Round Levels MetaTrader forex indicator — an MT4/MT5 forex indicator showing round levels and zones near them based on configuration. It can be helpful to trade off the natural psychological chart support and resistance zones.
Input parameters
- Levels (main default = 5) — the number of round levels in each direction (up and down).
- Interval (main default = 50) — the interval in points between round levels. For example, the default value of 50 will draw a level for every 50 points.
- ZoneWidth (main default = 10) — the width of the zone in points.
- ColorUp (main default = clrFireBrick) — the color of the round level zones that will draw above the current price.
- ColorDn (main default = clrDarkGreen) — the color of the round level zones that will draw below the current price.
- InvertZones (main default = false) — inverted zones are highlighted with the colors outside the zone boundaries vs. inside in non-inverted zones.
- DrawLines (main default = false) — if true, will draw lines at round levels and zones.
- LineColor (main default = clrDarkGray) — the color of the round level lines.
- LineWidth (main default = 1) — the width of the round level lines.
- LineStyle (main default = STYLE_DASHDOT) — the style of the round level lines.
- ObjectPrefix (main default = “RoundLevels”) — the prefix to add to the mt4 chart object names. Only change this if there are conflicts with other indicators on the chart.
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Example
As you can see, the indicator applies to the Forex pairs and stock market CFDs. The image shows the Round Levels forex indicator with inverted zones and DrawLines turned on. Psychological round levels of $50 each play a crucial role in this share’s market.
Round Levels Forex Indicator Download
The round Levels forex indicator is also being developed via a site-dedicated GitHub repository. You are encouraged to actively participate in improving this indicator by submitting your features via pull requests and reviewing existing suggestions, fixes, and so on.
Discussion
Warning! If you do not know how to set up this indicator, please read the MetaTrader Forex Indicators Tutorial.
Do you have any more suggestions or questions regarding this forex indicator? On the indicators forums, you can always check Round Levels with other forex traders and MQL programmers.
