The Brooky Garnish Price Levels Metatrader 4 indicator is an amazing technical tool that is used for the prediction of time and price analysis.
The indicator has been known to show a success rate of over 85%.
The indicator is built on the concept that tops and bottoms in the Forex market are mathematically correlated in both time and price.
Meanwhile, this indicator is heavily weighted towards support and resistance.
As such, breakouts, support and resistance are of high interest.
Key Takeaways
- In a bid toget a better view of how the market is fairing, more attention should be paid to how price reacts on the colored levels created by the Brooky Garnish Levels Indicator.
- Normally, the indicator’s default setting tends to allow buy/sell orders entries upon having price show significant support/resistance around Brooky Garnish Levels Indicator lines.
- The lines consist of lower 1, lower 2, lower 3, upper 1, upper 2, upper 3, breakout 1 and breakout When a bullish trend bounces off an upper level, it is usually a signal of a probable strong bearish reversal, while a bearish trend bouncing off an upper level will yield a mild reversal signal. The opposite analogy holds for a bearish trend hitting off a lower level.
Feel free to explore the Brooky Garnish Price Levels indicator’s different parameters and settings to create your own personalized indicator setup.
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Download the “brooky-garnish-levels-indicator.ex4” Metatrader 4 indicator
Brooky Garnish Price Levels Forex Indicator Chart (AUD/CAD H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Brooky Garnish Price Levels MT4 Indicator
Buy Signal: Go long when downward price movement bounces off the lower levels(s) of the Brooky Garnish Levels Indicator. Plus, when price shows support on the middle or lower outer lines of the Bollinger Bands MT4 indicator.
When the dodger blue line of the Relative Strength Index aligns above the 50.00 horizontal level, it is a buy signal confirmation.
Sell Signal: Go short when upward price movement bounces off the upper levels(s) of the Brooky Garnish Levels Indicator. Plus, when price shows resistance on the middle or upper outer lines of the Bollinger Bands MT4 indicator.
When the dodger blue line of the Relative Strength Index aligns below the 50.00 horizontal level, it is a sell signal confirmation.
Exit buy trade: Close all buy orders if while a bullish trend is running, price shows significant resistance on the upper level(s) of the Brooky Garnish Levels indicator, alongside the middle or upper outer Bollinger Bands lines.
Else, the dodger blue line of the RSI falls below 50.00 the horizontal level.
Exit sell trade: Close all sell orders if while a bearish trend is running, price shows significant support on the lower level(s) of the Brooky Garnish Levels Indicator, alongside the middle or lower outer Bollinger Bands lines.
Else, the dodger blue line of the RSI surges above the 50.00 horizontal level.
Tips: The Brooky Garnish Levels MT4 indicator forecasts the direction price will go based on its preconfigured levels derived from the Gann Angles.
The addition of another technical indicator adds validation to our signals. See our example above with the RSI indicator.
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Download the “brooky-garnish-levels-indicator.ex4” MT4 indicator
Adjustable Parameters
Sensitivity Percent, use auto fit, fit ratio, horizontal mode, ratio 1, ratio 2, ratio 3, ratio 4, ratio 5, ratio 6.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Support/Resistance
Installation
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.