Trade By Levels indicator for Metatrader 5– Free – [TFlab]

The Trade By Levels indicator MT5 is a professional-grade technical analysis solution built for the MetaTrader 5 platform. It is designed to automatically create adaptive price channels, assess the current trading range, and generate buy and sell signals based on structured market conditions.In addition to signal generation, this tool improves execution accuracy by displaying precise entry points, along with clearly defined stop loss and take profit levels directly on the chart. It is especially suitable for traders who utilize price action techniques and channel-driven analysis.

You can download it from this link:
https://cdn.tradingfinder.com/file/5...5-by-tflab.zip

You can also access the MetaTrader 4 version of this Indicator through this page:
https://www.metalsmine.com/thread/13...r-metatrader-4

For instructions on how to install:
https://www.forexfactory.com/thread/...-in-metatrader


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Indicator Specifications

The Trade By Levels indicator can be defined according to its functionality and trading application:

1. Indicator Categories:
   1. Price Action MT5 Indicators
   2. Signal and Forecast Indicators
   3. Channel and Band-Based Indicators

   
   

2. Platform:
   1. MetaTrader 5 (MT5)

   
   

3. Skill Level:
   1. Beginner to intermediate traders

   
   

4. Indicator Type:
   1. Breakout Detection
   2. Reversal Identification

   
   

5. Timeframe Support:
   1. Multi-timeframe compatibility

   
   

6. Trading Styles:
   1. Swing Trading
   2. Intraday Trading
   3. Scalping

   
   

7. Supported Markets:
   1. Forex
   2. Cryptocurrencies
   3. Stocks and Equities
   4. Commodities
   5. Indices
      

   
   

Core Functionality

This indicator provides three essential types of trading signals, enabling traders to respond effectively to different market scenarios:

1. Breakout Signal:
   1. Triggered when price moves beyond the channel boundaries
   2. Indicates the initiation of a new directional trend

   
   

2. Reversal Signal:
   1. Identifies potential turning points in price movement
   2. Suggests a shift in the current market direction

   
   

3. Retracement Signal:
   1. Detects temporary pullbacks within an established trend
   2. Offers opportunities for optimized trade entries
      

   
   

Buy Signal Scenario

On a 4-hour USD/CHF chart, the indicator automatically plots a dynamic channel and identifies conditions suitable for a buy retracement opportunity.

1. The overall market trend is bullish
2. Price temporarily pulls back within the channel
3. A buy signal is generated
4. Entry levels are clearly marked on the chart
5. Stop loss and take profit levels are predefined

This setup allows traders to align with the prevailing trend while maintaining disciplined risk management.


Sell Signal Scenario

On a 30-minute Ethereum (ETH) chart, the indicator highlights a sell retracement setup within a bearish market structure.

1. A descending price channel is automatically formed
2. Price retraces upward against the main trend
3. A sell signal is triggered
4. Entry zones are visually indicated
5. Risk management levels are provided

This approach enables traders to trade in the direction of the dominant trend while taking advantage of short-term corrections.


Indicator Settings

The Trade By Levels indicator includes a range of customizable parameters to suit different trading strategies:

1. Time Frame: Defines the operating timeframe
2. Interval: Determines the candle range used for calculations
3. Price Source: Specifies the selected price type
4. Shift: Adjusts the horizontal positioning of indicator elements
5. Scaling Coefficient Level 1: Controls primary channel sensitivity
6. Scaling Coefficient Level 2: Adjusts secondary channel expansion
7. Extend: Projects channel lines into future price areas
8. Signal Period: Sets the analysis period for signal generation
   
   

Alert Settings

1. ALERT: Enables or disables alerts
2. EMAIL: Activates email notifications
3. NOTIFICATION: Enables push notifications
4. MESSAGE_TIMEOUT: Sets the interval between alerts
5. MESSAGE_SUBJECT: Defines the alert message title
   
   

Conclusion

The Trade By Levels indicator enhances trading efficiency by combining automated channel construction with advanced signal generation. It effectively detects breakout, reversal, and retracement opportunities while providing clearly defined entry, stop loss, and take profit levels.
Its flexibility across multiple markets and timeframes makes it a valuable tool for traders seeking a systematic and rule-based trading approach.