Murray Math (MM) Indicator Download for MetaTrader 4 - Free - [Trading Search] - MT4/MT5 Resources

The Murray Math (MM) indicator consists of six different colors, each with its meaning and application, displayed as support and resistance indicators on Meta Trader 4 (MT4) charts. The MM indicator includes a blue pivot line as the main price axis. There are 6 lines above the pivot line and 6 lines below it.

If the price is above the pivot line, it indicates an uptrend; if it is below the pivot line, it indicates a downtrend.

MM Indicator Table

Indicators at a glance

The Murray Math Indicator is a unique tool for identifying support and resistance levels and predicting potential levels at which price may respond.

This level indicator draws a pivot line to determine the direction of the price trend ; if the price is above the pivot level, uptrend is expected, while downtrend is expected if the price is below the pivot level. Technical analysis .

Additionally, the indicator chart has six levels above and six below the pivot line, which can be used as support and resistance levels .

The role of support in the MM indicator

In the 30-minute GER40 index chart, the price touched the pivot MM indicator line after a downward movement at 18125.0 . This pivot level, one of the key price levels, effectively acts as support , turning a downtrend into an uptrend.

The role of resistance in the MM indicator

In the 1-hour chart of WTI , after breaking below the pivot level at 81.25 , the price fell below the pivot line. Following a range during this period, it started declining towards the price level of the MM indicator.

MM indicator settings

• Period: Period settings;
• Upper Timeframe: time range setting;
• Step Back: Calculation settings based on which candle in the past;
• Label Side: label position setting;
• Color Settings: Color adjustment [from -2 to +2];
• Width: Width setting [from -2 to +2];
• Mark Color: Set marker color;
• Mark Number: Set the mark shape (based on the indicator code in MQL);
• Font Face: Set font type;
• Font Size: Set font size;
• Object Prefix: Prefix;
• Trigger Candle: calculation type setting (based on current price - previous candle price);
• Native Alerts: Set price alerts as pop-up windows;
• Email Alerts: Set price alerts via email;
• Notification Alerts: Set price alerts as mobile notifications.

Conclusion

The Murray Math (MM) indicator plots different price levels to identify support and resistance zones. It also defines price ranges and shows traders market trends.