Open close levels Metatrader 5

In the realm of Forex Trading Tools, Metatrader 5 is a name that stands out. With an array of advanced forex strategies and tools, it has carved a niche for itself. One such tool, the Open Close Levels, has been making waves in the forex market. This review will delve into the features, advantages, and overall performance of this tool.

Key Features of Open Close Levels

The Open Close Levels is an indicator for MetaTrader 5, specifically designed to display the High/Low, Open/Close, and ATR levels of the day, week, or month on the chart. It has a unique ability to mark round levels and signal the days of the week while numbering each week. All the levels are marked with price tags, complete with a price symbol, offering a comprehensive Forex Market Analysis.

This Forex Trading Software calculates and displays the distance that the price has traversed from High to Low and from Open to Close by day, week, and month. It provides High/Low details of the day, week, or month, along with the Open/Close information. The round levels are displayed, and the ATR of the day, week, or month is marked. All these calculations are manually performed based on how many points the price has passed from the opening price of the day on the nearest history.

User-friendly Functions

Open Close Levels comes equipped with a hotkey function, enabling users to switch on or off the display of various indicator functions. For convenience, these keyboard shortcuts are located on the Numpad keyboard. It includes six different functions, ranging from High/Low, Open/Close, Round levels, ATR, Price tags, and Days of the week and the distance the price has passed from Min to Max and from Open to Close. There is also an option to disable all functions.

Advantages of Using Open Close Levels

The biggest advantage of using this tool is the time it saves for traders. Unlike other indicators, the indicator lines drawn by Open Close Levels are strictly from the beginning of the day, week, or month to the end in the form of a segment. This clear demarcation provides an understanding of the level displayed. Additionally, it eliminates the need for manual calculations of how much the price has moved from opening to closing, from minimum to maximum, or to remember the day of the week.

Moreover, the hotkey function is a significant benefit, allowing users to enable or disable the display of the levels as needed. It also facilitates the removal of all markup from the chart with a single key press, ensuring there is no disruption in the reading of the price chart. The indicator comes with several settings for customization to suit the trader’s preferences.

Independent Testing and User Experience

For traders interested in seeing the Open Close Levels in action, independent testing of this product can be viewed on the forexroboteasy.com website. Users can also choose to subscribe to updates on the results of testing this product. Sharing user experiences with this tool can provide valuable insights to others considering incorporating this tool into their forex trading toolbox.

FAQ

1. What is the Open Close Levels forex tool?

Open Close Levels is an advanced tool for MetaTrader 5, designed to display various levels on the chart, including High/Low, Open/Close, and ATR levels of the day, week, or month.

2. How does the Open Close Levels tool save time for traders?

The tool saves time by automatically calculating and displaying the distance that the price has traveled from High to Low and from Open to Close. It also eliminates the need for manual calculations and remembering the day of the week.

3. How can I customize the Open Close Levels tool?

The tool comes with a host of settings that allow you to customize it according to your preferences. From enabling or disabling various functions to removing all markup from the chart, the customization options are vast.

This review of Open Close Levels provides an unbiased overview of the tool’s capabilities and advantages. The tool’s unique features and user-friendly interface make it a valuable addition to any trader’s arsenal. By facilitating comprehensive forex market analysis, it simplifies the trading process and enhances the overall trading experience.