Key Price Levels
$4.99
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.
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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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