The Owl Smart Levels Indicator is a complete trading system within the one indicator that includes such popular market analysis tools as Bill Williams’ advanced fractals, Valable ZigZag which builds the correct wave structure of the market, and Fibonacci levels which mark the exact levels of entry into the market and places to take profits.
For a detailed description of the trading system, see the article Owl Trend Strategy – Smart Levels.
The power is in simplicity!
The Owl Smart Levels trading system is very easy to use, so it is suitable for both professionals and those who are just starting to study the market and choose a trading strategy for themselves. There are no secret formulas and calculation methods hidden to the eye in the strategy and indicator, all strategy indicators are publicly available. Owl Smart Levels allows you to quickly see the signal to enter a trade, highlights the levels for placing an order and sends you a notification about the signal that has appeared.
The advantages are obvious:
- Clearly displays the trend direction on the main and higher timeframes.
- Signals the appearance of a signal for the instrument.
- Marks the levels of order opening, stop setting and profit fixing.
Nothing superfluous, just the necessary plottings!
ZigZag shows the direction of the global trend, and, therefore, the direction of trade. Short lines of market reversal points make it clear at what levels to build the Fibonacci grid. And the levels themselves at which you should open a position and set StopLoss and TakeProfit. That’s all we need to see on the chart!
Have a look at the weekly trade reviews by clicking on the link >>
There are only 4 most important settings you need to know about:
- Candles on the left – determines the number of bars on the left to build a fractal.
- Candles on the right – determines the number of bars on the right to build a fractal.
- Open price level – assigns the Fibonacci level to determine the entry point to the market.
- TakeProfit level – assigns the Fibonacci level for setting TakeProfit.
Most indicators only show the history of what has already happened in the market, and Owl Smart Levels recommends following the global trend and suggests entering on local corrections.
I’m Sergei Ermolov, follow me for updates!