Round levels scanner MT4

Advantages of Round Levels Scanner MT4

The Round Levels Scanner for MetaTrader 4 provides several key advantages for traders looking to enhance their trading strategies effectively:

1. Identification of Major Psychological Levels

This indicator automatically identifies major psychological levels, also known as round numbers or whole numbers. Recognizing these key levels is critical as they often act as support or resistance points in the market, allowing traders to make more informed decisions.

2. Multi-Symbol Monitoring

The Round Levels Scanner can monitor all symbols visible in your Market Watch window simultaneously. By applying the indicator to just one chart, you can instantly keep an eye on the entire market. This feature saves time and ensures you do not miss valuable trading opportunities across different currency pairs or instruments.

3. Real-Time Alerts

One of the standout features is its ability to send real-time alerts when the price reaches a round level. All native alert types in MetaTrader are supported, ensuring you stay informed without needing to constantly monitor your charts.

4. Integration with Trading Systems

The scanner can write signals to a file that can be utilized by Expert Advisors for automated trading. This compatibility makes it easier to incorporate the indicator into your own trading systems or strategies, enhancing efficiency and effectiveness.

5. On-Chart Signal Panel

The indicator includes an on-chart panel that stores the signals, providing a clear and organized view of trading signals as they occur. This feature aids in quick decision-making processes, allowing traders to act promptly.

6. Simple to Use

Designed for simplicity, the Round Levels Scanner is highly adaptable to various trading rules and techniques. This allows traders to enhance their systems without overwhelming complexity.

Important Consideration

While the scanner provides powerful features, it is essential to place it on a clean chart without other indicators or Expert Advisors that might interfere with its functionality. Additionally, it does not provide buy/sell advice or draw lines and arrows directly on the chart; instead, it provides round level horizontal lines on charts opened from the signal panel.