Description
Round Numbers Support & Resistance Indicator
This powerful indicator automatically plots horizontal support and resistance lines at psychologically important round number levels on your chart. As any experienced trader knows, prices tend to react strongly at round numbers like 1.2000, 1.2100, 1.2050 because these levels represent psychological barriers where traders place orders.
What it does in simple terms: 📊 Draws three types of lines based on pip intervals you choose:
- Major levels (red, solid lines) - The strongest psychological levels (typically every 100 pips)
- Minor levels (blue, dotted lines) - Secondary levels (typically every 50 pips)
- Trace levels (white, sparse dots) - Finer levels (typically every 25 pips)
Key Features:
✅ Fully customizable pip intervals for each level type
✅ Choose your own colors and line styles for perfect chart visibility
✅ Automatically updates as price moves to always show relevant levels
✅ Clean, professional appearance that won't clutter your charts
✅ Works on all timeframes and currency pairs
✅ Put 0 to hide unwanted levels
Summary
Key features include full customization of pip intervals, colors, and line styles for each level type, ensuring clear chart visibility. The indicator updates dynamically as prices move to maintain relevant support and resistance lines. It is designed to provide a clean, professional appearance without cluttering charts and is compatible with all timeframes and currency pairs. Users can disable any level type by setting its interval to zero.
This tool supports multiple markets including Forex, indices, commodities, cryptocurrencies, and stocks, making it versatile for various trading strategies that rely on psychological price barriers.
Discussion
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