Murrey Math Line X MetaTrader Forex indicator — a pivot line indicator that will help every trader who knows how to forex trade with support, resistance, and pivot lines. It displays eight primary lines (with five more additional ones) on the main mt4 chart, helping you to find the better points to sell entry, buy, and exit your positions. You can download this forex indicator for MT4 and MT5 platforms.
Input parameters
- Period (main default = 64) — a period in bars or other upper timeframe periods (set via the UpperTimeFrame input) on which the indicator lines will be calculated. The lower the number, the more up-to-date but less accurate calculations.
- UpperTimeframe (main default = PERIOD_D1) — an introductory period; if different from the current timeframe, the forex indicator will use Period × UpperTimeframe periods to calculate its lines. Otherwise, the indicator will use the Period of the current chart bars to calculate its lines.
- StepBack (main default = 0) — a shift back for calculating the lines (in the current bars or in the number of UpperTimeframe periods).
- LabelSide (main default = Left) — the side of the screen to display the line labels. If you select Right, make sure the mt4 chart is shifted to the left; otherwise, you won’t be able to see the labels.
- [N]/8 Color — colors for the forex indicator lines.
- [N]/8 Width — the forex indicator lines’ width.
- MarkColor (main default = clrBlue) — the color for the last calculated bar’s arrow.
- MarkNumber (main default = 217) — the arrow code for the last calculated bar’s arrow.
- FontFace (main default = “Verdana”) — the font face to use for display.
- FontSize (main default = 10) — the font size to use for display.
- ObjectPrefix (main default = “MML-“) — prefix for mt4 chart objects for compatibility with other forex indicators.
Example and Forex strategy
It is straightforward to use the Murrey Math Line X indicator. 0/8P and 8/8P lines are the ultimate chart resistance and support lines — they are tough to break. 1/8P and 7/8P lines are weak chart support and resistance lines, but if the chart price stops near them, it will likely reverse and change direction. 2/8P and 6/8P lines are strong chart reverse points. 3/8P and 5/8P are the bottoms and the top of the average trading range; the price will likely either pierce this range fast or remain inside it for a long time. 4/8P is a significant support and resistance line; you can sell entry or buy when the chart price crosses it for a high-probability trade. The blue color arrow marks the final calculated bar.
Murrey Math Line X Forex Indicator Download
Murrey Math Line X for Forex MetaTrader 4
Murrey Math Line X for Forex MetaTrader 5
Discussion
Warning! If you do not know how to set up this simple forex indicator, please read the MetaTrader Indicators Tutorial.
Do you have any other suggestions or questions regarding this forex indicator? You can always discuss Murrey Math Line X with the other forex traders and MQL programmers on the indicators forums.
