Plotting Nearby Round-Number Price Levels

Summary

The indicator marks round-number price levels nearest to the current price, drawing levels both above and below it. Its inputs let users set the rounding scale, the number of repeated level sets, and the colors, line styles, and widths used to distinguish the upper and lower levels.

The document describes how to configure the display, but gives no entry rules, market examples, performance evidence, or guidance on interpreting the levels. Treat the plotted lines as visual reference points rather than a tested trading strategy; the document does not establish that price reacts to them.

Key ideas

• The indicator plots round-number levels above and below the current price.
• The rounding scale and number of displayed level sets are configurable.
• Users can style the upper and lower levels separately.
• The document provides no evidence that these levels predict price behavior.

Tags

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