HighLow Alarm

The HighLow Alarm indicator automatically displays the High and Low values of the previous trading day on your chart. This tool helps you visually assess key daily levels, from which the price often bounces or which it breaks, and it works on any timeframe.

How It Works

The indicator accesses the daily timeframe (D1) data and, for each bar on the current chart, calculates the High and Low of the previous daily session. The result is displayed as two horizontal lines:

• Green line — The High level of the previous day.

• Red line — The Low level of the previous day.

The lines are extended to the right, allowing you to assess the distance to the level in real-time.

Features and Benefits

• Instant Situation Assessment: No more switching to the daily chart to see important levels.

• Visual Hints: The colored lines (green/red) are intuitively understandable and do not clutter the chart.

• Versatility: Works on all timeframes (from M1 to MN) and all trading instruments (Forex, stocks, cryptocurrencies, futures).

• Accuracy: The indicator automatically adjusts for weekends and holidays, always showing the level of the last completed day.

Input Parameters

The indicator requires no complex setup and is ready to use immediately after being attached to a chart.

Application Guide

1. Attach the indicator to any chart (EURUSD, GBPUSD, Bitcoin, etc.).

2. The green line will show you yesterday's high, the red line — yesterday's low.

3. Use these levels for:

   • Finding Entry Points: Buying near the Low level (red line) or selling near the High level (green line).

   • Setting Targets (Take-Profit): For example, when moving from the Low level, a target could be at the High level.

   • Trend Strength Assessment: If the price confidently breaks through yesterday's High, it may indicate a strong upward movement.