Round Number indicator for NinjaTrader is a very simple tool, but perhaps one of the most POWERFUL ones you have ever seen!
Whole or round numbers tend to cause significant psychological effects on trading decisions, and therefore on market movements. Have you heard that ES is likely to reach 2000? Traders will hold their long positions tightly and just take profits at around 2000; this is the so-called "magnet effect" that attracts the price toward beautiful whole or round numbers.
You know the importance of psychological support & resistance levels. However, sometimes you remember them and sometimes you forget because they are not printed on your chart. Inconsistency is bad behavior in trading! That's why this round number indicator was created for the NinjaTrader platform.
The indicator automatically prints horizontal lines at whole or round numbers, based on a step (in ticks) you specify. For example, if you set a step of 100 ticks for EUR/USD, horizontal lines will be printed at 1.2000, 1.2100, 1.2200... Or if you set a step of 40 ticks (10 points) for ES, horizontal lines will be printed at 2000, 2010, 2020...
The indicator supports up to 3 user-defined steps at the same time. To illustrate, you may have horizontal lines printed every 100 ticks, 50 ticks, and 25 ticks.
Key features:
- Print horizontal lines based on a step you specify
- Support up to 3 steps at the same time
- Optionally label the prices of horizontal lines (can be placed on the left or right)
- 20 Jul 2021 - "Line: Enabled" property was added.
- 20 Feb 2021 - Massive changes, fixes and improvements were made (DPI, display name, Z order).
- 10 May 2019 - The licensing system was critically upgraded.
- 19 Sep 2018 - The indicator was re-exported to be compatible with recent changes of the platform; the toolbar menu was removed.
- 31 Mar 2017 - Z order was revised to bring levels behind bars.
- 14 Dec 2016 - Anti-aliasing was optimized.
- 01 Sep 2016 - The indicator was re-exported to be compatible with recent changes of the platform.
- 27 Aug 2016 - The indicator was released (converted from its NT7 version).
- 27 Aug 2016 - Price labels were added.
- 15 Nov 2014 - The indicator was released.
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