Murrey Math Pro - OptionsHub

Murrey Math Pro — OptionsHub

1. What Murrey Math Lines Are

Murrey Math Lines are a grid of support/resistance levels built by dividing a selected price range into 8 equal parts (0/8…8/8). The indicator complements the grid with “extensions” -1/8, -2/8, +1/8, +2/8, which reflect extreme zones beyond the main range.

The idea is simple:

* the market often moves in “steps” between fixed zones,
* the middle levels provide balance/flat zones,
* the extreme levels are zones of “overbought/oversold” and a high probability of reaction,
* extensions show anomalous moves beyond the frame and often act as a trigger for recalculation (shift) of the grid.

2. What the Indicator Shows on the Chart

The script builds:

a) Base grid (current timeframe)

* levels 0/8…8/8 (and optionally extensions ±1/8, ±2/8)
* the grid is calculated based on the selected “Frame mode” and “Anchor”

b) Optional MTF grid (higher timeframe)

* the same levels, but calculated on the selected higher TF (e.g., D)
* used for “level weight”: a higher-TF level is usually stronger

c) Bounce Stats (reaction statistics)
For each level (optionally: key only or all), statistics are tracked:

* Touches — how many times the level was touched
* Bounce% — percentage of successful “bounces” from the level among completed cases

3. Interpretation of Levels

Key levels

4/8 — the central level (balance)

* Often acts as an “axis”: around 4/8 the market tends to range/rotate.
* If price holds above 4/8, the level often acts as support. Below — as resistance.

0/8 and 8/8 — frame boundaries

* These are the extreme levels of the main grid; they often cause strong reactions.
* When approaching 0/8 or 8/8, the probability of sharp bounces/corrections is higher than at “weak” levels.
* A breakout with acceptance often means a “regime change” and a potential shift/rebuild of the frame (if enabled).

Intermediate levels

1/8 and 7/8 — “strength test” zones

* If price reaches 7/8 but cannot pass — often a pullback to 4/8.
* If it confidently breaks 7/8 and holds — the probability of a move to 8/8 and beyond the frame increases.

(For the downside, this is mirrored: 1/8 is tested during declines.)

2/8 and 6/8 — significant holding levels

* Often give a reaction, especially if confirmed by closes on one side of the level.
* If after a touch/bounce price quickly breaks the level by a close — this signals a weak reaction.

3/8 and 5/8 — working levels inside the range

* Often act as “steps”: the market may chop between them in sideways conditions.
* A break of 5/8 often increases the probability of a move toward 8/8.
* A break of 3/8 — the probability of a move toward 0/8.

Extensions

-1/8 and +1/8

* “Overstretch” zones beyond the frame.
* Often indicate weakening momentum and an increased probability of a return into the range.

-2/8 and +2/8

* Extreme zones.
* Often used as a “boundary after which it makes sense to rebuild the grid,” but not necessarily immediately: confirmations are important (in classical approaches, several consecutive closes are often mentioned).

4. How to Configure the Indicator

Step 1. Choose the “frame” (what to consider the range)

Open the Core & Frame menu:

* If you want a grid “from the actual range” — use:

* Mode = Range/8
* Frame mode = Auto (from data)

* If you want an “octave” grid (more stable ranges, closer to the classic approach) — use:

* Mode = Octave (normalized)
* Frame mode = Auto (from data)
* Octave pick = Nearest (usually the best default)

* If you need a strictly fixed frame size:

* Fixed (manual range) — you set the range manually
* Fixed (manual exponent 2^n) — range = 2^n (octave approach)

Step 2. Define how often HH/LL are recalculated

In the Anchor & Shift menu:

* Anchor = None (lookback)
The grid is recalculated from the last N bars (Lookback). Adapts quickly, but may “drift.”
* Anchor = Daily/Weekly/Monthly
The grid is built within the day/week/month using accumulated High/Low. More “regime-based” and stable.

Step 3. Configure Shift (frame rebuilding)

If shift is enabled, the grid can “move” so that price returns inside the frame (taking padding and confirmation into account).

