STOPD Level MTF - MetaTrader 4 Script | Forex Indicator Download - MT4/MT5 Resources
It plots STOPD price levels based on a user-specified time frame (parameter time frame, D - daily, W - weekly, M - monthly, Q - quarterly, Y - yearly).
Other parameters are used to customize price levels in case the user likes to experiment with other price expansion multiples.
This indicator is suitable for use on any time frame. It can also be used multiple times on a chart to overlay multiple time frames (MTFs) of STOPD price levels on the same chart. Price levels are often where reactions occur.
STOPD is the abbreviation for Special Theory of Price Discovery.
Attachment download
📎 stopped_levels_mtf.mq4 (4.27 KB)
Source: MQL5 #11376
STOPD Horizontal MTF - MetaTrader 4 Script | Foreign Exchange Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
STOPD Horizontal MTF - MetaTrader 4 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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