OPEN-SOURCE SCRIPT
Updated 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.
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.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.