Big Round Number for GOLD (XAU/USD)
This is simple indicator to show BRN (Big Round Number) on price level, it can use to help analyze the price action on the chart.
Release Notes:
"big round number" refers to price levels that end in multiple zeros, this indicator make base on 25 point multiple. These levels often serve as psychological barriers and can attract significant attention from traders.
These round numbers are considered significant because they are easier to remember and are often used as support or resistance levels by traders. For instance, when a currency pair approaches a big round number, there might be increased trading activity as traders anticipate potential price reactions around these levels.
However, while these levels can sometimes act as support or resistance, they don't always guarantee a specific price movement. Traders often use other technical analysis tools and indicators in combination with these levels to make more informed trading decisions.
These round numbers are considered significant because they are easier to remember and are often used as support or resistance levels by traders. For instance, when a currency pair approaches a big round number, there might be increased trading activity as traders anticipate potential price reactions around these levels.
However, while these levels can sometimes act as support or resistance, they don't always guarantee a specific price movement. Traders often use other technical analysis tools and indicators in combination with these levels to make more informed trading decisions.
Release Notes:
Notes: This BRN Indicator, only work for GOLD (XAU/USD) Chart
"big round number" refers to price levels that end in multiple zeros, this indicator make base on 25 point multiple. These levels often serve as psychological barriers and can attract significant attention from traders.
These round numbers are considered significant because they are easier to remember and are often used as support or resistance levels by traders. For instance, when a currency pair approaches a big round number, there might be increased trading activity as traders anticipate potential price reactions around these levels.
However, while these levels can sometimes act as support or resistance, they don't always guarantee a specific price movement. Traders often use other technical analysis tools and indicators in combination with these levels to make more informed trading decisions.
"big round number" refers to price levels that end in multiple zeros, this indicator make base on 25 point multiple. These levels often serve as psychological barriers and can attract significant attention from traders.
These round numbers are considered significant because they are easier to remember and are often used as support or resistance levels by traders. For instance, when a currency pair approaches a big round number, there might be increased trading activity as traders anticipate potential price reactions around these levels.
However, while these levels can sometimes act as support or resistance, they don't always guarantee a specific price movement. Traders often use other technical analysis tools and indicators in combination with these levels to make more informed trading decisions.