Building an Interactive Dashboard for Statistical Price Levels

Summary

This installment describes an MQL5 chart dashboard for calculating and displaying statistical reference levels from a selected price range. The proposed measures include the mean, standard deviation bands, median, percentiles, and two estimates of the mode. On-chart controls let users set a range, calculate or hide levels, reset the display, and save snapshots for later monitoring or export. The described monitoring logic can track touches, breakouts, and reversals around saved levels, with configurable thresholds and optional ATR-based scaling.

The article presents the tool as an aid to price-action analysis rather than an automated trading system. It includes implementation details and illustrative chart interpretations, but provides no rigorous backtest or quantified evidence that the plotted levels predict reactions reliably. The visual claim that levels align with support and resistance should therefore be treated as an example, not validation. Results will depend on the chosen range, price input, and configuration.

Key ideas

• The dashboard calculates distribution statistics from a user-selected period of price data.
• It displays statistical levels as chart lines that can be inspected or toggled interactively.
• Saved levels can be monitored for touches, breakouts, and reversals, with optional ATR-scaled thresholds.
• The article offers visual examples but no controlled performance evaluation of the levels.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.