5. Detailed Description of Menu Parameters

A) 🧩 Profiles

Profile Mode

* Off (Manual) — only manual settings are used.
* Scalp / Swing / Position — predefined parameters are applied for the style.
* Auto — the profile is selected automatically based on the chart timeframe:

* up to 15 minutes → Scalp
* up to 4 hours → Swing
* above → Position

**Important:** manual MTF toggles and their visual parameters take priority.

B) ⚙️ Core & Frame

Mode

* Range/8 — divides the currently selected range into 8 equal parts.
* Octave (normalized) — first normalizes the range to an “octave” size (2^n), then divides it into 8. Usually more stable.

Frame mode

* Auto (from data) — the range is taken from data (HH/LL).
* Fixed (manual range) — you set the range as a number (Fixed range).
* Fixed (manual exponent 2^n) — range = 2^n (Fixed exponent).

Fixed range
Used only with `Fixed (manual range)` — sets the frame size in price units.

Fixed exponent 2^n
Used only with `Fixed (manual exponent 2^n)` — sets n for 2^n.

Octave pic
Used in octave mode to select the nearest “octave”

* Nearest — nearest (universal default)
* Ceil — up (the frame is not smaller than the range)
* Floor — down (the frame is not larger than the selected range)

Base anchor
How to anchor the “lower boundary” of the frame to a multiple of the frame

* Floor / Round / Ceil to the frame multiple.

Min range (ticks)
Ensures a minimum frame size so that on very small prices/tickers there are no “zero” steps and artifacts.

C) 🧷 Anchor & Shift

High/Low Anchor

* None (lookback) — take HH/LL over Lookback.
* Daily / Weekly / Monthly — accumulate HH/LL within the period, reset at the period boundary.

Lookback (bars)
How many bars to consider when Anchor = None.

Anchor Cap (bars)
A limiter so that HH/LL accumulation does not grow infinitely on rare timeframes.

Enable Frame Shift
Enables rebuilding of the base (frame) if price goes beyond the boundaries (taking padding into account) and there is confirmation.

Shift Trigger

* Close — more “strict,” fewer false shifts.
* HL — reacts faster (uses high/low), but shifts more often on spikes.

Shift Padding (%)
Allowance that expands the frame boundaries:

* 0% — shift triggers immediately upon leaving the frame
* greater than 0% — allows price to “slightly exit” without rebuilding

Shift Confirm Bars
How many consecutive closed bars must be beyond the boundary (taking padding into account) before a shift occurs.

* 1 = reacts quickly
* 4+ = closer to the “conservative” classic recalculation

D) 📊 Bounce Stats

Calculate Bounce % for

* Off — statistics are not calculated.
* Key Only (0/4/8) — statistics only for key levels.
* All (0..8) — for all levels.

Touch tolerance (ticks)[/i
How many ticks are allowed for a “level touch.”
Increase if the instrument has many “noisy pierces.”

Touch cooldown (bars)
Anti-chatter: how many bars must pass for a new touch of the level to be counted again.

Show Panel
Shows the statistics table.

Panel Position
Position of the table on the chart.

E) 🖥️ Display

Draw Levels
Which levels to show: all / key only / key + quartile.

Show Extensions
Shows -2/-1/+1/+2.

Show Labels
Enables level labels.

Extend / Segment length
Lines can be extended to the right/left/both sides or drawn as a segment of a specified length.

F) 🧭 MTF (higher timeframe)

Show MTF grid
Displays a second grid calculated on a higher timeframe (e.g., D).

MTF timeframe
Timeframe of the MTF grid.

MTF show …
You can separately enable/disable:

* 0/8 and 8/8 (major)
* 4/8 (mid)
* weak levels 1/8..7/8
* extensions

6) Practical Usage Tips

1. For “classic” levels, start with:
* Octave (normalized) + Auto frame
* Anchor = Weekly (or Daily)
* Shift Trigger = Close
* Shift Confirm = 4 (conservative)

2. For intraday:
* Anchor = None (lookback) with a moderate lookback (e.g., 64–128)
* Shift Confirm = 1–2
* Enable MTF D to see “higher” levels as reference points