Murrey Math Lines F2 is a VertexFX indicator used to identify Support and Resistance levels and use these levels to trade breakouts and reversals.
This indicator was created by T. Henning Murrey, and uses concepts of Gann charts. It comprises of 9 equidistant horizontal levels calculated from the Lowest Low to the Highest High over the recent P bars. The levels are 0/8, 1/8, 2/8, 3/8, 4/8, 5/8, 6/8, 7/8 and 8/8. 0/8 is the oversold line and 8/8 the overbought line; these are the hardest lines to cross and around 75% of the time, the crossing triggers price reversal. The range between 3/8 and 5/8 is the normal trading range and price tends to consolidate at these levels before falling (3/8 line) or rising (5/8) beyond this trading range.
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