KT Murrey Math Indicator 
MT4 | MT5

Understanding the Murrey Math Levels

Murrey Math trading system is based on the assumption that price behaves the same in all markets; that's why different markets have similar characteristics.

Murrey Math divides the prices into 1/8 intervals. The basic concept of the Murrey Math Trading System is that the price movement of a market usually retraces in multiples of 1/8 to 8/8.

There are total Thirteen Murrey Math levels:

• [-2/8]P Extremely Overshoot
• [-1/8]P Overshoot
• [0/8]P Ultimate Support - Extremely Oversold
• [1/8]P Weak, Stall and Reverse
• [2/8]P Pivot, Reverse - Major
• [3/8]P Bottom of Trading Range
• [4/8]P Major Support/Resistance Pivotal Point
• [5/8]P Top of Trading Range
• [6/8]P Pivot, Reverse - Major
• [7/8]P Weak, Stalll and Reverse
• [8/8]P Ultimate Resistance - Extremely Overbought
• [+1/8]P Overshoot
• [+2/8]P Extremely Overshoot

While every level has its significance, Murrey Math traders believe that market reverse 95% of the time when price cross above or below the [2/8]P Extremely Overshoot level.

Input Parameters

• Octave Period:  Number of bars to calculate the price range for Murrey math levels.
• Time-Frame:  Select the time frame.
• Shift Back:  Shift back in bars to avoid the repaint of levels when price make a new high/low.
• Levels Color:  self explanatory.
• Levels Width:  self explanatory.
• Alert Settings:  self explanatory.