This upgrade I have attempted to improve the Automatic levels calculation and better automatic levels selections. It should now work better with exotic currencies, indices, commodities, and stocks.
The indicator plots the so called "round price levels" or "00" levels, which end on 00 and 50: for example, 1.4000, 1.4400, 1.4450. It automatically calculates the levels for based on your charts time frame. Alternatively you can manually select main level size (in pips) and/or the number of sub-levels (0, 1, 2, 3, 9). Generally speaking, the program tries to keep to 3 Digit "00" rounding for currencies and non-stocks, and 2 Digit "00" rounding for Stocks.
Use this indicator as a guidance to a better mapping of Support/Resistance levels on the chart. Next time you draw Support/Resistance lines, if they coincide with round price levels, especially "00", you have got a excellent S/R level to work with!
Versionsinformation
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...Minor update
Changed Sublevel input to an options list of specific numbers (0,1,3,4,9).
Excellent indicator. Only minus is that you can not change the line style. It would be nice to be able to change the line style
for different levels to a solid or dashed line instead of being stuck with a dotted line for all levels as at present.
EchoBlack
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Great indicator @JustUncleL . It would be nice to be able to adjust the type of line style (dashed, solid, dotted) for the quarter and round number levels along with the thickness.
AshwinTrader
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Sir, Please correct me if i am wrong, the blue dotted lines are plotted as per live chart ??, As range of the blue dotted lines are limited and some of the previous chart dont cover dotted lines....
JustUncleL
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@AshwinTrader, The dotted lines are plotted Live and use the current data to centre the lines and go back 9999 candles, that should cater for most chart analysis going back in time.
JuliaElizaC1
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Hello. Thanks for creating this great indicator! However, I am finding it difficult to understand how to alter to what I need on each timeframe. I need this indicator to have 1000, 250, 50 and 25 pip levels shown on each timeframe. I have no idea how to do this. I've been playing around with it but I don't know what I'm doing. Do you have a tutorial on how to change the levels? Thank you!
JustUncleL
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@JuliaElizaC1, Sorry no extra tutorials provided, all my scripts are provided free as is.
JuliaElizaC1
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@JustUncleL, hi, which scripts? Do you mean the coding? Sorry I’m not too familiar with this platform as I normally use mt4... so not sure where to find scripts.
JustUncleL
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@JuliaElizaC1, All my scripts are in the TradingView Public Indicator Library, or you can see my list here
for different levels to a solid or dashed line instead of being stuck with a dotted line for all levels as at present.