Price Magnets M5

Price Magnet — Price Density and Attraction Levels Indicator

Price Magnet is a professional analytical tool designed to identify key support and resistance levels based on statistical Price Density.

The indicator analyzes a specified historical period and detects price levels where the market spent the most time. These zones act as “magnets,” attracting price action or forming a structural base for potential reversals.

Unlike traditional Volume Profile tools, Price Magnet focuses on price-time density rather than traded volume. This makes it especially useful for instruments where real exchange volume data is unavailable, allowing traders to identify psychological equilibrium levels purely from price behavior.

🔧 Input Parameters

• AnalysisDepth — Number of bars used for density calculation.

• BackShift — Shifts the analysis window back into history.

• GroupingStep — Price grouping step (granularity), determining level precision.

• PriceSource — Type of price used in calculations (Close, Median, Typical, etc.).

• LevelsToDisplay — Number of strongest levels to display (up to 10).

• LevelLineColor / Width — Visual settings for level lines.

• ShowDensityZone — Displays the bounding box of the analyzed range.

• ShowDensityLines — Enables or disables magnet level visualization.

• ObjectPrefix — Unique prefix for graphical objects (allows running multiple instances simultaneously).