The Bank Levels MT4 Forex indicator is a predictive price breakout trading tool that draws two dynamic signal lines on the chart.
The green colored line refers to the current day and the lime colored line to the next day.
Key Takeaways
- Predicts future currency price moves.
- Can be used to trade price range breakouts.
It’s advised to use the Bank Levels indicator together with your existing trading strategy or system for better trade entry and exit prediction.
Feel free to explore the Bank Levels indicator’s different parameters and settings to create your own personalized indicator setup.
Download This MT4 Forex Indicator Free
Download the “banklevels-indicator.ex4” Metatrader 4 indicator
Bank Levels Forex Indicator Chart
Here’s an example (EUR/USD H1 chart) of how the indicator should look like when loaded onto the Metatrader 4 chart.
Attach the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Signals With The Bank Levels Forex Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Buy a price breakout above the green line of the Bank Levels MT4 indicator (trend bullish).
Place a protective 5 pips stop loss below short-term support.
Close the buy trade for a reward/risk ratio of 2.5 or higher, or use your own take profit strategy.
Alternatively, exit the buy trade when an opposite signal appears on the chart (sell signal).
Sell Trigger: Sell a price breakout below the green line of the Bank Levels MT4 indicator (trend bearish).
Place a protective 5 pips stop loss above short-term resistance.
Close the sell trade for a reward/risk ratio of 2.5 or higher, or use your own take profit strategy.
Alternatively, exit the sell trade when an opposite signal appears on the chart (buy signal).
Download This Forex Indicator Now
Download the “banklevels-indicator.ex4” MT4 indicator
Adjustable Parameters
Start hour, days ago, color current day, color next day, color, width, style.
Usage
The indicator can be deployed as a standalone trading system or strategy.
It can also be combined with:
- Trading oscillators (MACD, Stochastic, DeMarker,…)
- Trend indicators (Moving Average, Bollinger Bands, ADMI, Parabolic SAR,…)
- Price action methods and techniques
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: breakout
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.
