Bank level indicator MT4 | MT5

The Bank level indicator is a volume-tracking indicator for metatrader 4 and 5. It detects trade movements that have a high volume or value as they are generally executed by institutional investors such as banks. The indicator displays display lines that indicate when to enter and exit a position.

Furthermore, the lines displayed by the indicator work as support and resistance levels and are useful in detecting the highest and lowest prices of a period. Also, these lines are efficient for trend-following traders. Nevertheless, the indicator is quite useful for short-term trading such as intra-day trading, as traders relying on scalping strategies find it most useful.

The Bank-level indicator could be used independently from other indicators or with other indicators used for confirmation and verification. To summarize, the bank-level indicator detects banks' entry and exit points which helps traders follow the bank strategy as it is easier and more reliable. The indicator is most useful for newbie traders who want to reduce the risk of loss.

Trading using the bank-level indicator in Metatrader is quite easy. The line is composed of 2 parts, one part on the left represents the current-day price level whereas the other part on the right represents the next-day price level. If the price reaches the line and then stops without breaking through it, it is an indication that the trend will reverse.

Therefore, traders should look out for reversal patterns such as doji, hammers, head, and shoulders, or reversed head and shoulder to confirm the output. However, if the price reaches the line and breaks through it, it’s an indication that the trend will reverse. Therefore, it is always recommended to use another technical indicator in MT4 or MT5 to confirm the observed pattern. Furthermore, if the trend reversal is confirmed, the trader should exit the market or go short on the asset if the upcoming trend is a downtrend and should go long if the upcoming trend is an uptrend.

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