Retracement Indicator

The Retracement indicator shows the current and historical high, low and mid values. Optionally, it can also display major retracement levels. All these levels together form the significant levels of support and resistance. Therefore, it is essential to know them for every kind of trader.

Levels

Main Features

Four optional retracement levels
Alert notifications for indicator lines
Custom session time
Works on every timeframe (M1, M5, M15, M30, H1, H4, D1, W1, MN)
The indicator shows the actual levels of High, Low, Mid, and selected retracements
Ready for backtesting
Customizable parameters (Colors, Line thickness, Visibility...)
Very fast calculation
The indicator is non-repainting
Available for MT4 and MT5

Input Parameters

Session_Mode - Allows choosing between Daily, Weekly, Monthly and Custom Session modes.
Session_Start_Hour - Allows setting start hour if the session time mode is selected. In another case, the parameter is ignored.
Session_Start_Minute - Allows setting start minute if the session time mode is selected. In another case, the parameter is ignored.
Session_End_Hour - Allows setting end hour if the session time mode is selected. In another case, the parameter is ignored.
Session_End_Minute - Allows setting end minute if the session time mode is set. In another case, the parameter is ignored.
Sessions_Back - Allows setting the number of sessions to display. When the value is zero, all sessions are displayed.
Text_Size - Text size of the indicator levels.
Level_1_Value - Allows setting the retracement 1 value.
Level_2_Value - Allows setting the retracement 2 value.
Level_3_Value - Allows setting the retracement 3 value.
Level_4_Value - Allows setting the retracement 4 value.
Visibility_Line_Description - Allows enabling or disabling displaying of the description of lines
Visibility_High - Allows enabling or disabling displaying of the high line
Visibility_Low - Allows enabling or disabling displaying of the low line
Visibility_Mid - Allows enabling or disabling displaying of the midpoint line
Visibility_Level_1 - Allows enabling or disabling displaying of the retracement level 1 line
Visibility_Level_2 - Allows enabling or disabling displaying of the retracement level 2 line
Visibility_Level_3 - Allows enabling or disabling displaying of the retracement level 3 line
Visibility_Level_2 - Allows enabling or disabling displaying of the retracement level 4 line
Color_High - Color of the high line
Color_Low - Color of the low line
Color_Mid - Color of the midpoint line
Color_Level_1 - Color of the retracement level 1 line
Color_Level_2 - Color of the retracement level 2 line
Color_Level_3 - Color of the retracement level 3 line
Color_Level_4 - Color of the retracement level 4 line
Alert - Allows enabling or disabling alert notifications when the market touches one of the indicator lines
Alert_Sound - Allows choosing the alert sound