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The Level trade 123 Forex Indicator for MT4 is a flexible technical forex indicator that offers market reversal points as well as bullish and bearish trade entrance signals.
The indicator, which is based on forex fractals, automatically plots trendlines as well as important levels of support and resistance.
It may appear a little complicated at first, but it is appropriate for both experienced and inexperienced forex traders.
In addition to being useful in the Daily, Weekly, and Monthly mt4 price charts, it performs well in all intraday forex periods.
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A closer look at the Level Trading 123 Forex Indicator
On charts, that forex indicator displays two different sorts of indicator lines.
An upward trend line in the short term is shown by the color blue. Similar to that, a red trend line represents short-term downward movement.
Additionally, the cross symbol is used to indicate the end of each trend momentum; red indicates the end of a bearish trend and blue indicates the end of a bullish chart trend. One should anticipate a price reversal once it is displayed on the currency chart.
The support and resistance lines, which are depicted as dotted and solid horizontal lines in a grey tone, are a crucial component of the Level Trading 123 Forex Indicator. The price reacting at these levels and a cross mark being set up nearby are the greatest entry signals.
Buy Entry
Long trade signal rules and explanation
Start by identifying the most recent red cross mark on the chart. In the ideal situation, the cross sign is parallel to the support line.
A forex trader can now seize the chance for a long trade entrance. Bullish should be applied to the present trend’s direction.
Put your stop loss (SL) a few pip(s) under the support level.
A strong risk-reward ratio will help you secure the position.
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 | No Minimum Deposit ECN Acount No Commission | |
 | Min Deposit of 20$ |
Sell Entry
Rules and explanation for short trading signals
Find the most recent blue cross mark on the chart to get started. In the ideal situation, that cross sign is parallel to the wall of resistance.
A forex trader can now seize the chance to enter a short position. The current trend should be viewed as having a bearish orientation.
Stop loss (SL) should be placed a few pip’s above the resistance level.
A strong risk-reward ratio will help you secure the position.
Settings
In MetaTrader 4 (MT4), configure the Level Trading 123 forex indicator.
Installer’s Manual
Download the level_trading_123.ex4 or level_trading_123.mq4 indicator files from the Level Trading 123 Forex Trading Strategy.zip download at the bottom of this post, unzip it, and then paste them into the MQL4 folder of the MetaTrader 4 trading platform.
The top menu options, which are as follows, can be used to reach this folder:
(Paste here) File > Open Data Folder > MQL4 > Indicators.
Go now to your MT4 terminal’s left side. Locate the gauge name in the Navigator and choose Attach to Chart from the context menu that appears.
Bottom Line
You should definitely include the Level Trading 123 indicator in your collection of trading tools. Your chances of success will almost certainly increase with a decent forex indicator.
But always remember to set reasonable goals. Like every other technical analysis tool, does not always produce correct indications. As a result, this forex indicator occasionally generates erroneous signals. The state of the market will have a huge impact on how it performs.
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