Level Plotter Free
Level Plotter Free draws round number levels (.00s and .50s) on your chart, so that you don't need to manually update them every time price moves.
This is the Free version. The Paid version can be found here: https://www.mql5.com/en/market/product/63976.
Price very often finds support or resistance near or at round numbers, also known as psychological levels. Round numbers are so powerful because the majority of traders have their take profit or stop loss orders posted at those levels. Being aware of this fact and integrating it into your strategy, can greatly improve your trading.
In this version, Level Plotter can do the following for you:
- automatically draw round number levels on your chart (either .00 or .50 levels, or both)
- alert you when price is approaching those levels (by Alerts, Notifications and/or per E-mail)
- Highest timeframe: Defines the highest timeframe where levels will be drawn. This option prevents the lines from appearing on higher timeframes, like the weekly or monthy chart, and thus guaranteeing these charts remain readable.
- Pip range: Defines the range around price (in pips) where the levels will be drawn. If for some reason you just want to see nearby levels, and not all of them, this option allows you to do so.