As the name implies, the Big Round Numbers indicator, there are levels and levels that the price respects beautifully and the market accepts these levels as levels of support and resistance. Price rand levels are prices that end in the numbers 00, 50, 25, and so on. Such as: 1.4000, 1.4400 or 1.4450 and…
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How to use and trade with Rand number indicator
In financial markets, including Forex, the price waits when it reaches these levels and then decides whether to cross these levels or from there change its trend, albeit for a short time. It may test the price of a level several times until it finally makes a decision about the future of the trend.
The arrows in the example image below show the reaction showing the price to the mentioned levels.
In the settings page of this indicator, you can change or delete less important levels. It is also possible to change the color. Keep in mind that levels ending in 00 will always take precedence over levels 50 or 25. It is usually recommended to use numbers with 3 or 4 zeros behind decimals for long time frames such as 4 hours.
Big Round Numbers Indicator
** Under no circumstances is it recommended to start trading with just one indicator. Indicators are aids, use them alongside your tested trading strategy and method. **
This indicator can be used along with price action methods to determine the important levels and levels of the market.
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