Level modes: average, by close, by wick, manual
A level in Level Alert is built from the candle you pick on the chart: the high candle gives resistance, the low candle gives support. The level mode decides which part of that candle is used: the close price, the tip of the wick, or everything in between. You choose the mode in the "Level settings" block before clicking the candle.
In short
| Mode | Resistance | Support | Use it when |
|---|---|---|---|
| Average | zone from Close to High | zone from Low to Close | you are not sure which edge matters — the default |
| By close | line at Close | line at Close | candle closes are what matters to you |
| By wick | line at High | line at Low | you only want a signal at the very edge of the previous move |
| Manual | your price | your price | you already know the level — a round number, for example |
Average
A zone between the candle's close and its wick. For resistance it runs from Close to High, for support from Low to Close.
It is a compromise: the edge of the zone closest to the current price is the close, so you see a touch as early as in "By close" mode. A breakout, though, means price went past the far edge — beyond the wick. So a single watch tells "came up to the level" apart from "went straight through it".
Not sure what to pick? Keep "Average". It works for most levels.
By close
A single line exactly at the close of the chosen candle. Narrow and precise, no margin.
Good if you draw levels by closes — many traders do on higher timeframes, where wicks can be long and random. The downside: long wicks beyond that line are ignored.
By wick
A single line at the very tip of the wick: High for resistance, Low for support — the extreme price the market has already reached.
Of the three candle-based modes this line is the furthest from the current price, so the signal comes later and less often: only when price gets back to the previous extreme. Useful when intermediate approaches to the level do not interest you.
Manual
No candle needed: you simply type two prices — resistance and support. Resistance must be above support.
Good for levels you found elsewhere: round numbers, levels from your own system, a price from someone's analysis. Volume and RSI in the signal are taken from the candle on which the signal fired, as in the other modes.
Level mode and signal mode are different things
The level mode answers where the level is. The signal mode ("Instantly on touch" or "On candle close") answers when to send the message: at the moment of the touch or after the candle closes. They can be combined freely. For example, "By wick" plus "On candle close" is the calmest setup: you get a message only when a candle closes after reaching the previous extreme.