Round Levels MT4
This software component for MetaTrader 4 is built to enhance the capabilities of your trading environment. This technical indicator acts as a specialized analysis tool designed to visualize market data. It helps traders identify emerging trends, momentum shifts, and key support or resistance levels by plotting statistical calculations directly onto price charts.
How to Setup and Use Round Levels MT4
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.
Description & Settings
Round Levels MetaTrader indicator
— an MT4/MT5 indicator that can display round levels and zones near them based on your configuration. It can be useful to trade off the natural psychological support and resistance zones. It can also issue alerts when the price is in either support or resistance zone.
Input parameters
Levels
(default = 5) — the number of round levels to process in each direction (up and down).
Interval
(default = 50) — the interval in points between round levels. For example, the default value of 50 means that a level will be drawn each 50 points.
ZoneWidth
(default = 10) — the width of the zone in points.
ColorUp
(default = clrFireBrick) — the color of the round level zones that will be drawn above the current price.
ColorDn
(default = clrDarkGreen) — the color of the round level zones that will be drawn below the current price.
InvertZones
(default = false) — inverted zones are highlighted with the colors outside the zone boundaries vs. inside in non-inverted zones.
ZonesAsBackground
(default = true) — if true, round number zones will be drawn behind the chart plot (candlesticks, bars, or line).
DrawLines
(default = false) — if true, lines will be drawn at round levels in addition to zones.
LineColor
(default = clrDarkGray) — the color of the round level lines.
LineWidth
(default = 1) — the width of the round level lines.
LineStyle
(default = STYLE_DASHDOT) — the style of the round level lines.
LinesAsBackground
(default = false) — if true, round number zones will be drawn behind the chart plot (candlesticks, bars, or line).
ShowLineLabels
(default = false) — if true, a line label will be drawn to mark the price level of each line.
LineLabelColor
(default = clrWhite) — line labels' color.
ObjectPrefix
(default = "RoundLevels") — the prefix to add to the chart object names. Only change this if there are conflicts with some other indicators on the chart.
EnableNotify
(default = false) — if true, the indicator will issue notifications when the price (Bid) is in the zone.
SendAlert
(default = true) — if true and the notifications are enabled, the indicator will use built-in popup alerts.
SendApp
(default = false) — if true and the notifications are enabled, the indicator will use push-notification alerts.
AlertDelay
(default = 5) — the delay in seconds between consecutive alerts.
