Owl smart levels INDICATOR

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Product Description

Owl smart levels INDICATOR

V2.3

Owl smart levels

    

    

5

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:

  1. Candles on the left – determines the number of bars on the left to build a fractal.
  2. Candles on the right – determines the number of bars on the right to build a fractal.
  3. Open price level – assigns the Fibonacci level to determine the entry point to the market.
  4. 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!

         
Owl smart levels

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Reviews 11
bernardo alihadi

92

bernardo alihadi 2023.04.06 15:00  

 

good indicator recomended

M P

122

M P 2023.03.22 14:46  

 

I really like the indicator and I have it as another addition to the existing indicators. I bought it and I’m looking forward to practice :). I rate the materials and documentation for the website very well. Then I’ll write another review…

After 14 days of using the indicator on a live account on Forex, so far, great satisfaction. From what I’ve tried, this belongs to the top :). I’m trying to use it for gold and index as well, so we’ll see:).

dcau93

876

dcau93 2023.03.10 16:12  

 

Sergey answer quickly at my responses and nice even some responses was always in the documents in link. The quality of all informations , detailed, examples of trades, are impressive with all that i just bought smart levels and of course i put it immediately in charts and i am pleased surprise by what i see. Now i will study the documentation and monday will be the beginning ! Later i will come back for more informations Thanks Sergey for all Warmly

 

The Owl Smart Levels Indicator is based on the trading system Owl – Smart Levels. This trading system uses data of two indicators, Full Fractals and Valable ZigZag, which are included into the Owl Smart Levels Indicator in the modified form compared to their classical version.

The Owl Smart Levels Indicator is a full-fledged indicator and it includes all the plots based on the trading system with the same name. The indicator plots levels for opening an order on the chart as soon as an opening signal appears and at the same moment it sends a notification to the trader about the appearance of a new signal. That’s why Owl Smart Levels is very easy to use. Only the necessary plottings are shown:

 

  1. the basic levels, in relation to which the value of order opening price, StopLoss and TakeProfit indexes are calculated, are plotted using the Full Fractals Indicator. Trace levels on the screen are auxiliary, so you can disable their display in the settings depending on your preferences;
  2. the Valable ZigZag Indicator determines the trading direction for the instrument. If the extreme ZigZag is directed upwards, it means that the trend at the moment is ascending, and only buy trades are allowed. If ZigZag is directed downwards, deals are only allowed to sell on a downtrend;
  3. the line sets the level of placing the order Buy Limit or Sell Limit;
  4. the line sets the StopLoss level for the order;
  5. the line sets the TakeProfit level for the order;
  6. the info panel can be enabled or disabled in the indicator settings for convenience.

Convenient information panel

The trading system Owl Smart Levels is based on the Triple Screen method which is recommended in trading by the famous trader Alexander Elder. The principle of triple screen consists in simultaneous observation of charts of different periods. In particular, defining the trading direction – on the higher timeframe, while entering a trade – on the lower one. For user convenience the info panel displays data of the Valable ZigZag Indicator:

 

  1. the trend direction on the main (intermediate) timeframe;
  2. the trend direction on the higher timeframe;
  3. the trend direction on the second higher timeframe;
  4. signal indicators: red – no signal, yellow – there is a signal for placing Buy Limit or Sell Limit orders, green – you can enter the market at the current price;
  5. time before the current candle close;
  6. the color of the trend reversal levels on higher timeframes.

 

Recommended settings and tools

Due to the use of fundamental indicators the trading system Owl works equally well in all markets. You can trade on Forex, Indexes, Stocks, Futures, Commodity, Crypto by slightly adjusting the indicator settings.

