FLAME | Digital Levels
FLAME Indicator Explanation:
The FLAME Indicator aims to help you identify dynamic support and resistance levels on the chart. The indicator is based on horizontal lines set by the user, and their color changes depending on whether the price is at or above these lines (support) or below them (resistance). Here's a detailed explanation of each part of the indicator:
1. User Inputs:
The indicator allows you to customize 10 horizontal lines on the chart, with each line having a specific value and color.
Lines: You can define 10 horizontal lines on the chart with a specific value. For example, line1 can be at a value of 3055, and line2 at 3040, etc.
Colors: You can customize the color of each line individually. For example, line1 could be blue, line2 red, and so on.
2. How Alerts Work:
If the candle touches any of the defined lines within the tolerance margin, an alert is triggered, and a message is sent containing:
The name of the asset.
The line that was touched.
The designated link.
3. The Indicator in Action:
When you open the chart, you will see colored lines on the chart.
When the price touches these lines, the lines' colors will change based on whether they represent support or resistance.
You will receive alerts when this happens, allowing you to monitor the markets more accurately.
Conclusion:
The FLAME Indicator is a powerful tool for identifying support and resistance levels on the chart. By using this indicator, you can customize the lines with different colors and receive real-time alerts when the price touches these levels. This helps in making well-informed trading decisions based on clear technical analysis.
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