OPEN-SOURCE SCRIPT
Round Number Magnet Levels
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ROUND NUMBER MAGNET LEVELS
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OVERVIEW
Round Number Magnet Levels automatically plots the nearest psychological round-number price levels around the current price. Round numbers act as natural support and resistance because traders cluster their orders, stop-losses, and targets at these "round" prices. This tool is built specifically for Indian indices — Nifty, BankNifty, and Sensex — and keeps your chart clean by showing only the most relevant levels near price instead of cluttering it with every level.
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DESIGNED FOR NIFTY, BANKNIFTY & SENSEX
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The indicator auto-detects the instrument and applies the correct interval:
- Nifty → 100-point levels
- BankNifty → 500-point levels
- Sensex → 500-point levels
No manual setup needed — switch between the three indices and the levels adjust on their own. A manual interval option is also available for any other instrument.
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HOW IT WORKS
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The script draws a fixed number of round levels above and below the current price, split into two visual tiers:
- MAJOR levels (every Nth interval) — drawn as thicker, highlighted lines. These are the strongest psychological magnets (e.g. Nifty 24000, 24500).
- MINOR levels — drawn as thinner lines for secondary reference.
As price moves, the levels rebuild around the latest price, so the nearest zones are always in view. Clean labels show each level as a round number with no decimal clutter.
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HOW TO USE
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- Watch for price reactions (rejection or acceptance) at major levels for potential support/resistance.
- Use the levels as logical reference points for targets and stop placement.
- Combine with your own price-action or confirmation method — round levels mark where reactions are likely, not guaranteed.
- Works best on intraday timeframes (15m, 1H) for Nifty, BankNifty, and Sensex.
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SETTINGS
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- Auto-detect interval — picks the right round-number step per instrument; can be turned off for a manual interval.
- Major level frequency — defines how often a level is treated as "major."
- Levels above & below — controls how many levels are shown on each side of price.
- Visual controls — separate colors, line widths, and label settings for major and minor levels.
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NOTES
───────────────────────────────────────────
This is a discretionary support/resistance tool, not a buy/sell signal generator. It does not repaint — levels are derived purely from current price and the chosen interval. Always do your own analysis and manage risk; past behavior at a level does not guarantee future reactions.
ROUND NUMBER MAGNET LEVELS
═══════════════════════════════════════════
OVERVIEW
Round Number Magnet Levels automatically plots the nearest psychological round-number price levels around the current price. Round numbers act as natural support and resistance because traders cluster their orders, stop-losses, and targets at these "round" prices. This tool is built specifically for Indian indices — Nifty, BankNifty, and Sensex — and keeps your chart clean by showing only the most relevant levels near price instead of cluttering it with every level.
───────────────────────────────────────────
DESIGNED FOR NIFTY, BANKNIFTY & SENSEX
───────────────────────────────────────────
The indicator auto-detects the instrument and applies the correct interval:
- Nifty → 100-point levels
- BankNifty → 500-point levels
- Sensex → 500-point levels
No manual setup needed — switch between the three indices and the levels adjust on their own. A manual interval option is also available for any other instrument.
───────────────────────────────────────────
HOW IT WORKS
───────────────────────────────────────────
The script draws a fixed number of round levels above and below the current price, split into two visual tiers:
- MAJOR levels (every Nth interval) — drawn as thicker, highlighted lines. These are the strongest psychological magnets (e.g. Nifty 24000, 24500).
- MINOR levels — drawn as thinner lines for secondary reference.
As price moves, the levels rebuild around the latest price, so the nearest zones are always in view. Clean labels show each level as a round number with no decimal clutter.
───────────────────────────────────────────
HOW TO USE
───────────────────────────────────────────
- Watch for price reactions (rejection or acceptance) at major levels for potential support/resistance.
- Use the levels as logical reference points for targets and stop placement.
- Combine with your own price-action or confirmation method — round levels mark where reactions are likely, not guaranteed.
- Works best on intraday timeframes (15m, 1H) for Nifty, BankNifty, and Sensex.
───────────────────────────────────────────
SETTINGS
───────────────────────────────────────────
- Auto-detect interval — picks the right round-number step per instrument; can be turned off for a manual interval.
- Major level frequency — defines how often a level is treated as "major."
- Levels above & below — controls how many levels are shown on each side of price.
- Visual controls — separate colors, line widths, and label settings for major and minor levels.
───────────────────────────────────────────
NOTES
───────────────────────────────────────────
This is a discretionary support/resistance tool, not a buy/sell signal generator. It does not repaint — levels are derived purely from current price and the chosen interval. Always do your own analysis and manage risk; past behavior at a level does not guarantee future reactions.
Skrypt open-source
W zgodzie z duchem TradingView twórca tego skryptu udostępnił go jako open-source, aby użytkownicy mogli przejrzeć i zweryfikować jego działanie. Ukłony dla autora. Korzystanie jest bezpłatne, jednak ponowna publikacja kodu podlega naszym Zasadom serwisu.
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.
Skrypt open-source
W zgodzie z duchem TradingView twórca tego skryptu udostępnił go jako open-source, aby użytkownicy mogli przejrzeć i zweryfikować jego działanie. Ukłony dla autora. Korzystanie jest bezpłatne, jednak ponowna publikacja kodu podlega naszym Zasadom serwisu.
Wyłączenie odpowiedzialności
Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.