These are also often the same levels where you will see price ‘bounce’ or aggressive breakthroughs. These psychological points in the market can then act as major supply and demand zones. These are the levels where banks are more likely to set their large orders. You can get the round numbers indicator for MT5 here.īank levels are similar to major round numbers. Display the lines in front or in the background.
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This MT4 round numbers indicator is a super simple indicator that you can add to your chart and it will highlight the important 00 and 050 levels for you.
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NOTE: If you do not yet have the best MT4 / MT5 charts, you can read about how to get the best free trading charts and the broker to use these indicators with here. Using a MT4 or MT5 round numbers indicator that can help you quickly find these levels can save you a lot of time. On the flip side, somebody already long may have their stop just on the other side of this round number, for example at 1.1999.īeing able to quickly identify and spot and key round numbers levels coming up can be a huge help in your trading. They will also often factor these numbers into both their entries and exits.įor example if a trader is looking to go long when the price moves into the 1.2000 level on the EURUSD, they may instead go long from the 1.2001 level to make sure they are entered. When traders are looking to make their trades and these see a round number coming up they will often take notice. The reason these round numbers work as key levels as support and resistance so often is because of the price action order flow. See the chart example of the EURUSD below and how price repeatedly respects the round numbers of 1.2500 and 1.2000. These round numbers normally end in multiples of 0. Round numbers can act as major psychological support and resistance levels in the financial markets.