Robot catalog

Spots - Indicator for MetaTrader 4

Spots
TypeIndicators PlatformMT4 Version10 Date created 5 May 2014 Date updated19 August 2017
Formatmq4 Size3.7Kb Downloads214 Rating
3.11 of 5
based on 57 rates

This indicator breaks the chart into so-called "round" levels (ending with "00"). These levels often act as support and resistance for a financial instrument. This is explained by the fact that traders place orders for buying/selling at round prices. Therefore, the place of accumulation of the largest number of orders is often the points of the price reversal.

However, it is not recommended to use SweetSpots as a self-tool. It is more useful when applied as a filter or addition to a trading strategy.

Share

Most popular robots

bbma
MT4
Indicator
bbma
Trading Robot
MT4
Indicator
VWAP
MBFX Timing
MT4
Indicator
MBFX Timing