Rounded Price Levels from the Prior Close

Summary

This chart indicator marks the nearest rounded price levels around the prior close. A configurable level size determines the spacing, allowing decimal increments that can suit instruments such as forex pairs. A skip setting adds further levels above and below the nearest pair, and the indicator displays the marks on the current bar.

The calculation divides the prior close by the level size, rounds that quotient, then uses the result to determine the adjacent lower and upper multiples. Additional marks are generated by adding or subtracting multiples of the level size. The supplied code initializes the bounds and updates them when price moves outside them. This is a display aid for locating round-number areas, not a tested entry or exit strategy. The document gives no evidence that these levels predict price reactions, and it does not specify how users should choose the level size or interpret a touch. A privacy notice appended to the source is unrelated to the indicator’s trading use.

Key ideas

• The indicator locates the nearest lower and upper multiples of a configurable price increment around the prior close.
• The increment can be a decimal value for use with instruments such as forex pairs.
• A skip parameter adds more levels at equal increments above and below the nearest pair.
• The displayed levels are reference points, and the document does not establish their predictive value.

Tags

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