KT Round Number Levels Indicator
MT4/MT5 [Free Download]
Price reacts at 1.1000, and at plenty of levels that are nothing like round. KT Auto Support & Resistance finds all of them across every timeframe, ranks them by weight and proximity, and shows how often price has turned at each.
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The KT Round Number Levels indicator plots the round number levels, which are also commonly known as psychological levels in the Forex world.
For MT4 or MT5, download the free KT Round Number Levels indicator, install the file in the platform's Indicators folder, and attach it from the Navigator panel. Choose the timeframe and 00 or 50 level settings for your analysis, review reactions with candle closes and price action, and test the indicator on a demo account before using its levels with live capital.
In the context of Forex trading, round number levels are those levels in which there are two or more zeroes at the end. They are named as 00 levels in the indicator.
Some traders also consider the halfway points as a valid round number level. They are named as 50 levels in the indicator.
Use of round number levels in trading
- Round number levels work as strong support and resistance, which can be implemented in a trading strategy to achieve better performance.
- The round number levels work excellent for deciding the stop-loss and take-profit.
- If you use the Fibonacci for technical analysis, you will get the better result when you combine the Fibo with round numbers. Most of the time, price reacts better to the Fibonacci levels that are near to round numbers.
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Reviews
KT Round Number Indicator
Very useful! 5 stars!
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