VR Grid Indicator

VR Grid Indicator

The VR Grid indicator for MetaTrader 5 is a special tool that automatically draws individual grid lines and period separators on the chart.

The VR Grid indicator for MetaTrader 5 is a special tool that automatically draws grid lines and period separators on the chart. It works similarly to traditional gridlines on MT5 platforms, but has more flexible customization options such as grid spacing.

What is the Horizontal Grid Lines Indicator for MT5?
The Horizontal Grid Lines indicator is simply a technical tool that continuously draws horizontal lines on the chart. However, this Grid indicator is outstanding as it displays both horizontal lines and highlights different trading periods of past price action for ease of use.

In addition, it also identifies 00 levels, also known as psychological zones, where significant trading activity is carried out by large banks, hedge funds, etc.

How to Use the VR Grid Indicator

The image above shows the action of the VR Grid indicator on the USDJPY currency pair. The green horizontal lines represent psychological zones and the gray vertical lines depict trading periods of past price action. The distance between horizontal lines is 50 points; however, you can adjust the interval to suit your trading style.

Conclusion
The VR Grid Indicator for MT5 may look somewhat insignificant in the Forex market; however, it conveys some hidden information that allows you to make better trading decisions. Moreover, it can be downloaded for free.