Four hour open line with high mid low
- Indicatori
- Versione: 1.0
📊 4H Open Line Indicator - Settings Overview
This custom indicator is used to draw and visualize the opening price, midline, and high/low ranges of 4-hour candles on smaller timeframes. It's particularly useful for intraday traders who want to see higher-timeframe levels.
🔧 Indicator Inputs and Descriptions
| Parameter | Value | Description |
|---|---|---|
| OpenLineColor | White | Color of the line indicating the open price of the 4H candle. |
| OpenLineWidth | 1 | Width of the open price line. |
| OpenLineStyle | Solid | Line style (Solid) for the open line. |
| ShowMidLine | true | Enables the display of a midline between the high and low. |
| MidLineColor | Yellow | Color of the midline. |
| MidLineWidth | 1 | Width of the midline. |
| MidLineStyle | Dash | Line style for the midline (Dashed). |
| ShowHighLow | true | Enables visualization of the high and low of the 4H candle. |
| HighLineColor | Lime | Color for the high line. |
| LowLineColor | Red | Color for the low line. |
| HighLowLineWidth | 1 | Width of the high and low lines. |
| HighLowLineStyle | Dot | Dotted style for high/low lines. |
| ShowLabels | true | Toggles on/off the display of price labels. |
| LabelFont | Arial | Font used for displaying price level labels. |
| LabelFontSize | 10 | Font size for labels. |
| LabelColor | White | Color of the price labels. |
| Max4HCandles | 1 | Number of past 4H candles to analyze and draw levels from (set to 1). |
📌 Use Case
This indicator is ideal for:
-
Intraday traders seeking precision entry/exit based on H4 levels.
-
Breakout strategies where open/high/low levels are critical.
-
Support and resistance mapping from a higher timeframe.
Perfect, just what I was looking for, does exactly what it says it does. The 50% level is an added bonus. I use it without the hi and lo levels personally.