Level Sensor is a free mt4 (Metatrader 4) Forex indicator that can be used for both trade entries and exits or as an additional signal indicator that works closely together with your own favorite trading strategy or system.
The indicator appears in the main MT4 chart window in the form of an orange colored box.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “Level Sensor.mq4” indicator for MT4
Indicator Chart (EUR/USD H4)
The picture below shows the Level Sensor mt4 indicator in action on the trading chart.
Trading Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Level Sensor 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: Signal
Does the indicator repaint? No.
Level Sensor + Super Forex Trend Reversal Day Trading Strategy for MT4
This MT4 day trading strategy combines two highly effective tools: the Level Sensor Forex Indicator and the Super Forex Trend Reversal Indicator.
Together, they form a simple yet powerful approach to capture strong intraday moves and early reversals.
The Level Sensor helps identify the dominant trend direction, while the Super Forex Trend Reversal Indicator pinpoints precise turning points where momentum shifts in your favor.
This method works best on the M15 and H1 time frames and is suitable for day traders who prefer a clean setup with visual confirmation.
It can be applied to most major currency pairs such as GBP/JPY, EUR/USD, and AUD/NZD.
The strategy aims to enter trades at moments of low risk and high probability when the overall market direction aligns with a confirmed reversal signal.
Buy Entry Rules
- Price is trading above the upper orange Level Sensor line, confirming a bullish market condition.
- A green histogram bar appears on the Super Forex Trend Reversal Indicator, indicating an upward reversal signal.
- Enter a buy trade at the open of the next candle.
- Place a stop loss 25 pips below the most recent swing low or below the lower Level Sensor line.
- Set take profit at 40–60 pips, depending on volatility or when an orange bar appears signaling a potential trend shift.
Sell Entry Rules
- Price is trading below the lower orange Level Sensor line, confirming a bearish market condition.
- An orange histogram bar appears on the Super Forex Trend Reversal Indicator, indicating a bearish reversal.
- Enter a sell trade at the open of the next candle.
- Place a stop loss 25 pips above the most recent swing high or above the upper Level Sensor line.
- Set take profit at 40–60 pips or when a green bar forms showing possible upside momentum.
Advantages
- Combines trend direction with reversal timing for more accurate entries.
- Works across multiple time frames and pairs.
- Visually simple setup, easy for beginners to follow.
- Reduces false entries by aligning two confirming indicators.
- Provides clear stop loss and exit management.
Drawbacks
- It may generate fewer signals in ranging markets.
- Performance depends on selecting pairs with good volatility.
- Reversal signals can appear late during strong trends.
- Requires disciplined trade management for best results.
Case Study 1 – EUR/JPY M30 Chart
In a Tuesday session, EUR/JPY traded steadily above the upper orange Level Sensor line, confirming a bullish trend.
A green histogram bar then appeared on the Super Forex Trend Reversal Indicator around 161.20.
A buy entry at 161.25 with a stop loss at 160.95 and a take profit at 161.85 resulted in a 60-pip gain within four hours as momentum continued to rise before an orange reversal bar appeared.
Case Study 2 – AUD/USD H1 Chart
Later in the week, AUD/USD was trending below the lower Level Sensor line near 0.6620.
The Super Forex Trend Reversal Indicator printed an orange bar confirming a downward reversal.
A sell position opened at 0.6618 with a 25-pip stop loss and a 50-pip take profit, closed successfully at 0.6568 before the next green bar hinted at a potential rebound.
The clean alignment between the two indicators delivered an efficient short setup with minimal drawdown.
Strategy Tips
- For higher accuracy, trade only when both indicators align clearly and avoid entries during flat market conditions.
- Stick to major currency pairs with good volatility like GBP/JPY, EUR/JPY, or AUD/USD.
- Adjust stop loss and take profit levels based on the pair’s average daily range.
- For more confirmation, you can also observe price action near support and resistance zones before entry.
- Keep your risk per trade below 2% of your account balance to ensure consistency over time.
This strategy provides a structured and reliable approach for day traders seeking to trade intraday trends and reversals with clarity and confidence on the MT4 platform.
