key levels
Info
The key levels is a Indicator for MetaTrader 5 that round levels are strong psychological levels with two trailing zeros for 4 digit quotes (2 digit pairs with jpy) or three trailing zeros for 5 digit quotes (3 digit for pairs with jpy). for example, for eurusd round levels are quotes like 1,3500; 1,3600; 1,3700; 1,3800 etc.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use key levels
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
round levels are strong psychological levels with two trailing zeros for 4 digit quotes (2 digit pairs with jpy) or three trailing zeros for 5 digit quotes (3 digit for pairs with jpy).
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Value Area Levels Indicator - another powerful indicator for MetaTrader 5 traders.
round levels are strong psychological levels with two trailing zeros for 4 digit quotes (2 digit pairs with jpy) or three trailing zeros for 5 digit quotes (3 digit for pairs with jpy). for example, for eurusd round levels are quotes like 1,3500; 1,3600; 1,3700; 1,3800 etc., and for eurjpy it's 138,00; 139,00; 140,00; 141,00 etc.
Also recommended: SMMA Levels MTF Indicator - similar indicator with strong performance on MetaTrader 5.
key levels, an indicator of price levelskey levels indicator is good for displaying round levels on a price chart. its main purpose is to display levels with trailing 00, 20, 50 and 80.
on the currency chart it displays as:
in the indicator settings displayed levels are divided into 2 groups, 00/50 and 20/80. you can turn off any of the 2 groups.
if you need to display only one level from a certain group (e.g. 00 from 00/50 group), then you can change the color of the second level to the background color to make it invisible on the chart.
key levels indicator supports metatrader 4 and metatrader 5 and has following settings:
show_00_50_levels - show/hide levels with trailing 00 and 50.
show_20_80_levels - show/hide levels with trailing 20 and 80.
level_00/50/20/80 _color - choose the color of these levels.
you can also use levels 20, 80 and 50. the main idea is as follows. level 50 is a half way to the next round level which can also "decelerate" the price.
levels 20 and 80 are boundary values, breaking through these values may indicate the final breakout or bounce from level 00.
credits:
You may also like: Tirone Levels: Support and Resistance Indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property indicator_chart_window
#property version "2.0"
#property strict
input string h=" --- mode_settings ---";
input bool show_00_50_levels=true;
input bool show_20_80_levels=true;
input color level_00_color=clrlime;
input color level_50_color=clrgray;
input color level_20_color=clrred;
input color level_80_color=clrgreen;.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.