Bank Level Indicator
The Bank Level Indicator for MT4 draws key bank levels on the MT4 chart.
CATEGORIES: MT4, LEVELS, INFORMATIONAL
Updated on: 16.12.2023
In the forex market, all financial institutions and market makers trade and place their orders strategically. These entities place the highest volume or lot size, thus greatly influencing the movement of the price in the forex market. The largest forces among these financial institutions are banks such as Citigroup, Deutsche Bank, Bank of America, HSBC, and Barclays Bank. Their others are placed at key psychological levels, also called the bank levels. Thus, these levels are always watched out for by traders who love to trade with these big players in the forex market. These levels can be monitored by using the Bank Levels Indicator.
The foundation Bank Level Indicator
The bank Level Indicator for MT4 draws key levels on the MT4 chart. These levels can be all-time highs or low, rounded numbers or places where the price stalls on many occasions.
Traders closely watch out when the market price reaches these levels to see if there will be a price reversal or continuation.
The diagram below shows how the Bank Level Indicator is displayed on the MT4 chart.
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