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Ultimate Round Numbers

The Ultimate Round Numbers indicator for MT4 displays round number levels on the chart. With the Ultimate Round Numbers Forex Indicator, traders can easily identify the most important round numbers in the Forex market and use them to their advantage.

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Description

The Ultimate Round Numbers indicator for MT4 is a custom Forex indicator that identifies round number levels of financial instruments. Round numbers (e.g., 1.1000, 1.3000, etc.) are critical zones in the financial markets where significant trading decisions are made. Thus, they act as potential support and resistance zones.

The indicator helps Forex traders identify potential zones for trend reversals or continuation in the financial markets. Therefore, Forex traders can use the indicator to identify trading opportunities, entry, and exit zones.

Features of the Ultimate Round Numbers Indicator for MT4

The indicator identifies and displays round numbers using horizontal dotted lines on the MT4 chart. Besides, it has customizable parameters that allow traders to set their custom round numbers to suit their preferences.

Benefits of Using the Indicator

  • Trend Analysis: The indicator can be an invaluable technical analysis tool, enabling traders to identify the market trend direction. For instance, in an uptrend, traders can anticipate a trend continuation if the price breaks above an identified round level.
  • Improves Decision Making: The indicator helps traders make more objective trading decisions. For example, a trader may be wary of buying an instrument if the price is close to a round number.
  • Risk Management: Finally, the indicator is an incredible tool for identifying optimal zones for setting a take-profit and stop-loss order.

Indicator Settings Description

The indicator comes with the following customizable settings:

Step.Pips: Determines the distance (in pips) between the round levels.

Custom_grid: Sets the custom grid.

Grid_10000_pairs: Defines the trading instrument to analyze for round levels.

Color: Determines the color for the identified round levels.

Style: Determines the line style (e.g., dotted) to display identified round levels.

Prefixzzzz: Determines how the prefix is displayed.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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