RoundLevels - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources
Many traders consider "circular" levels (i.e., levels where the vertical coordinate (in points) ends with "00") as support or resistance levels. Example - EURUSD has levels of 1.5800 and 1.5900. The RoundLevels indicator plots the two closest "round" levels above the current price and the two closest "round" levels below the current price.
The indicator was first implemented in MQL4 and published in the code base of mql4.com on March 29, 2008.
Figure 1. RoundLevels indicator
Attachment download
📎 roundlevels.mq5 (7.66 KB)
Source: MQL5 #1774
RoundLevels - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 Resource Usage and Screening Suggestions
RoundLevels - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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