Key Levels Indicator for MetaTrader is the best technical analysis tool for price action trading. This is an indicator that detects a strong psychological level on forex charts.
The indicator can potentially improve your trading because it takes into account the most important element in forex – price action! It automatically highlights on your chart the key interest levels of BUYERS and SELLERS.
The key levels indicator for MT5 works with round numbers of price movement levels. They usually range from two to three trailing zeros depending on the currency pairs. These trailing zeros are dynamic support and resistance zones for BUYERS and SELLERS. This is because the price often reacts to such levels. These zones are often referred to as psychological levels.The MT5 indicator is recommended for beginners and professional traders; this eliminates the need to manually search for these key levels. It automatically looks for these key levels on your chart and helps you watch/trade them.With this information, you can make entries and exits with high probability. It will also help you anticipate further price movement or rejection. In addition, the indicator is suitable for different trading styles – scalping, daily, intraday and swing