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    cTrader Psychological Levels & Round Numbers

    cTrader Round Numbers Indicator

    cTrader Psychological Levels & Round Numbers


    Limited Support

    3 review(s) | Add your review
    The cTrader psychological & round numbers indicator creates market price levels which are key levels in Forex expressed as round numbers and these numbers are the support & resistance areas. These areas are where you will find the highest trade activity.
    (OS) Type: Windows & Mac OS Compatible
    Current version: 1.0.0
    Updated: Tuesday, 13 April 2021

    cTrader Indicator

    Need a cTrader broker?  Open a demo account

    Educational use only: Read our disclaimer

    £0.00 Incl. VAT.

    Free for personal use under our license agreement. Redistribution & resale are strictly prohibited.

    cTrader Software


    Source code license available for experienced traders and developers seeking customization options.



    The cTrader Psychological Level indicator provides key levels which usually draw attention to Forex traders in the market, these psychological prices are attached to the human personality and their way of thinking. The ClickAlgo version of the Psychological level indicator also looks at the middle of the levels, known as the fifties.

     

    cTrader Psychological Levels 

     

    How Psychological Levels Work

    Most traders are drawn to whole numbers when placing their stop loss or take profit, this is usually seen as support as resistance levels which are created by many traders Psychological Thinking. These levels can alter order flow and price changes.

     

    Advantages

    The following are the advantages of using this type of indicator.

    • Displays key levels of support & resistance.
    • Easy to use for new traders.
    • It can be used for any symbol and in any market.

     

    Disadvantages

    The following are the disadvantages and limitations using this type of indicator.

    • The levels are never 100% reliable.
    • cannot be used alone, must be used with other technical indicators.

     

    Configurable Parameters Explained

    Your adjustable parameters are shown below with explanations of the less obvious ones. 

    • Set width: The distance the levels numbers are from the current symbol price.
    • Line width: The thickness of the level lines.
    • Display colour: The colour of the lines and numbers, default is for a black background.
    • Fifties colour: - The colour of the centre line and number.
    • Line style: The type of line style to be displayed.
     

    How To Install

    First, make sure you have the cTrader trading platform installed and then simply unzip the file and double-click on it to automatically install onto the platform.

     

    Join Telegram Community

    You can join a Telegram community and chat with other traders to discuss, share and ask for help.

     
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    Disclaimer

    The charting indicators and cBots available on this site are designed for the cTrader Desktop platform. cTrader is a registered trademark of Spotware Systems Ltd. NinjaTrader® is a registered trademark of NinjaTrader Group, LLC. No company within the NinjaTrader Group has any affiliation with the owner, developer, or provider of the products and services described on this site. Furthermore, NinjaTrader Group, LLC does not have any ownership, interest, endorsement, recommendation, or approval of these products or services. This website, along with all products and services provided by ClickAlgo, is intended for informational and educational purposes only. All content is hypothetical, carefully selected after the fact to demonstrate our products, and should not be interpreted as financial advice.


    Risk Warning

    Trading futures and forex involves significant risk and is not suitable for all investors. A trader may lose all or more than their initial investment. Historical performance is not necessarily indicative of future results. Approximately 74-89% of retail investor accounts lose money when trading CFDs. Only risk capital—money that can be lost without affecting one's financial security or lifestyle—should be used for trading. Investors should carefully assess whether they have sufficient risk capital before engaging in trading activities.


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