Plotting Nearby Rounded Price Levels from the Previous Close

Summary

This indicator marks the nearest price levels that are multiples of a user-selected interval. It uses the previous close to determine the enclosing rounded levels, then draws markers at those levels on the current chart bar. A level interval of 100 is given as an example, producing levels such as 13,000 and 13,100. The interval is adjustable for different instruments, and a skips setting adds further levels above and below the nearest pair.

The document describes a charting aid rather than a trading system: it does not define entry, exit, or risk rules, and it reports no backtest or evidence that rounded prices act as support or resistance. The supplied version is described as adjusted for compatibility with ProRealTime version 11. Its method is a straightforward way to visualize price increments around the prior close; traders would need independent analysis to assess whether those levels matter for a particular market or timeframe.

Key ideas

• The indicator calculates the rounded price levels surrounding the previous close.
• A configurable interval determines the spacing between plotted levels.
• The skips setting adds successive levels farther above and below the nearest pair.
• The tool visualizes price references but does not specify a trading strategy or validate their predictive value.

Tags

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