Dynamic Levels

The indicator shows shifts of maximum volumes in the given time period.

*Note! When installed, the indicator has default settings and these settings are not suitable for all instruments and time frames, so the indicator needs to be configured.

In order to add and set this indicator, open Indicator Settings.

*Note! The indicator calculates based on the data loaded on the chart. That is, if you uploadfive days to the chart and select a month for the indicator period, it will not calculate the data for the month, but only for five days.

Filters

Days - thenumber of days loaded for the indicator.

Type ‑ a type of calculated value of the maximum level. Six display options are available:

• Bid
• Ask
• Delta
• Volume
• Ticks
• Time

Period ‑ a calculation period. Five display options are available:

• Hourly
• Daily
• Weekly
• Monthly
• All period

Filter ‑ the minimum value of the calculated parameter at which the indicator takes data into account.

Other

Show Volume ‑ a possibility to enable/disable the display of numerical values at the maximum level.

Volume Visualization Type – two display options are available:

• At start ‑ the amount will show the parameter value at the time of a level shift.
• Accumulated ‑ the amount is accumulated by the given price from the beginning of the time interval chosen.

Alerts

Approximation Alert–you can set up an alert before it approaches the price level.

Approximation Filter – the distance between the price and the maximum level to configure an alert.

POC level change alert

POC touch alert

VAL touch alert

VAH touch alert

Alert File – select an alert file (you can set your own sound, the details are here: Sounds Settings)

Font Color – the text color of notifications that are displayed in the Alerts window when an alert is triggered.

BackGround – the background of the Alerts window where notifications will be displayed when an alert is triggered.

Drawing

Dynamic levels – a color setting of the maximum level line.

Show zero values. 

Show value – display the indicator value on the price scale.

Scale – if this option is enabled, the scale will be automatically calculated based on the minimum and maximum values of the indicator in order for the indicator to fit on the chart.

Color

Visual type - a visual setting of the indicator display on the chart:

• Line
• Histogram
• Hash
• Block
• Cross
• Square
• Dots
• Up arrow
• Down arrow
• Axis label
• Hide

Line style - set the type of the line display:

• Dot
• Solid
• Dash
• Dash - dot
• Dash - dot - dot

Width - set the thickness of the indicator line.

Value Area – a color setting of the Value Area background.

Show

 Scale

 Color

Value Area 1st Line ‑ a color setting of the Value Area’s first line (the settings are similar to the Dynamic Levels drawing settings).

Value Area 2nd Line ‑ a color setting of the Value Area’s second line (the settings are similar to the Dynamic Levels drawing settings).

Also read the following related articles:

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HOW IS DYNAMIC LEVELS USEFUL FOR INTRADAY TRADING?

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HOW TO ANALYZE THE MARKET AND DEVELOP A TRADING PLAN IN A COUPLE OF MINUTES

IDENTIFYING SUPPORT AND RESISTANCE AREAS: 6 WORKING METHODS FOR ANY MARKET

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