OPEN-SOURCE SCRIPT

Custom Psych Levels V1.0 Theo Signal

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Designed for Index Traders (US30, NAS100, SPX, etc.)

This script is especially effective on indices such as US30, where price reacts strongly to round numbers and psychological zones. By default, levels adapt to index volatility and scale, making them ideal for:

intraday bias

pullback reactions

breakout continuation

mean reversion back to balance

Key Features

Rolling 5-Level Structure: Always centered on current price, no chart clutter.

Market- Aware Magnitude: Automatically adjusts spacing for indices, forex, and crypto.

Higher- Timeframe Anchoring: Optionally anchor levels to 1H, 4H, or Daily closes while trading lower timeframes like 5m.

Session & Daily Resets: Re-anchor levels at New York session open or new trading day.

Center Line Emphasis: Highlight the equilibrium level with custom color, thickness, and style for balance or decision-making.

Clean Professional Display: Only relevant levels near price are shown.

Trading Use Cases

This indicator is best used as a framework, not a signal generator. It excels when combined with:

momentum confirmation

liquidity sweeps

volume expansion

break-and-retest structures

session highs/lows

Traders can use the center line as balance, outer levels as reaction or target zones, and band shifts as confirmation of expanding price acceptance.

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