Murrey Math Time Frame Indicator


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Murrey Math Time Frame Indicator

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The MQL4 language that MetaTrader4 uses enables coders to create trading indicators for markets. One such indicator is the Murrey Math Time Frame indicator, which lets you analyze the market with the right timeframe

Price levels are very important for traders to follow as they help predict where the market is headed and offer potential buy, sell or hold opportunities.

Murrey based his mathematical principles on the Gann theory by W.D. Gann. By doing so, he was able to develop a geometry system that can describe the movements of the market according to time

Murray’s strategy is designed to have the market move in 8ths, with different multipliers from 0/8 to 8/8. The way in which you time your entry and exit points is based on retracements at these intervals.

The most important levels to look at are 0/8, 4/8 and 8/8. There are nine main pivot points in the chart from 0 out of 8 to 8 out of 8 and they’re divided into steps of 1/8. In addition, there are four pivot points that show overbought zones.

It’s important to understand the meaning of these lines if you want to trade using the Murrey Math Time Frame indicator on MetaTrader 4. The meanings are as follows:

  • +2/8 – Extreme Overshoot
  • +1/8  – Overshoot
  • 8/8 – Ultimate Resistance
  • 7/8 – Weak, Stall, & Reverse
  • 6/8 – Pivot, Reverse – Major
  • 5/8 – Top Of Trading Range
  • 4/8 – Major Support/ Resistance
  • 3/8 – Bottom Of Trading Range
  • 2/8 – Pivot, Reverse – Major
  • 1/8 – Weak, Stall, & Reverse
  • 0/8 – Ultimate Resistance
  • -1/8 – Overshoot
  • -2/8 – Extreme Overshoot

Conclusion

The Murrey Math Time Frame indicator can be really useful when trading both by itself and in combination with other indicators.

It can help time your entry and exit positions to maximize profitability. Markets work in cycles which are divided up into eight stages.

There are different support and resistance levels for each stage of the cycle, with the goal being to time trades to make sure you have an exit plan for every position at any time.

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