OPEN-SOURCE SCRIPT
TZ_Gold_Round_Levels
TZ_Gold_Round_Levels displays a moving grid of round-number price levels around the latest chart price. It automates a five-level layout with fixed offsets, making it easier to keep these reference levels centered as price changes. It is designed for XAUUSD on a 15-minute chart and also works on other chart timeframes. It does not change the chart timeframe automatically.
CALCULATION AND COLORS
The central level is calculated as:
nearest round level = round(latest price / spacing) x spacing
With the default spacing of 50, the indicator selects the nearest multiple of 50 and draws two round levels above it and two below it. Each of these five levels has a blue horizontal line, a green line 10 price units above it, and a red line 10 price units below it, producing 15 lines in total.
For example, when the center is 4300, the blue levels are 4200, 4250, 4300, 4350, and 4400. The lines surrounding 4300 are green at 4310 and red at 4290.
LIVE UPDATES
The grid updates as the live candle's price changes. Midpoint ties round upward: at 4325, the center changes from 4300 to 4350. If price moves back below that midpoint, the center returns to 4300. This can happen before the candle closes.
The latest grid extends across the chart, including earlier candles. These lines represent the current grid, not the levels that were active at each historical candle. The indicator is a visual reference tool; it does not generate buy/sell signals or backtest results.
SETTINGS AND USE
Add the indicator to an XAUUSD chart and choose the desired timeframe, such as 15 minutes. Inputs control round-number spacing, offset distance, levels on each side, line colors and width, price-label visibility, and label distance. The offset must remain below half the spacing.
Distances are price units, not pips. On XAUUSD, an offset of 10 means a 10.00 change in the quoted price. The horizontal levels alone do not establish support, resistance, or a trade recommendation.
CALCULATION AND COLORS
The central level is calculated as:
nearest round level = round(latest price / spacing) x spacing
With the default spacing of 50, the indicator selects the nearest multiple of 50 and draws two round levels above it and two below it. Each of these five levels has a blue horizontal line, a green line 10 price units above it, and a red line 10 price units below it, producing 15 lines in total.
For example, when the center is 4300, the blue levels are 4200, 4250, 4300, 4350, and 4400. The lines surrounding 4300 are green at 4310 and red at 4290.
LIVE UPDATES
The grid updates as the live candle's price changes. Midpoint ties round upward: at 4325, the center changes from 4300 to 4350. If price moves back below that midpoint, the center returns to 4300. This can happen before the candle closes.
The latest grid extends across the chart, including earlier candles. These lines represent the current grid, not the levels that were active at each historical candle. The indicator is a visual reference tool; it does not generate buy/sell signals or backtest results.
SETTINGS AND USE
Add the indicator to an XAUUSD chart and choose the desired timeframe, such as 15 minutes. Inputs control round-number spacing, offset distance, levels on each side, line colors and width, price-label visibility, and label distance. The offset must remain below half the spacing.
Distances are price units, not pips. On XAUUSD, an offset of 10 means a 10.00 change in the quoted price. The horizontal levels alone do not establish support, resistance, or a trade recommendation.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
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📣 Forex Telegram: t.me/tradzoofx
📲 Mobile App: tradzoo.com/download
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🔗 Website: bit.ly/tradzoopage
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
📈 Trade Smarter with TradZoo!
📣 Telegram: t.me/tradzooIndex
📣 Forex Telegram: t.me/tradzoofx
📲 Mobile App: tradzoo.com/download
📲 Forex App:tradzoo.com/forex/download
🔗 Website: bit.ly/tradzoopage
📣 Telegram: t.me/tradzooIndex
📣 Forex Telegram: t.me/tradzoofx
📲 Mobile App: tradzoo.com/download
📲 Forex App:tradzoo.com/forex/download
🔗 Website: bit.ly/tradzoopage
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.