Adaptive Horizontal Chart Grids with Round-Number Levels

Summary

This document describes a chart indicator that draws evenly spaced horizontal levels and adapts their count when the chart’s vertical scale changes. It distinguishes levels aligned with round-number prices from secondary lines placed between them, using separate colors to make the two groups easier to tell apart. Users can change the colors and adjust the line spacing, the number of secondary lines, and whether labels for the primary levels appear on the price scale.

The indicator is a display aid for organizing price levels; it does not specify entry rules, exits, or evidence that the lines predict price movement. Its spacing is described as independent of the selected symbol and chart scale, while the visible set changes with the scale. The instructions also recommend disabling the platform’s standard grid to avoid visual overlap and explain that object descriptions can serve as an alternate way to show line labels. No performance results or trading tests are provided.

Key ideas

• The indicator lays out evenly spaced horizontal price levels and adjusts the visible set as the vertical chart scale changes.
• Primary lines mark round-number levels, while secondary lines fill the gaps between them.
• Users can configure line density, secondary-line count, colors, and primary-level labels.
• The document presents a visualization tool and supplies no evidence that its levels forecast prices.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.