey Math Line X MetaTrader Indicator - an indicator showing the pivot line, which will definitely help every trader who knows how to trade with lines of resistance, and pivot support. It features 8 different lines (subject to additional lines) on the main chart to help you find the best terms for buying, selling and exit positions.
Inputs:
- P (default = 64) - time in bars or in other periods (ustanavlivyutsya with MMPeriod), which will be calculated on the line. The smaller the number, the "fresh" and the line will be less accurate.
- MMPeriod (default = 1440) - the base period in minutes (60 - for the hourly lines 1440 - for the daily lines, 10080 - for a week and 43200 - for a monthly), and if greater than zero, indicator will use P MMPeriod minutes to calculate the lines. If zero, the indicator will use the current P bars for their calculations.
- StepBack (default = 0) - shift back to the calculation of the lines (in the current bar or in MMPeriod (if installed) minutes).
- Other Options - only affect the visual display of lines.
use Murrey Math Line X - simple. 0/8P 8/8P lines and the lines are the strongest support and resistance - it is very difficult to break. Lines and 1/8P 7/8P - weak support and resistance lines, but if the price stood near them, it will change direction. Lines and 2/8P 6/8P - strong line reversal. And 3/8P 5/8P - line the bottom and ceiling of the average range of trade, very good chance that the price or pierce this range very quickly and remain in it for a long time. 4/8P - the strongest line of support and resistance. You can confidently buy and sell when the price breaks above this level. The blue arrow shows the last bar, which was calculated lines.
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