This indicator is really simple. It’s there to visualize important psychological levels, also referred to as Double-Zeros. Most markets tend to behave strangely at psychological price levels like for example Gold at 1000$ or EURUSD at 1,4000. The indicator does only show the nearest psycholgical level of the current price (=if you scroll to the left, there’s always just a single line). EDIT: improved version1: does also show past levels now.
There’s just one parameter:
extern int relDigitPos=2; // position of the relevant digit.
// example1: a setting of “2” in a market at the level of 1,2312 (taxed by 4 digits) makes the indicator visualize 1,2300
// example2: a setting of “3” in a market at the level of 1,23125 (taxed by 5 digits) makes the indicator visualize 1,23100
// example3: a setting of “1” in a market at the level of 1,23125 (taxed by 5 digits) makes the indicator visualize 1,20000
// example4: a setting of “-1” in a market at the level of 123,15 (taxed by 2 digits) makes the indicator visualize 120,00
MT4 Indicator Download – Instructions
Double-Zero Indicator is a Metatrader 4 (MT4) indicator and the essence of the forex indicator is to transform the accumulated history data.
Double-Zero Indicator provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Double-Zero Indicator.mq4?
- Download Double-Zero Indicator.mq4
- Copy Double-Zero Indicator.mq4 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader Client
- Right click on Double-Zero Indicator.mq4
- Attach to a chart
- Modify settings or press ok
- Indicator Double-Zero Indicator.mq4 is available on your Chart
How to remove Double-Zero Indicator.mq4 from your Metatrader 4 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
MT4 Indicators Download below: