OPEN-SOURCE SCRIPT
[Dark Data] Psychological Levels
Objective
Adds levels on your chart based on chosen intervals for rounded numbers.
Theory
Rounded price levels attract order flow due to psychological bias. This increased interest can influence price action and liquidity behaviour.
How To Use
Increase the division value to generate wider and typically stronger psychological levels, especially divisions ending in 1 or 5.
Designed to stay lightweight so multiple instances can be stacked to visualize levels of different significance.
Adds levels on your chart based on chosen intervals for rounded numbers.
Theory
Rounded price levels attract order flow due to psychological bias. This increased interest can influence price action and liquidity behaviour.
How To Use
Increase the division value to generate wider and typically stronger psychological levels, especially divisions ending in 1 or 5.
Designed to stay lightweight so multiple instances can be stacked to visualize levels of different significance.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.