OpLi V40 + Light

by Dr.Hamdi Boukamcha
OpLi V40 + Light
Author: Xrust (2010.06.18 08:57)
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OpLi V40 + Light   OpLi © V40_Lite.mq4 (30.4 Kb) View
OpLi V40 + Light

Because of many questions on how to understand the work of indicator, the “Lite” variant has been developed.
In the “Lite” variant, only the information about two nearest important option levels are shown and the corresponding levels of support and resistance are contracted – thus creating an Ichimoku cloud-like channel.

If the channel widens, the force accumulates in it and it will unleash and move the price when the channel narrows.
It’s clearly seen both in history and online data.
If the price moves into cloud of resistance/support area then it shows the weakness of this area.
If the base of resistance/support area moves away from the price then it shows the weakness of moving force (the nearest option levels are absent).

In “Online” mode the current option levels are shown before the price and they can be described as:

Bright blue (cyan) levels – active support levels (limit orders, Call options in money)

Dark blue levels – the end of support area (stop orders, Put options without money).
If they executes, the price falls down quckly.

Bright red levels – active resistance levels (limit orders, Put options in money) that move the price down.

Dark red (Firebrick color for black background) – the end of resistance area (stop orders, Call options without money).
If they executes, the price rises up.

In summary, it is quite simplified but still a working interpretation model for option levels .

Better still to use the more serious “Pro” mode
In this, option levels are shown as in the latest OpLi system installation (indicator version 35).
The indicator works inside of the OpLi system and so it’s installation is required.

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