Key Price Levels (Demo Version)
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Highlight even numbered price levels
Indicator clearly displays the even numbered price levels: “00s” and “50s“.
And displays “Straddle Zone Lines” which are preset pips on each side of the even numbered price levels.
Renders a ‘Risk Zone’ of Support/Resistance:
- The risk zone straddles even numbered prices.
- The zones act as natural Support & Resistance.
- Zone relates to where many traders place their stops, and therefore can be risky zone to steer clear of when placing your stops.
Indicator has full custom control over the level lines color and style.
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What are Psychological Levels and How Do They Work?
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“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
Try the Demo Version!
Demo contains all features.
Fully functional.
No disabling timebomb.
No limited trial period.
Operates on EUR/USD charts, on the M1, H1, and D1 timeframes.
Demo is fully functional except it does not send email alerts.
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