Smart Index Levels — GSK-VIZAG-AP-INDIA

📌 Smart Index Levels — GSK-VIZAG-AP-INDIA

Smart Index Levels is a versatile support and resistance plotting tool designed for intraday, weekly, and monthly analysis.
It automatically generates key price zones based on user-defined step sizes, helping traders visualize important market levels more clearly.

🔹 Features

Daily / Weekly / Monthly Modes

Switch easily between daily, weekly, or monthly reference levels.

Customizable Level Steps

Choose step intervals of 50 or 100 points for cleaner index-based zones.

Support & Resistance Zones

Auto-draws multiple support and resistance levels around the opening base price.

Mid-Level Marking

Highlights the nearest “mid” price level for balance reference.

Weekly High/Low Tracking (Optional)

Plots dynamic weekly high & low levels with dotted lines.

Monthly High/Low Tracking (Optional)

Displays monthly high & low levels for broader market context.

Custom Market Session Timing

Define your own market open and close times.

Line Style & Colors

Fully customizable line styles (solid, dashed, dotted) and colors.

⚙️ How It Works

At the start of the selected session (daily, weekly, or monthly), the script identifies the opening reference price.

From this base, it calculates and draws support and resistance levels at fixed step intervals.

Optionally, it overlays weekly and monthly high/low levels for additional perspective.

This provides a structured price map that helps you quickly spot potential reaction zones, without cluttering the chart.

🖥️ Best Use Cases

Intraday index traders who want quick reference levels (Nifty, BankNifty, etc.)

Swing traders who prefer weekly and monthly zones for context.

Anyone looking for clean, rule-based support/resistance plotting.

⚠️ Disclaimer

This indicator is for educational and informational purposes only.
It does not provide financial advice or trading signals. Always use in combination with your own analysis and risk management.