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Indicators

Previous Day and Week High Low Levels - indicator for MetaTrader 5

Dragos Mihai Ofrim
Dragos Mihai Ofrim

Dragos Mihai Ofrim

4.5 (6)
DuoFX Labs: trading tools for MetaTrader 5 and MetaTrader 4
We build the tools we use ourselves: fast, clean and honest about what they do. Every product ships for both MT5 and MT4 from the same code, is tested on live charts before release, and gets updates when traders ask for something.
10 products 1 signal 6 codes
Views:
96
Published:
PrevLevels.mq5 (4.15 KB) view
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Previous Day and Week High Low Levels

Many traders watch yesterday's and last week's extremes and the daily open as reference levels for breakouts, rejections and targets. This indicator draws them on any chart timeframe:

  • PDH / PDL: previous day high and low
  • PWH / PWL: previous week high and low
  • Open: today's open

Each line has a small label with its name and price, kept just to the right of the last candle. The levels come from the D1 and W1 bars of the symbol, so a "day" is the broker's server day. They are recalculated when a new D1 bar opens and use only completed days and weeks, so they do not repaint during the day. If D1 or W1 history is still loading, the indicator waits for the next tick and draws then.

All lines and labels are removed when the indicator is taken off the chart.

Inputs

InputDefaultWhat it does
Previous day high/low colourDodger bluePDH and PDL colour
Previous week high/low colourGoldenrodPWH and PWL colour
Today's open colourSilverOpen line colour
Show previous weektrueDraw PWH and PWL
Show today's opentrueDraw the open line
Line styleDotStyle of all lines
Line width1Width of all lines
Show labelstrueName and price next to each line
Label font size8Label text size
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