Hard Levels is a free mt4 (Metatrader 4) indicator that can be used for both trade entry and exit, or as an additional trend confirmation filter for other strategies and systems.
The indicator pops up in the main MT4 window and displays all price levels on the chart.
Key Takeaways:
- The trend is considered strongly bullish as soon as the candlestick trades above all hard levels (blue lines).
- The trend is considered strongly bearish as soon as the candlestick trades below all hard levels (blue lines).
The indicator works equally well on all currency pairs (majors, minors, and exotic) and shows promising results if used correctly.
Free Download
Download the “HardLevels.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The picture below shows the Hard Levels MT4 indicator in action on the activity chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Hard Levels Forex indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Price levels
Does the indicator repaint? No.
Forex Hard Levels + Awesome Oscillator MT4 Day Trading Strategy
Introduction
This day trading strategy combines the precision of the Hard Levels Forex Indicator (MT4) with the momentum reading of the Awesome MetaTrader 4 Forex Indicator.
The Hard Levels indicator plots strong support and resistance zones.
When price trades above all hard levels, the trend is bullish. When price trades below all hard levels, the trend is bearish.
The Awesome indicator is a histogram that shows momentum. Readings above zero favor buys. Readings below zero favor sells.
This setup is built for intraday traders who want clear entry and exit rules.
It works best on 15-minute and 30-minute charts.
You can also use it on 5-minute charts if you have quick execution and strict risk control.
The strategy is simple to follow and suits traders who like trend-following entries with momentum confirmation.
General rules
Trade only during active market hours for the pair you use.
For EUR/USD and GBP/USD, prefer the London and early New York sessions.
Avoid trading during major news spikes. Use a fixed risk per trade and do not add to losing positions.
Buy Entry Rules
- Price must be trading above all visible hard levels from the Hard Levels indicator.
- The Awesome histogram must be above zero and preferably rising for at least two bars.
- Enter on a bullish candle close above the most recent minor resistance level or pivot created by the hard levels.
- Stop loss: place below the nearest lower hard level or below the last swing low, whichever is wider. Keep risk consistent (for example, 0.5–1% of account per trade).
- Take profit: initial target at 1.5x risk (risk:reward 1:1.5).
- Move stop to breakeven after half the target is reached. Consider trailing to the next hard level for extended moves.
Sell Entry Rules
- Price must be trading below all visible hard levels from the Hard Levels indicator.
- The Awesome histogram must be below zero and preferably falling for at least two bars.
- Enter on a bearish candle close below the most recent minor support level or pivot created by the hard levels.
- Stop loss: place above the nearest upper hard level or above the last swing high, whichever is wider. Keep risk consistent.
- Take profit: initial target at 1.5x risk. Move stop to breakeven after half the target is reached.
- Trail stop to the next hard level for larger trends.
Advantages
- Clear trend bias from Hard Levels makes it easy to avoid countertrend trades.
- Momentum confirmation from Awesome reduces false breakouts.
- Works well on short time frames for quick intraday setups.
- Simple rules help with discipline and trade journaling.
Drawbacks
- Sideways markets can produce whipsaws around hard levels.
- News events can trigger false signals and wide spreads.
- Requires close monitoring on lower time frames, which may not suit all traders.
- Risk management must be strict because multiple small losses can erode gains.
Example Case Study 1 — EUR/USD 30-minute (Bullish)
Price had been trading above the hard levels for several candles, establishing a clear bullish bias.
The Awesome histogram climbed above zero and produced two rising bars.
A bullish candle closed above a recent minor resistance level marked by the Hard Levels indicator.
Entry was taken at the close of that candle.
Stop loss was set just below the nearest hard level. The first target at 1.5x risk was reached within three hours.
The trade was left to run after moving stop to breakeven and trailing to the next hard level.
The final result was a 2.6x risk winner after the trend extended.
Example Case Study 2 — GBP/USD 15-minute (Bearish)
Price dropped below all hard levels, confirming a bearish trend.
The Awesome histogram turned negative and made two consecutive falling bars.
A strong bearish candle closed below a small support pivot shown by the Hard Levels indicator.
Entry was taken at candle close.
Stop loss was placed above the nearest hard level. The market moved quickly and hit the 1.5x risk target within two hours.
The trailing stop captured additional downside to bring the trade to a 3x risk outcome.
No news events interfered, and the setup worked cleanly.
Strategy Tips
- Use a demo account to practice entries and stops until you feel comfortable.
- Prefer pairs with tight spreads during your trading session.
- Keep trade size small enough to survive a string of losses.
- Review trades each day and log the reason for entry and the outcome.
- If the Awesome is weak but the price is above hard levels, skip the trade. Wait for clearer momentum.
