"Peace with the Monster" Indicator - Mastering Key Market Levels

Slogan: "Tame support and resistance levels with 'Peace with the Monster' and profit from market volatility!"

Indicator Overview

The "Peace with the monster" indicator is a powerful tool for identifying support and resistance levels based on price fractals. It analyzes historical price action to detect and plot key market levels.

How It Works

Fractal Detection: Identifies high and low fractal points on the chart.

Level Drawing: Plots support/resistance levels based on these fractals.

Validation: Highlights levels with multiple price reactions using thicker lines.

Trendlines: Draws trendlines between consecutive fractals.

Key Settings

IndicatorNumber: Unique identifier (for multiple instances)

TrendUpColor: Uptrend line color (default: Blue)

TrendDownColor: Downtrend line color (default: Red)

LevelColor: Support/resistance level color (default: DarkGreen)

FractalBarsOnEachSide: Bars needed to confirm a fractal (default: 7)

LevelActuality: Maximum level validity period (default: 200 bars)

Applications

Identifying key support/resistance levels

Detecting market trends

Finding optimal entry/exit points

Setting profit targets and stop losses

Important Notes

More reliable on higher timeframes

Thicker lines indicate stronger levels

Best used in combination with other indicators

Installation

Copy the .mq4 file to your MetaTrader4 MQL4 Indicators folder

Restart MT4 or refresh the Navigator window

Drag and drop the indicator onto your chart

Adjust parameters according to your trading style

This indicator provides a visual representation of market structure, helping traders make more informed decisions by clearly showing where price has historically found support or resistance. The automatic adjustment of line thickness based on level strength makes it particularly useful for identifying the most significant market levels.