There are 5 basic settings in the Owl Smart Levels Indicator:

 

  • Candles on the left – the number of candle to the left of the signal candle, the High of which should be lower than the High of the signal candle to build a fractal Up;
  • Candles on the right – the number of candle to the right of the signal candle, the High of which must be lower than the High of the signal candle to build a fractal Up;
  • Expiration signal – the number of candle during which the signal is active;
  • Open price level – Fibonacci level for placing a pending order for Buy Limit or Sell Limit;
  • TakeProfit level – Fibonacci level for placing a TakeProfit order.

 

Table of recommended settings for each market

 

Depending on trading activity there are recommended settings for the triple screen system:

Conditions for placing orders

A Buy Limit order should be placed when the following conditions are matched:

 

  1. the Valable ZigZag Indicator on all three timeframes shows upward direction (arrows in the information panel show upward direction);
  2. there is a new UP fractal (the dotted line on top of the candle);
  3. IGNORE the signal if the color of the dotted line is blue (the new UP level is lower than the previous one);
  4. there is at least one DOWN fractal on the right side of the chart (dotted line at the bottom of the candle) before the swing point of the Valable ZigZag Indicator.

 

If these conditions coincide, the Owl Smart Levels Indicator plots on the chart the levels for placing a Buy Limit order (OpenPrice – white level, StopLoss – red level, TakeProfit – green level).

Sell Limit order should be placed when the following conditions are matched:

 

  1. the Valable ZigZag Indicator on all three timeframes shows a downward direction (the arrows in the information panel show the downward direction);
  2. there is a new DOWN fractal (the dotted line at the bottom of the candle);
  3. IGNOR the signal if the color of the dotted line is blue (the new level DOWN higher than the previous one);
  4. there is at least one UP fractal on the chart on the right (the dotted line at the top of the candle) before the swing point of the Valable ZigZag Indicator.

 

If these conditions coincide, the Owl Smart Levels Indicator plots on the chart the levels for placing a Sell Limit order (OpenPrice – white level, StopLoss – red level, TakeProfit – green level).

All pending orders should be deleted if they have not been triggered within 24 candle from the signal one (Expiration Bar). If the price has reached the TakeProfit level without catching the pending order, this order should be deleted.

Additional filters:

 

  • a new trade should not be opened if there is already one position in the market for the current symbol;
  • begin trading at 8:00 GMT on Monday; signals received before 8:00 on Monday morning should be ignored;
  • finish trading at 16:00 GMT on Friday; the signals received after 16:00 should be ignored;
  • ignore signals received during the first 10 candle after the trade was closed;
  • if the price is behind the order opening level at the moment the signal appears, or was already there, the signal should be ignored.

 

Closing a position and deleting a pending order

Open positions should be closed earlier in the following cases:

 

  • if at least once the Valable ZigZag Indicator has changed its direction (one of the arrows on the information panel began to show the opposite direction);
  • on Friday, at 16:00 GMT, it is recommended to close all positions at the current price;
  • if a new level Down of the Full Fractals Indicator appeared above the opening price level of a trade, in case of a BUY signal, the BUY LIMIT order should be deleted. The same applies to the SELL LIMIT order: if there is a new level Up of the Full Fractals Indicator below the opening price, the order should be deleted;
  • if new levels appear on the chart it is necessary to delete the pending order and set a new one according to the new levels.

Recommendation

When the Fibonacci level reaches 100% (Signal Fractal level) you can move your position to Breakeven (move the StopLoss level to the order opening level +1 point to compensate of the broker’s commission).

Capital management

The trading system has a very high profitability factor (TakeProfit / StopLoss = 3.24), so even making 30% of profitable trades you will stay in the profit.

The order volume should be calculated in such a way that the maximum loss does not exceed 1.5% of your deposit.

If there is a loss on the current trading instrument then the risk of the next order should be increased by 0.25%.

Once a trade has been closed with a profit, the next trade should be opened with an initial risk of 1.5%. If you receive a large series of losing trades you should not exceed the risk per one trade of 3%.

If a trade was closed as breakeven, the next trade should be opened with the same risk as the previous one.

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