KeyLevels - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

Round levels are strong psychological levels, with 4-digit quotes having two trailing zeros (a 2-digit number paired with the Japanese yen) or 5-digit quotes having three trailing zeros (a 3-digit number paired with the Japanese yen). For example, for EURUSD round levels, the quotes are 1,3500; 1,3600; 1,3700; 1,3800 etc., and for EURUSD 138,00; 139,00; 140,00; 141,00 etc.

Key Levels, Indicators of Price Levels

The Key Levels indicator is great for displaying round number levels on price charts. Its main purpose is to display levels trailing 00, 20, 50 and 80.

Displayed on a currency chart as:

In the indicator settings, the displayed levels are divided into 2 groups: 00/50 and 20/80. You can turn off any of the 2 groups.

If you only need to display one level from a certain group (for example, 00 in the 00/50 group), then you can change the color of the second level to the background color so that it is not visible on the chart.

The Key Level indicator supports MetaTrader 4 and MetaTrader 5 and has the following settings:

You also have access to levels 20, 80 and 50. The main idea is as follows. Level 50 is half the level of the next round, which also "lowers" the price.

The 20 and 80 levels are boundary values ​​and a break above these values ​​could signal an eventual breakout or rebound from the 00 level.

Attachment download

📎 key_levels.mq5 (3.81 KB)

Source: MQL5 #12431