OPEN-SOURCE SCRIPT
Every $5 (3 Up, 3 Down) GOLD only
Description:
This indicator plots customizable horizontal lines spaced every $5 on the XAUUSD chart, with exactly 3 lines above and 3 lines below the nearest $5 level from the current price.
Key Features:
Line Spacing: The lines are plotted at $5 intervals starting from the nearest whole $5 price below the current price (e.g., $1900, $1905, etc.).
Customizable Line Color: Users can select the color of the lines via the indicator settings, making it adaptable to different chart themes and styles.
Customizable Line Style: The indicator allows you to choose from the following line styles:
Solid: Continuous line.
Dashed: Dashed line for a more discrete visual.
Dotted: Dotted line for minimalistic visibility.
Visibility Control: The indicator limits the number of lines to 3 above and 3 below the current price, keeping the chart clean and uncluttered while providing key levels of interest.
Use Cases:
Support and Resistance Identification: Easily spot key psychological levels in $5 increments, useful for identifying potential support or resistance zones in XAUUSD trading.
Price Action Monitoring: Traders can visually track how XAUUSD interacts with specific price levels spaced by $5 increments.
Customization Options:
Color Selection: Modify the line color to match your chart theme or highlight important levels.
Line Style: Select between solid, dashed, or dotted lines to customize the look of your chart.
This indicator is ideal for XAUUSD traders looking for clear, customizable visual levels on their charts to aid in decision-making, whether you're tracking price action or setting targets for entry and exit.
This indicator plots customizable horizontal lines spaced every $5 on the XAUUSD chart, with exactly 3 lines above and 3 lines below the nearest $5 level from the current price.
Key Features:
Line Spacing: The lines are plotted at $5 intervals starting from the nearest whole $5 price below the current price (e.g., $1900, $1905, etc.).
Customizable Line Color: Users can select the color of the lines via the indicator settings, making it adaptable to different chart themes and styles.
Customizable Line Style: The indicator allows you to choose from the following line styles:
Solid: Continuous line.
Dashed: Dashed line for a more discrete visual.
Dotted: Dotted line for minimalistic visibility.
Visibility Control: The indicator limits the number of lines to 3 above and 3 below the current price, keeping the chart clean and uncluttered while providing key levels of interest.
Use Cases:
Support and Resistance Identification: Easily spot key psychological levels in $5 increments, useful for identifying potential support or resistance zones in XAUUSD trading.
Price Action Monitoring: Traders can visually track how XAUUSD interacts with specific price levels spaced by $5 increments.
Customization Options:
Color Selection: Modify the line color to match your chart theme or highlight important levels.
Line Style: Select between solid, dashed, or dotted lines to customize the look of your chart.
This indicator is ideal for XAUUSD traders looking for clear, customizable visual levels on their charts to aid in decision-making, whether you're tracking price action or setting targets for entry and exit.
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 publication is governed by House rules. You can favorite it to use it on a chart.
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Disclaimer
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