Multi-Level Grid Overlay is a visual indicator designed for use on any chart type, including Renko, Candlestick, Line, Tick, Range, Volume, Point & Figure, and Kagi charts. It draws configurable horizontal grid lines that represent higher timeframe price levels directly on lower timeframe charts, facilitating multi-timeframe analysis without the need to switch between windows.
Key features include adjustable grid spacing starting from 0.1 points, a customizable number of grid lines ranging from 4 to 50, and selectable line colors for enhanced visibility. The indicator automatically labels price levels for quick reference.
This tool supports various markets such as Forex, Indices, Commodities, Crypto, and Stocks, and works across all timeframes since the grid spacing is price-based rather than time-based. It is primarily used to identify support and resistance levels, visualize higher brick boundaries on lower Renko charts, and highlight key price zones for trade entries and exits.
To use, attach the indicator to any chart and set the "Higher Renko Size" parameter to define grid spacing. The number of lines and their colors can be fully customized to suit individual preferences. This indicator serves as a visual aid and does not generate trading signals.