18 ohms is correct. Due to the fact that the LEDs are designed for 4.5V and you only have a 5V supply, there's no need to drop much across the resistor. 500 ohm would be if you wanted to run them kinda dim (If ~ 10-15mA) off of 12V.
Keep in mind that LEDs should never be run in parallel off a single resistor. If you want to run them in paralell, you need a resistor on each one. You can run LEDs in series off a single resistor.
If you want to calculate the resistor yourself, it's R=(Vs-Vf)/If, where Vs is the supply voltage, Vf is the diode forward voltage, and If is the desired forward current (which must be somewhat close to the forward current at which Vf is given). Then round up to the nearest resistor you can buy. You should generally derate the forward current by 10-20% from the given maximum in order to ensure reasonable lifetime.