Foreign Currency Psychological Resistance — Indicator by yalla-yalla-habibi

supportandresistance psychologicalroundnumber psychology psychologicallevel psychological psychologicalline forex bitcoinusd roundnumber

Thought it would be interesting to look into psychological barriers (round numbers) denominated in foreign currencies and see where those barriers show up on a USD chart.

I did a couple of quick and superficial Internet searches to get an idea of which USD pairs are being used the most to trade Bitcoin. My conclusion is that the most relevant currencies are the Chinese Renminbi and the Brazilian Real.

Based on that, I wrote this little indicator that uses the exchange rate from the USD pairs (USDCNY, USDBLR) and the round number targets to come up with the corresponding USD price levels.

Release Notes:

add euro & minor inputs reordering

Release Notes:

15D resolution

Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

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