Options Levels Indicator
Info
The Options Levels Indicator is a Indicator for MetaTrader 4 that this indicator calculates and displays options levels on the chart. Download the CME bulletin:- СМЕ bulletin- ftp://ftp.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Options Levels Indicator
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
This indicator calculates and displays options levels on the chart.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: institutional psychological levels and magnet zones indicator - another powerful indicator for MetaTrader 4 traders.
This indicator calculates and displays options levels on the chart.Also recommended: auto fibonacci retracement levels for mt4 - similar indicator with strong performance on MetaTrader 4.
Download the CME bulletin:
- СМЕ bulletin
- ftp://ftp.cme.com/bulletin/
Input the required parameters and view the options levels on the chart.
The levels are calculated using the following formula:
Call = Strike/1000 + Premium * Multiplier
Put = Strike/1000 - Premium * Multiplier
Indicator Parameters:
Fig.1. Indicator on the Chart
Recommendations:
Utilize the indicator as a trading aid.
You may also like: donchian channel with fibbed levels and alerts - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property strict
#property indicator_chart_window
input double call_1_strike = 1115; // call strike price 1
input double call_1_prem = 7.6; // call premium 1
input double call_1_vol = 471; // call volume 1
input double call_1_oi = 1513; // call open interest 1
input double call_2_strike = 1120; // call strike price 2.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.