Murrey Math Line X

Murrey Math Line X MetaTrader indicator — a pivot line indicator that will definitely help every trader who knows how to trade with support, resistance, and pivot lines. It displays 8 primary lines (with 5 more additional ones) on the main chart, helping you to find the best points to sell, buy, and exit your positions. The indicator can issue alerts when a candle closes after breaking any of the pivot lines. You can download this indicator for MT4 and MT5 platform.

Input parameters

• Period (default = 64) — a period in bars or in other upper timeframe periods (set via the UpperTimeFrame input), on which the lines will be calculated. The lower the number the more up-to-date but less accurate calculations.
• UpperTimeframe (default = PERIOD_D1) — a basic period; if different from the current timeframe, the indicator will use Period × UpperTimeframe periods to calculate its lines. Otherwise, the indicator will use Period of the current chart bars to calculate its lines.
• StepBack (default = 0) — a shift back for calculating the lines (in the current bars or in the number of UpperTimeframe periods).
• LabelSide (default = Left) — the side of the screen to display the line labels. If you select Right, make sure, the chart is shifted to the left; otherwise, you won't be able to see the labels.
• [N]/8 Color — colors for the indicator lines.
• [N]/8 Width — the indicator lines' width.
• MarkColor (default = clrBlue) — the color for the last calculated bar's arrow.
• MarkNumber (default = 217) — the arrow code for the last calculated bar's arrow.
• FontFace (default = "Verdana") — the font face to use for display.
• FontSize (default = 10) — the font size to use for display.
• ObjectPrefix (default = "MML-") — prefix for chart objects for compatibility with other indicators.
• TriggerCandle (default = Previous) — the candle to issue alerts on: Previous — the most recently closed candle or Current — the yet unfinished candle.
• NativeAlerts (default = false) — if true, a native MetaTrader popup alert will be used when a signal appears. Not present in cTrader.
• EmailAlerts (default = false) — if true, an email message will be sent when a signal appears. Email should be properly configured in MetaTrader via Tools->Options->Email.
• NotificationAlerts (default = false) — if true, an email message will be sent when a signal appears. Notifications should be properly configured in MetaTrader via Tools->Options->Notifications. Not present in cTrader.

Example and strategy

It is easy to use Murrey Math Line X. 0/8P and 8/8P lines are the ultimate resistance and support lines — they are very hard to break. 1/8P and 7/8P lines are weak support and resistance lines, but if the price stops near them, it will likely reverse and change direction. 2/8P and 6/8P lines are strong reverse points. 3/8P and 5/8P are the bottom and the top of the average trading range respectively; it is very likely that the price will either pierce this range fast or will remain inside it for a long time. 4/8P is a major support and resistance line; you can sell or buy when the price crosses it for a high-probability trade. The blue arrow marks the final calculated bar.