OPEN-SOURCE SCRIPT
Physical Levels (XAUUSD, 5$ Pricesteps)
Functionality:
This indicator draws horizontal lines in the XAUUSD market at a fixed spacing of USD 5. The lines are both above and below the current market price. The number of lines is limited to optimize performance.
Use:
The indicator is particularly useful for traders who want to analyze psychological price levels, support and resistance areas, or significant price zones in the gold market. It helps to better visualize price movements and their proximity to round numbers.
How it works:
This indicator draws horizontal lines in the XAUUSD market at a fixed spacing of USD 5. The lines are both above and below the current market price. The number of lines is limited to optimize performance.
Use:
The indicator is particularly useful for traders who want to analyze psychological price levels, support and resistance areas, or significant price zones in the gold market. It helps to better visualize price movements and their proximity to round numbers.
How it works:
- The indicator calculates a starting price based on the current price of XAUUSD, rounded to the nearest multiple of USD 5.
- Starting from this starting price, evenly distributed lines are drawn up and down.
- The lines are black throughout and are updated dynamically according to the current chart.
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