Round Levels MetaTrader indicator — an MT4/MT5 indicator that can display round levels and zones near them based on your configuration. It can be useful to trade off the natural psychological support and resistance zones.
- Levels (default = 5) — the number of round levels to process in each direction (up and down).
- Interval (default = 50) — the interval in points between round levels. For example, the default value of 50 means that a level will be drawn each 50 points.
- ZoneWidth (default = 10) — the width of the zone in points.
- ColorUp (default = clrFireBrick) — the color of the round level zones that will be drawn above the current price.
- ColorDn (default = clrDarkGreen) — the color of the round level zones that will be drawn below the current price.
- InvertZones (default = false) — inverted zones are highlighted with the colors outside the zone boundaries vs. inside in non-inverted zones.
- DrawLines (default = false) — if true lines will be drawn at round levels in addition to zones.
- LineColor (default = clrDarkGray) — the color of the round level lines.
- LineWidth (default = 1) — the width of the round level lines.
- LineStyle (default = STYLE_DASHDOT) — the style of the round level lines.
- ObjectPrefix (default = "RoundLevels") — the prefix to add to the chart object names. Only change this if there are conflicts with some other indicators on the chart.
As you can see, the indicator is applicable not only to the Forex pairs but also to stock market CFDs. The image shows the Round Levels indicator with inverted zones and with DrawLines turned on. Psychological round levels of $50 each play crucial role in this share's market.
Downloads (ver. 1.01, 2020-07-15)Round Levels for MetaTader 4 in .zip Round Levels for MetaTader 4 in .mq4 Round Levels for MetaTader 5 in .zip Round Levels for MetaTader 5 in .mq5
Round Levels indicator is also being developed via a dedicated GitHub repository. You are encouraged to actively participate in the improvement of this indicator by submitting your own features via pull-requests and reviewing existing suggestions, changes, fixes, and so on.
Do you have any suggestions or questions regarding this indicator? You can always discuss Round Levels with other traders and MQL programmers on the indicators forums.
1.01 - 2020-07-15
- Removed some redundant code to improve performance.
- Fixed the zones to extend as far right as possible even if you scale out the chart.
- Improved some minor code issues.
1.00 - 2020-03-18
- Initial release.