Round Levels

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.

Input parameters

• 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.
• ZonesAsBackground (default = true) — if true, round number zones will be drawn behind the chart plot (candlesticks, bars, or line).
• 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.
• LinesAsBackground (default = false) — if true, round number zones will be drawn behind the chart plot (candlesticks, bars, or line).
• 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.

Example

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.