Physical Levels (XAUUSD, 5$ Pricesteps)

13 Dis 2024

Functionality:
This indicator draws horizontal lines in the XAUUSD market at a fixed spacing of USD 5. The lines are both above and below the current market price. The number of lines is limited to optimize performance.

Use:
The indicator is particularly useful for traders who want to analyze psychological price levels, support and resistance areas, or significant price zones in the gold market. It helps to better visualize price movements and their proximity to round numbers.

How it works:

1. The indicator calculates a starting price based on the current price of XAUUSD, rounded to the nearest multiple of USD 5.
   
2. Starting from this starting price, evenly distributed lines are drawn up and down.
   
3. The lines are black throughout and are updated dynamically according to the current chart.
   

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🆕 Update: Enhanced Physical Levels in XAUUSD Indicator
This update introduces several improvements for greater flexibility and visual clarity when using the indicator:

✅ What's New:
Multiple Price Level Intervals:
You can now display horizontal lines at intervals of $5, $10, and $25—individually or all at once.

Customizable Line Colors:
Each interval category has its own customizable color setting, using TradingView’s built-in color palette. This allows for better visual distinction between levels.

User-Friendly Controls:
All new features are configurable via the indicator’s settings panel, including:

Enabling/disabling specific intervals

Choosing individual colors

Setting the maximum number of lines per category (default: 20)

🔧 Other Improvements:
Improved logic for determining the base price level closest to the current market price.

Optimized performance by limiting the number of lines drawn.

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Updated Picture to showcase

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Fully translated in English

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🔧 Update: Improved Level Alignment Logic
We've fine-tuned the logic for how horizontal levels are positioned on the Physical Levels in XAUUSD indicator to ensure greater price precision and consistency.

🆕 What's Changed:
$5 Levels now align to prices like 3275, 3280, 3285, ...
→ Nearest multiples of 5, starting from the closest to the current price.

$10 Levels now align to prices like 3270, 3280, 3290, ...
→ Clean multiples of 10 on whole numbers.

$25 Levels now align to prices like 3200, 3225, 3250, ...
→ Starting from the closest multiple of 25 for better macro-level structure.

This change improves the visual clarity and practical alignment with round-number psychological levels often used by traders.