This script is based on "Round Numbers Above and Below" by BitcoinJesus-Not-Roger-Ver, but unlike this script that only shows "Round Numbers" levels, my script also shows "Quarter Number" levels like 25 and 75 that are very important for those who follow the quarters theory. Also the original script doesn't have different colors for different levels while my script has different colors and different styles for every level, this way it will be much easyer to recognize the levels at first sight. Finally the origianl script only works with Forex while my script also works with indexes like SP500 and others.
Round Numbers are very important psychological levels in trading but also quarters levels (25 and 75) have a huge importance, so I created this script that shows all these levels with different colors and different lines style. You can edit the color and the style of the lines as you wish and you can add all the levels you want. In 1 hour chart 4 levels is usually enough but if you watch a daily chart then 8 levels is way better.
Features:
Personalize color to 00 round levels Personalize color to 50 round levels Personalize color to Quarters levels
Personalize line style to 00 round levels Personalize line style to 50 round levels Personalize line style to Quarters levels
Choose number of lines above and below price level (4 is default)
Hello Sir. I really like your indicator, I would like to know if it is possible to have the 20s and 80s level instead of every quarter (25). Thank you
Fricco
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@BuildWiseReturns, Im looking for the same thing jajaja, did you get one that plot whole, half, 20s and 80s ?
BuildWiseReturns
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@Fricco, nothing. You can try to modify his code. To get 20-40-60-80. But i'm not a coder, so i don't know how to do what I was looking for.
OTWhale
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Hello, thank you for this very useful indicator. I wonder if you could also add .125 level? I find that levels between quarters and whole/half numbers, the .125 / eight number, is also a good key level, price often reverses or pullbacks from this level. I've tried customizing your code, it kinda succeeds but sometimes the lines are not drawn properly..
Benadjoh
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Thanks for the nice indicator! I find that when you change lines to dash they keep changing back to solid.
DRAGONSTONECAPITAL
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AMAZING INDICATOR! Is there a way to set labels on the PRICE LINE/SCALE to denote the price for each level plot?
bluebeardit
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@GRNDMSTR_RA, Hi, thanks for your comment and your suggestion, I will see what I can do about it. Ciao
I really like your indicator, I would like to know if it is possible to have the 20s and 80s level instead of every quarter (25).
Thank you