Previous Close Percentage Ladder Compounding Levels

This indicator plots a dynamic percentage-based price ladder using the previous day’s closing price as the anchor. Levels are calculated in user-defined percentage increments and compound step-by-step rather than being measured only from the base price. This creates realistic expansion targets that better reflect how price moves during strong trend days.

Each session, the script automatically draws support and resistance levels above and below the prior close. Major percentage milestones (such as ±1%, ±2%, etc.) are visually emphasized with thicker lines, helping traders quickly identify high-probability reaction zones.

Labels display both the percentage move and the exact price level, making it ideal for intraday traders, options traders, and volatility-based strategies.

Key Features:

1. Uses previous daily close as the anchor
   
2. Compounding percentage levels (not flat offsets)
   
3. Customizable number of levels
   
4. User-controlled colors and line thickness
   
5. Major level highlighting at whole percent intervals
   
6. Automatic daily reset
   
7. Clean chart labeling with percent + price
   

Best For:
Intraday trading, SPY/QQQ index trading, options scalping, volatility expansion targets, and structured profit-taking.