Key Levels Indicator for MetaTrader 4 and 5
Info
The Key Levels Indicator for MetaTrader 4 and 5 is a Indicator for MetaTrader 5 that round levels are significant psychological price points in the forex market, characterized by two or three trailing zeros, depending on the quote precision. For instance, in a 4-digit quote, round levels are those ending in 00, such as 1.
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 Indicator for MetaTrader 4 and 5
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 significant psychological price points in the forex market, characterized by two or three trailing zeros, depending on the quote precision.
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: Trading Session Boxes Indicator for MT4/MT5 - another powerful indicator for MetaTrader 5 traders.
Round levels are significant psychological price points in the forex market, characterized by two or three trailing zeros, depending on the quote precision. For instance, in a 4-digit quote, round levels are those ending in 00, such as 1.3500, 1.3600, and so on. In a 5-digit quote, they would be 1.35000, 1.35050, and so forth.Also recommended: Session Range Breakout: Asia, London, and New York High/Low Levels - similar indicator with strong performance on MetaTrader 5.
The Key Levels indicator is designed to highlight these round levels on a price chart, specifically focusing on levels ending in 00, 20, 50, and 80.
On a currency chart, the indicator displays:
In the indicator settings, these levels are categorized into two groups: 00/50 and 20/80. You can selectively show or hide each group.
To emphasize specific levels, you can adjust the color settings. For instance, if you want to focus on the 00 level in the 00/50 group, you can set the color of the 50 level to match the background, making it less prominent.
This indicator is compatible with both MetaTrader 4 and MetaTrader 5 and offers the following customizable settings:
- show_00_50_levels: Toggle the visibility of levels ending in 00 and 50.
- show_20_80_levels: Toggle the visibility of levels ending in 20 and 80.
- level_00/50/20/80 _color: Choose the color for each level.
Levels 20, 80, and 50 are also significant. Level 50 represents the midpoint between two round levels and can act as a resistance or support. Levels 20 and 80 are boundary values; price movements beyond these levels may signal a breakout or a bounce from the 00 level.
You may also like: ICT Kill Zones Indicator: Asian, London, New York in New York Time (2026) - 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.