Round Levels Indicator MT4 MetaTrader for scalp in Forex Free Download

Introduction to Round Levels Indicator in Stock Market and Forex (30-minute timeframe) 📈💹

The Round Levels indicator is an extremely useful tool for identifying round price levels in the stock market and forex, especially designed for short-term (scalping) trades in lower timeframes. This indicator automatically identifies significant price levels that end in multiple zeros, such as 1.1000, 1.1100, or 1.1200, and plots them on the chart. These levels are generally of high importance and attract significant attention in daily trading and market analysis.

In this article, we will explore how to use the Round Levels indicator and how it can be used to determine entry and exit points in the market.

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Why Are Round Levels Important? 🎯

Round price levels refer to prices that end in multiple zeros, such as 1.1000, 1.1100, and 1.1200. Due to market psychology and the greater attention they attract from traders, these levels often become key support and resistance zones where market prices frequently react. These levels often cause market trend changes or price corrections, making their identification and analysis crucial for traders. The Round Levels indicator automatically plots these levels on the chart and helps traders pinpoint key points for entering and exiting the market.

Installing Round Levels Indicator in MetaTrader 4 ⚙️

Click here to download and install Round price Indicator

To use the Round Levels indicator in MetaTrader 4, you need to download and install it. At the end of this article, there is a video tutorial on how to install this indicator in MetaTrader 4, which you can follow easily.

When you run the indicator, an Alert will appear on your chart. To activate this indicator, make sure the “Allow DLL Imports” option is enabled in the Common tab of the indicator’s properties window.

Round Levels Indicator Settings for MetaTrader 4 🔧

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The Round Levels indicator doesn’t require any specific settings and works well by default. However, you can adjust its settings in the Inputs section to suit your trading strategy. In the Color tab, you can change the appearance of the round level lines by adjusting their thickness and color. Once you make the changes, click OK to save the settings.

Buy Signal Using Round Levels Indicator 💹

Click here to download and install Round price Indicator

The Round Levels indicator helps you identify buy and sell points more accurately. Here’s how to generate buy signals:

When to Enter a Buy Position:

1. The indicator identifies several round price levels on the chart.
2. The candles are within the upper and lower round levels within a specific time range.
3. When a bullish candle crosses the upper level upwards, a buy signal is generated.
4. After the buy signal is triggered, wait for a consolidation candle or a strong bullish candle near the upper level.
5. Enter the buy position when the consolidation candle forms.
6. Set your stop-loss at the previous swing low, or use other strategies like the ATR for precise stop placement.

When to Exit the Buy Position:

You can use a risk-to-reward ratio of 1:1 to 1.5. Alternatively, you can exit when the candle crosses the next upper level.

Sell Signal Using Round Levels Indicator 💸

Click here to download and install Round price Indicator

Now that you know how to enter a buy position, here’s how to generate sell signals:

When to Enter a Sell Position:

1. The indicator identifies several round price levels on the chart.
2. The candles are within the upper and lower round levels.
3. When a bearish candle crosses the lower level downwards, a sell signal is generated.
4. After the sell signal is triggered, wait for a consolidation candle or a strong bearish candle near the lower level.
5. Enter the sell position when the consolidation candle forms.
6. Set your stop-loss at the previous swing high, or use ATR to determine the precise stop placement.

When to Exit the Sell Position:

You can use a risk-to-reward ratio of 1:1 to 1.5. Additionally, exit the position when the candle crosses the next lower level.

The Round Levels indicator is an extremely effective tool for identifying round price levels in financial markets, especially for scalping in lower timeframes. It automatically plots these levels on the chart, allowing traders to accurately identify entry and exit points. By using buy and sell signals based on the crossing of candles at these levels, traders can easily enter and exit positions and take advantage of market price changes. Additionally, the indicator’s settings allow you to customize it according to your trading strategy.

Using this indicator will help you make precise market trend analyses and conduct efficient trades in forex or stock markets