Round Levels

The Round Levels MT5 indicator is a financial trading tool that identifies round numbers on the chart. These levels (round numbers) are also known as psychological zone zones of significant trading decisions.

Therefore, the indicator can be used to identify trend reversal or a continuation setup. It is a versatile tool beneficial to scalpers, day/intraday, and swing traders.

Features of the Round Levels MT5 Indicator

The indicator is a multiple-time frame tool that plots round numbers on the chart. It is built with an algorithm that automatically identifies a round number and then highlights it using horizontal lines colored in blue, lime, red, and magenta. The blue and lime lines are potential resistance zones, while the red and magenta lines are support levels.

Benefits of Using the Indicator

• Objective Market Analysis: The Round Levels MT5 indicator assists traders in making a better analysis and in predicting the potential direction of the market with accuracy.
• Enhances Decision Making: The levels identified by the indicator are optimal zones for making trading decisions such as trade entry or exit.

Indicator Settings Description

The indicator comes with the following customizable settings:

Numbers of zeros for rounding: Determines the number of zeros to round to.

Label of the levels: Defines the levels to label.

The color of the second upper level: Determines the color to display the second upper levels of round numbers.

The style of the second upper level: Determines the line style to display the second upper level’s round numbers.

The width of the second upper level: Determines the line width to display the second upper level’s round numbers.

The color of the first upper level: Determines the color to display the first upper-level round numbers.

The style of the first upper level: Determines the line style to display the first upper-level round numbers.

The width of the first upper level: Determines the line width to display the first upper-level round numbers.

The color of the first lower level: Determines the color to display the first lower level round numbers.

The style of the first lower level: Determines the line style to display the first lower level round numbers.

The width of the first lower level: Determines the line width to display the first lower level round numbers.

The color of the second lower level: Determines the color to display the second lower level round numbers.

The styles of the second lower level: Determines the line style to display the second lower level round numbers.

The width of the second lower level: Determines the line width to display the second lower level round numbers.