Psychological Levels For Multi Pair
This indicator has been created by a former hedge-fund employee and it automatically identifies when prices reach major psychological levels. Also know as 'whole numbers' or 'round numbers', these levels act as price barriers where large amounts of orders will generally accumulate. And the larger the psychological level, the more orders will generally be placed in that area. Therefore, these levels can be used to define entries and exits and provide a very strong R/R ratio.
Remember: Studies shows that more orders end in '0' than any other number.
- Monitors all 28 pairs at the same time. Apply the indicator to just one chart and instantly monitor the entire market.
- Triggers a real-time alert whenever a specified level is reached.
- You can select to monitor any levels you choose. From a small range of 5 pips (1.0005, 1.0010, 1.0015 etc), all the way to 5000 pips (1.0000, 1.5000, 2.0000 etc).
We recommend levels of at least 50-pip multiples. Such as 50, 100, 250, 500, 1000 etc. The higher the number, the stronger the psychological significance.
1.1050 would be a multiple of 50 pips.
1.1100 would be more significant than 1.1050, because it is a multiple of 100 pips.
1.1500 would be more significant than 1.1100 because it is a multiple of 500 pips.
1.2000 would be more significant than 1.1500 because it is a multiple of 1000 pips.
- Pip Range: Select the pip levels to monitor.
If you select '50', the indicator will search for 1.1000, 1.1050, 1.1100, 1.1150 etc.
If you select '100', the indicator will search for 1.1000, 1.1100, 1.1200, 1.1300 etc.
If you select '250', the indicator will search for 1.1250, 1.1500, 1.1750, 1.2000 etc.
If you select '500', the indicator will search for 1.1000, 1.1500, 1.2000, 1.2500 etc.
If you select '1000', the indicator will search for 1.1000, 1.2000, 1.3000, 1.4000 etc.
- Alert Interval Minutes: Choose time interval for receiving alerts on a specific pair.
Do you want to be alerted every time price reaches a specific level? Or do you want to be alerted only one time every 'X' minutes? This parameter lets you choose.
- Symbols: The indicator monitors the top 28 pairs by default, but you can select less pairs if you wish.
See the screenshots below for further details. Contact us if you have any questions.