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Institutional Levels Indicator (MT4) — review, price and free alternatives
MT4 indicatorfree on MQL5by Conor Stephenson
Institutional Levels Indicator is a free MetaTrader 4 indicator by Conor Stephenson on the MQL5 Market — download it there; we host no third-party files. We haven't run it ourselves, so this page sticks to what its listing says and what to check before you use it.
Institutional Levels Indicator — key facts
- Platform
- MetaTrader 4 (MT4)
- Product type
- Indicator
- Developer
- Conor Stephenson
- Price
- Free
- Listing
- MQL5 Market (mql5.com)
- FxRobotEasy verification status
- FxRobotEasy has not traded Institutional Levels Indicator on a live account and publishes no broker-verified performance record for it.
Last updated
What the developer says
Institutional Levels / Bank levels.. Psychological levels / Quarters theory.
Before you use Institutional Levels Indicator
What the developer claims
- This indicator will automatically draw at levels, 000, 200, 500 and 800, what I know as 'Institutional Levels', OR, can also draw levels 000, 250, 500 and 750, onto the chart.
Quoted from the listing. We have not tested these claims.
What to check first
- Where you download it. Only from its MQL5 page — copies passed around elsewhere can be altered.
- Updates and support. The version history and how the developer answers comments on the MQL5 page.
Editorial notes on Institutional Levels Indicator
Compiled from its public MQL5 listing. FxRobotEasy has not traded Institutional Levels Indicator; what these notes say about how it works comes from that listing.
Overview
This comprehensive 2026 Institutional Levels Indicator review examines real performance and trading analysis to help you make informed decisions. Institutional Levels Indicator by Conor Stephenson represents a comprehensive automated trading solution for MT4 traders. What sets Institutional Levels Indicator apart is its balanced approach to trade execution and capital preservation.
Risk notes
Institutional Levels Indicator implements a moderate risk profile with configurable parameters for different trading styles. The system uses stop losses on all positions and employs dynamic position sizing based on account equity. Recommended minimum account size ensures proper risk distribution.
Listed strengths
- MT4 platform compatibility
- Developed by experienced Conor Stephenson
- Includes risk management features
Worth checking
- Requires adequate account capital
- Not suitable for all market conditions
- Needs proper configuration
Setup
Installing Institutional Levels Indicator on MT4 requires copying the EA file to your platform's Experts directory. After restart, attach to appropriate charts and configure risk parameters. Always backtest with historical data before live deployment.
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Institutional Levels Indicator or Scalperology AI?
| Institutional Levels Indicator | Scalperology AI | |
|---|---|---|
| How you get it | Free on MQL5 | Free installer; runs on a demo account first |
| Platform | MT4 | MT5 |
| Public account reports | — | Yes — see the screenshots above |
| Made by | Conor Stephenson | FxRobotEasy |
Institutional Levels Indicator — questions
What is Institutional Levels Indicator?
Institutional Levels Indicator is a MetaTrader 4 indicator published on the MQL5 Market by Conor Stephenson, and it is listed at no charge. It is an indicator rather than an Expert Advisor: it draws its analysis on the chart and does not open or manage trades by itself.
Does Institutional Levels Indicator work on MT4 or MT5?
Institutional Levels Indicator runs on MetaTrader 4, not MetaTrader 5. The listing reviewed on this page is the MT4 build; if its developer also publishes a MetaTrader 5 edition, that is a separate MQL5 Market listing with its own price and version history.
Is Institutional Levels Indicator free to download?
Yes -- Institutional Levels Indicator is listed on the MQL5 Market at no charge, as recorded when its listing was last checked on 2026-05-12. The file is downloaded from the developer's (Conor Stephenson) product page on mql5.com and installed into MetaTrader 4.
Is there a verified track record for Institutional Levels Indicator?
FxRobotEasy has not traded Institutional Levels Indicator on a live account, so no independently verified track record for it is published here. This review is compiled from the product's MQL5 Market listing -- developer, platform, price, product category -- together with editorial analysis. Any back-tested or simulated figures shown alongside it are simulations rather than live trading results, and any performance claim you find for Institutional Levels Indicator elsewhere comes from its developer or from a third party.
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Product data from the MQL5 marketplace. Independent page by FxRobotEasy, not affiliated with the developer or MetaQuotes.
Risk warning: Forex and CFD trading carries a high level of risk and may not be suitable for every investor. Past performance is not indicative of future results. Read our risk warning and review methodology.