1Copy the scriptPress Copy script above, or the copy button on the code below.
2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
135 lines of Pine Script v5 from Tradingview/psych-levels.pine, published under MPL-2.0 (file header). Keep the author's credit and licence lines when you reuse it.
Psych Levels analyzes the close price's decimal length and mintick to compute baseline values for singles, tens, hundreds, and thousands zones. These levels are drawn as boxes or lines based on rounding calculations. Inputs allow toggling zones and setting colors in Group 1. The tool identifies potential support and resistance based on price structure but requires no special settings for use.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Zone 1
bool
false
group1_singles
group1_singlescolor
color
color.new(color.white, 80)
group1_singlescolor
Zone 2
bool
true
group1_tens
group1_tenscolor
color
color.new(color.white, 90)
group1_tenscolor
Zone 3
bool
false
group1_hundreds
group1_hundredscolor
color
color.new(color.white, 93)
group1_hundredscolor
Zone 4
bool
false
group1_thousands
group1_thousandscolor
color
color.new(color.white, 97)
group1_thousandscolor
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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