What does "Level" mean in context of automatic game opponent settings

[Vortilion]

I didn't find an answer about that. E.g. if I say I don't want to play with opponents with a Level 2 or more above me, what exactly does that mean? How is a Level defined? what is my level? Is level equivalent to ELO?

[Jellby]

Level 0: Beginner (0 ELO)
Level 1: Apprentice (1-99 ELO)
Level 2: Average player (100-199 ELO)
Level 3: Good player (200-299 ELO)
Level 4: Strong player (300-499 ELO)
Level 5: Expert (500-699 ELO)
Level 6: Master (700+ ELO)

[Vortilion]

Thanks! Didn't find this table in the FAQ...