The Round Levels Forex indicator for Metatrader 5 draws horizontally aligned lines on the chart specifying round levels.
It shows the 00, 20, 50 and 80 round levels on the chart.
Often, traders employ round levels for take profit and stop loss placement.
You have the flexibility to enable or disable the display of specific levels on the chart according to your preference.
Additionally, you have the option to customize various parameters and indicator settings.
You can choose to show the 00 round level, 50 round level, 20 round level, and 80 round level.
Furthermore, you can adjust the colors assigned to each level, including level 00, level 50, level 20, and level 80.
Make yourself familiar with this technical indicator and test it first on a demo account.
It supports all time frames and trading instruments.
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The following chart shows how the Round Levels indicator looks when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Round Levels Indicator?
The indicator does not issue any buy or sell signals.
Combine it with other technical analysis tools.
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Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Key_Levels.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration