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.
開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。
開源腳本
秉持TradingView一貫精神，這個腳本的創作者將其設為開源，以便交易者檢視並驗證其功能。向作者致敬！您可以免費使用此腳本，但請注意，重新發佈代碼需遵守我們的社群規範。
免責聲明
這些資訊和出版物並非旨在提供，也不構成TradingView提供或認可的任何形式的財務、投資、交易或其他類型的建議或推薦。請閱讀使用條款以了解更多資訊。