Quarters Theory Indicator for MT4
Overview
The Quarters Theory Indicator is a powerful tool designed for both forex and stock traders. It automatically detects market cycles and plots solid support and resistance levels on MT4 charts. These levels play a critical role in determining market sentiments, supply/demand dynamics, and potential profit zones.
Key Features
- Support and Resistance Levels: The indicator identifies key levels that act as barriers for price movement.
- Buy-Sell Zones: It helps assess optimal entry points for trades.
- Stop-Loss and Profit Targets: By recognizing these levels, traders can set effective stop-loss and take-profit orders.
Strategy Insights
The Quarters Theory Indicator divides the price range into three types of horizontal levels:
- Major Levels (White Lines):
- These are robust support and resistance levels.
- During bullish trends, resistance levels often transform into support.
- Breakouts above resistance offer buying opportunities.
- Half Levels (Yellow Lines):
- These are intermediate levels between major levels.
- They provide additional context for price action.
- Look for price reactions around these levels.
- Quarter Levels (Green Lines):
- These represent further subdivisions of the yellow lines.
- They pinpoint precise support and resistance areas.
- Traders can anticipate reversals or breakouts near these levels.
Trading Example (EUR/USD, H1 Chart)
- Bullish Breakout:
- Observe the price breaking above a major resistance level (white line).
- This signals a buying opportunity.
- The Quarters Theory Indicator confirms the breakout.
- Price Retracement:
- After the breakout, the price retraces slightly.
- Look for support near the yellow half levels.
- These act as potential buy zones.
- Profit Targets:
- As the price continues upward, consider taking profits near quarter levels (green lines).
- These levels often attract price reactions.
Recommended Settings
- Timeframe: H1 (1-hour chart)
- Currency Pair: EUR/USD
How to Use
- Install the Quarters Theory Indicator on your MT4 platform.
- Refer to the plotted levels for trading decisions.
- Combine with other technical analysis tools for a comprehensive strategy.
Download and Connect
- Download the EA: https://mahakaryadigital.com/product/quarters-theory-indicator-mt4/
- Join Our Telegram: https://mahakaryadigital.com
Remember, the Quarters Theory Indicator streamlines your trading process by automating support/resistance identification.
