Psychological Price Level - Prime Trading

2 days agoThis Pine Script is designed for the TradingView platform to display **Psychological Price Levels (PPLs)** on the chart. These levels represent key price zones, such as round numbers (e.g., 1.000, 1.500), which traders often consider as significant support or resistance levels.

### Main Features:
1. **PPL Level Calculation:**
- The script calculates and plots psychological price levels above and below the current price based on the instrument's tick size.
- It can plot multiple levels determined by the user through inputs.

2. **Visual Representation:**
- Each PPL level is shown as a horizontal line, styled according to user preferences (solid, dotted, or dashed), with a customizable color and width.

3. **Highlighting Levels with Boxes:**
- A semi-transparent colored box surrounds each PPL level, highlighting these zones visually.
- The color and size of the box can be adjusted, with a default color close to `#9FA5B8` (a light blue-gray), and 90% transparency to blend into the background.

4. **Customization:**
- Users can customize the number of PPLs plotted, the style of the lines, box color, and line thickness, making the levels adaptable to different chart setups.

In summary, this script helps traders quickly identify key psychological price levels on the chart, aiding decision-making by highlighting these important zones.

2 days ago

Release Notes

This Pine Script is designed for the TradingView platform to display **Psychological Price Levels (PPLs)** on the chart. These levels represent key price zones, such as round numbers (e.g., 1.000, 1.500), which traders often consider as significant support or resistance levels.

### Main Features:
1. **PPL Level Calculation:**
- The script calculates and plots psychological price levels above and below the current price based on the instrument's tick size.
- It can plot multiple levels determined by the user through inputs.

2. **Visual Representation:**
- Each PPL level is shown as a horizontal line, styled according to user preferences (solid, dotted, or dashed), with a customizable color and width.

3. **Highlighting Levels with Boxes:**
- A semi-transparent colored box surrounds each PPL level, highlighting these zones visually.
- The color and size of the box can be adjusted, with a default color close to `#9FA5B8` (a light blue-gray), and 90% transparency to blend into the background.

4. **Customization:**
- Users can customize the number of PPLs plotted, the style of the lines, box color, and line thickness, making the levels adaptable to different chart setups.

In summary, this script helps traders quickly identify key psychological price levels on the chart, aiding decision-making by highlighting these important zones.