BLACK LEVELS: ONLY FOR BLACK MAGIC LOVERS!
Hi folks, as some people asked me about this, I share the Black Levels. I use them in any trading system and swapped years ago from normal pivots, support and resistance, SMC levels, FVGs, etc, to... this wonderful edge. I am still working on the code, as there are two more functions I'd love to implement, but they are super useful even as is.
They represent inefficiencies of the price action and act as super magnets. Black Levels attract or repel the price action. BIAS is simple, the last created level dictates the trend. If the last level is bullish, we are in bullish trend. Levels are dynamic, they get drawn and deleted accordingly with price movements.
Below an example of a trade I took this morning on EURNZD.
Notes:
-Higher TF can be used for analysis, and lower TF for execution, as any other pivot like indicator.
-Safest entries are indicated by a failed attempt to break the level, when this happens, price flies away from the level in the opposite direction (like a super FVG).
-Target can be the next contrarian level, an existing one acting as resistance or a new one just created.
-SL works well below the entering level or safer below the previous one.
I use them in my system together with Xard zigzag to confirm market structure, and they work perfectly. Try and tell me
PS: if anyone is wondering how the EURNZD went... try to guess where I closed it few seconds ago.
With love. Get rich!
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