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A MetaTrader 5 indicator that draws the Murrey Math levels, which divide a price range into eighths, and can send an alert when price touches a level. It suits traders who use Gann-style support and resistance.
Get one message the moment it launches, with its price.
Murrey Math Levels for MT5 is a chart indicator that plots the Murrey Math grid on your price chart and can notify you when price reaches one of its lines. It turns a recent price range into a set of levels you can use as support and resistance references.
The Murrey Math method was published by T. Henning Murrey in 1995 and builds on ideas associated with W. D. Gann. Its premise is that price tends to react around fixed fractions of a range. The indicator takes the range of a chosen number of bars and divides it into eighths, then draws the lines on the chart.
These interpretations come from the Murrey Math method itself. They are guidelines for reading the chart, not rules that the market must follow.
The indicator can send an alert when price touches a level, which helps if you do not want to keep watching the chart. Check the alert options in the inputs to choose how you are notified, and confirm that your terminal is set up to deliver them.
The indicator can be attached to any symbol and chart timeframe in MT5. A separate time frame input lets you calculate the levels from a different timeframe than the one on screen, for example showing levels from a higher timeframe on a lower one. Results will vary between instruments and sessions, so review the levels on your own symbols.
| Input | Purpose |
|---|---|
| Octave Period | Number of bars used to measure the price range behind the levels. |
| Time-Frame | The timeframe from which the levels are calculated. |
| Shift Back | Moves the calculation back by a number of bars so levels are less likely to change when a new high or low forms. |
| Levels Color | Colour of the plotted lines. |
| Levels Width | Thickness of the plotted lines. |
| Alert Settings | Choose how you are notified when price touches a level. |
Default values are not listed here, so check the input window after loading the indicator.
Trading carries risk, and past results do not predict future ones. Murrey Math levels are an analysis aid and do not signal that price will reverse. Test any settings on a demo account before using them with real money, and use your own risk controls.
| Product type | Indicator |
|---|---|
| Platform | MetaTrader 5 |
| Strategy focus | Support and resistance, Gann |
| Delivery | Download from your account after purchase |
| License key | Not needed |
| Status | Launching soon |
| Category | Indicator (chart overlay) |
| Approach | Murrey Math levels, based on Gann's observations |
| Markets | Any symbol available in your MT5 terminal |
| Timeframes | Any chart timeframe; the calculation timeframe is selectable |
| Alerts | Level touch alerts, configurable in the inputs |
| Trading style | Support and resistance, reversal and range analysis |
| Requirements | MT5 desktop terminal; no external DLLs are described |
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No. This listing is the MT5 build and must be loaded in MetaTrader 5. An MT4 terminal cannot run it, so check that you need the MT5 edition before buying.
No. It is an indicator that draws levels and sends alerts. It does not open, manage or close trades. Any trading decision remains with you.
Levels depend on the highest and lowest prices in the chosen window, so they can move when a new high or low forms. The Shift Back input moves the calculation back by a number of bars to reduce this. Test your chosen value on a demo chart first.
There is no single correct setting. The octave period sets how many bars define the range, and the time frame input sets which chart the levels come from. Try different values on a demo account and on historical charts for the symbols you trade.
Unzip the download, copy the indicator file into the Indicators folder inside the MQL5 data folder (File, Open Data Folder), refresh the Navigator or restart MT5, then drag the indicator onto a chart.
It runs on the chart data your terminal receives, so it is not tied to one broker. Symbol names and price history differ between brokers, so the levels may differ slightly.
Murrey Math Levels MT5
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