Key Levels + Zones (Demo Version)

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Highlight even numbered price levels

Indicator clearly displays the even numbered price levels: “00s” and “50s”.

And displays “Mid-Lines” which are preset pips on each side of the even numbered price levels (set to 12.5 pips by default).

Renders “Risk Zone” of Support/Resistance:

The 25-pip zone that straddles even numbered price relates to where many traders place their stops, and therefore can be a “Risk Zone” to steer clear of when placing your stops.

The zones act as Support and Resistance.

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What are Psychological Levels and How Do They Work?

“Psychological levels are market price levels which are often key levels in forex denoted by round numbers. These round numbers frequently act as levels of support and/or resistance.”

Traders will often call these whole number intervals ‘double-zeros’ (00‘s), as these prices are at even numbers such as 1.31000 on EUR/USD, 1.57000 on GBP/USD or 132.00 on GBP/JPY.

Some traders will take this a step further by looking at the number directly in the middle of these whole numbers or ‘the fifties’ (50‘s). These levels, such as 1.31500 on EUR/USD or 131.50 on GBP/JPY can often come into play in the same manner as the ‘double-zeros.’

For more info on key levels, see dailyfx.com article:
Psychological Levels & Round Numbers in Forex Trading

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