A while back I was looking for an indicator that produced levels using percentages. Didn't really find what I was looking for, so I wrote one. I thought that there was a way to use certain % based levels as S/R. Never really got around to doing a lot of research on it. They do seem to get some respect, but then again, all levels do at some point or another. I do use these levels from time to time for SL/TP placement. The thingy plots three levels above and below the market using yesterdays close. You can adjust the percentages used. It also plots yesterdays close and last weeks close for reference. Anyway, though it may be of use to someone. Have a good weekend.
Percentage_SR.mq4 7 KB | 51 downloads
Look Sharp/Trade Tight