Round Levels Indicator for MetaTrader 5 Download – Free [TradingFinder]

The Round Levels Indicator is a practical tool in technical analysis that highlights critical and sensitive market points by plotting round levels on the chart.

These levels typically identify areas where the price is likely toreverse or exhibit specific reactions.

Round Levels Trading Specifications Table

Key features of the Round Levels Indicator are presented in the table below:

Uptrend Conditions

The following image displays the S&P500 Index chart with the symbol (SP500) on the 4-hour timeframe.

A breakout above the round level of 4000 strengthens the bullish trend, indicating the breach of previous strong resistance and support, creating a suitable entry point for trades.

Downtrend Conditions

The image below shows the price chart of Australian Dollar vs. US Dollar (AUD/USD) on the 15-minute timeframe.

When the price reaches the0.66000 and 0.65000 levels, these act as support and resistance zones.

If the blue level is broken, it provides a suitable opportunity to enter a sell trade.

Indicator Settings

Image below shows the settings of the Round Levels Indicator:

• Chart theme: Chart theme
• Show Figures or Halves: Display figures or halves
• Show labels: Display labels
• Figure lines width: Width of figure lines
• Figure lines style: Style of figure lines
• Halves lines width: Width of half lines
• Quarter lines width: Width of quarter lines
• Quarter lines style: Style of quarter lines
• Alerts on: Alerts
• Alerts message: Alerts message
• Alerts sound: Alerts sound
• Alert type: Alert type
• Sound file: Sound file

Conclusion

The Round Levels Indicator identifies critical price points in the market and determines support, resistance, and reversal or breakout zones based on these levels.

This indicator highlights areas where there is a high probability of price pauses or directional changes.

Utilizinground levels in technical analysis aids in predicting price movements, spotting new trends, and setting stop loss and take-profit levels.