RelicusRoad Daily High Low MT4
- Indicators
- Version: 2.297
- Activations: 10
RelicusRoad Daily High Low is a previous day high and low indicator for MetaTrader 4 and MetaTrader 5 that marks yesterday's high and low and today's open on every bar of an intraday chart.
The three levels are drawn as colored dot series that step to new values when a new period starts, with small High, Low and Open tags at the end of each period. On charts from H1 to H4 the same markers show last week's range and this week's open instead, and on D1 they show the monthly equivalents.
How it works
For each bar on the chart the indicator finds the reference period that contains it. The High and Low markers take the high and low of the period before that one, and the Open marker takes the open of the period the bar belongs to. The reference period follows the chart timeframe unless you choose one yourself.
- Below H1: daily reference: the previous day's high and low, and the current day's open.
- H1 to H4: weekly reference: the previous week's high and low, and the current week's open.
- D1: monthly reference: the previous month's high and low, and the current month's open.
- W1 and MN1: nothing is drawn on these charts.
Period boundaries follow your broker's server time, as the platform's own daily, weekly and monthly bars do. There is no time zone offset input. The markers are recalculated when a new bar opens rather than on every tick.
What it draws
- High: the previous period's high as a green dot series.
- Low: the previous period's low as an orange dot series.
- Open: the current period's open as a blue dot series.
- Period tags: the words High, Low and Open in matching colors at the last bars of each finished period.
- Live tags: the same three words placed two bars to the right of the current bar.
- Three indicator buffers: DHLO High, DHLO Low and DHLO Open, one value per bar.
Reading the chart
Within one day on an M15 chart the green and orange dots stay flat at yesterday's extremes and the blue dots stay flat at today's opening price. At the server's day change all three step to their new values, and the day that just ended keeps its tags at its right edge, so earlier days remain easy to read back.
Price trading between the two dotted extremes is still inside yesterday's range. Price above the green dots or below the orange ones has moved outside it. The blue Open shows at a glance whether the current session is up or down so far.
The markers are not extended into empty space to the right of price. Only the small tags sit two bars ahead of the live bar.
Inputs
Calculation:
- Timeframe: the reference period; Current picks daily, weekly or monthly from the chart timeframe as described above.
- Bar History: how many chart bars are calculated, 3000 by default and at most 5000.
Appearance:
- High Color, Low Color and Open Color: green, orange and blue by default; each color also applies to its tag.
- High Width, Low Width and Open Width: the dot size of each series, 1 by default.
Recommended use
Suited to forex, gold (XAUUSD), indices, stocks and crypto on intraday charts. Use M1 to M30 when you want daily levels, or keep H1 to H4 for weekly ones. If you want daily levels on an H1 chart, set Timeframe to D1.
Common questions
Is the Open yesterday's open? No. It is the open of the current day, or of the current week or month when that is the reference. Only the High and Low come from the previous period.
Why do my levels on H1 not match yesterday's candle? With Timeframe on Current, charts from H1 to H4 use the weekly reference. Choose D1 in the Timeframe input to see daily levels there.
Can I hide one of the three levels? No. All three series and their tags are always drawn. You can change their colors and dot sizes.
Does it work on a weekly chart? No. The indicator draws nothing on W1 and MN1 charts.
About and support
The daily high, low and open markers are one of the reference level modules in RelicusRoad Pro, offered separately as a light addition to an intraday chart. It runs standalone.
Questions and support are handled in the product comments and through the mql5.com messaging system.
