OPEN-SOURCE SCRIPT
Psychological Levels + PDH/PDL + PWH/PWL
Psychological Levels + PDH/PDL + PWH/PWL
This professional indicator combines three of the most powerful key zone concepts in Forex trading into one clean, fully customizable tool. Instead of using multiple separate indicators, you get psychological price levels, Previous Day High/Low and Previous Week High/Low all in one place — perfectly designed for confluence-based trading strategies.
📊 What's included:
🔘 Psychological Levels (1000 / 100 / 50 / 25 / 10 pip steps)
Psychological levels are price zones where human psychology naturally causes order clustering. Banks, institutions and retail traders all monitor the same round numbers — making these levels self-fulfilling support and resistance zones. Each level type has its own color, zone width and line style settings and can be toggled on or off independently.
🔵 PDH / PDL — Previous Day High & Low
The most watched intraday reference points in professional Forex trading. The line starts exactly at the candle where the previous day's high or low was formed and extends to the current bar. Institutional traders use these levels for bias, stop placement and profit targets. On GBP/USD and other volatile pairs, PDH/PDL are frequently used as magnets for price during the London and New York sessions.
🔷 PWH / PWL — Previous Week High & Low
The strongest reference levels for weekly bias and multi-day trade planning. The line starts at the exact candle of the previous week's high or low and extends through the current week. A break and hold above PWH is a strong bullish signal. A rejection at PWH or PWL combined with a psychological level creates a very high-confluence setup.
💡 How to use this indicator:
Add the indicator to your GBP/USD or any other Forex chart
Enable the psychological levels that fit your timeframe (100 and 50 pip for day trading, 25 and 10 pip for scalping)
Mark where PDH/PDL and PWH/PWL sit relative to psychological levels
Look for confluence — when PDH aligns with a 100-pip level, that zone is significantly stronger
Wait for a price action trigger (engulfing candle, break of structure) at the confluence zone
Place your stop loss beyond the full zone, target the next key level with minimum 1:2 R:R
🎯 Best confluence combinations:
PDH/PDL + psychological level = strong intraday zone
PWH/PWL + psychological level = strong multi-day zone
PDH + PWH + psychological level = extremely high-probability setup
Any of the above + VWAP = institutional-grade confluence
⚙️ Customization:
Every element is fully adjustable. Colors, line styles (solid, dashed, dotted), line thickness and zone widths can all be set independently. Labels for PDH/PDL and PWH/PWL can be toggled on or off. The indicator automatically detects JPY pairs and adjusts pip calculations accordingly.
📋 Technical details:
Pine Script v6
Compatible with all Forex pairs (majors, minors, exotics)
Works on all timeframes from M1 to Weekly
Maximum 500 lines and 500 boxes for optimal performance
No repainting — levels are fixed once the session closes
Optimized calculation within visible price range for smooth performance
👤 Ideal for:
Day traders and scalpers who trade GBP/USD, EUR/USD or other major pairs on the 5-minute to 1-hour timeframe and want a clean, structured way to identify the most important price zones without cluttering their chart.
This professional indicator combines three of the most powerful key zone concepts in Forex trading into one clean, fully customizable tool. Instead of using multiple separate indicators, you get psychological price levels, Previous Day High/Low and Previous Week High/Low all in one place — perfectly designed for confluence-based trading strategies.
📊 What's included:
🔘 Psychological Levels (1000 / 100 / 50 / 25 / 10 pip steps)
Psychological levels are price zones where human psychology naturally causes order clustering. Banks, institutions and retail traders all monitor the same round numbers — making these levels self-fulfilling support and resistance zones. Each level type has its own color, zone width and line style settings and can be toggled on or off independently.
🔵 PDH / PDL — Previous Day High & Low
The most watched intraday reference points in professional Forex trading. The line starts exactly at the candle where the previous day's high or low was formed and extends to the current bar. Institutional traders use these levels for bias, stop placement and profit targets. On GBP/USD and other volatile pairs, PDH/PDL are frequently used as magnets for price during the London and New York sessions.
🔷 PWH / PWL — Previous Week High & Low
The strongest reference levels for weekly bias and multi-day trade planning. The line starts at the exact candle of the previous week's high or low and extends through the current week. A break and hold above PWH is a strong bullish signal. A rejection at PWH or PWL combined with a psychological level creates a very high-confluence setup.
💡 How to use this indicator:
Add the indicator to your GBP/USD or any other Forex chart
Enable the psychological levels that fit your timeframe (100 and 50 pip for day trading, 25 and 10 pip for scalping)
Mark where PDH/PDL and PWH/PWL sit relative to psychological levels
Look for confluence — when PDH aligns with a 100-pip level, that zone is significantly stronger
Wait for a price action trigger (engulfing candle, break of structure) at the confluence zone
Place your stop loss beyond the full zone, target the next key level with minimum 1:2 R:R
🎯 Best confluence combinations:
PDH/PDL + psychological level = strong intraday zone
PWH/PWL + psychological level = strong multi-day zone
PDH + PWH + psychological level = extremely high-probability setup
Any of the above + VWAP = institutional-grade confluence
⚙️ Customization:
Every element is fully adjustable. Colors, line styles (solid, dashed, dotted), line thickness and zone widths can all be set independently. Labels for PDH/PDL and PWH/PWL can be toggled on or off. The indicator automatically detects JPY pairs and adjusts pip calculations accordingly.
📋 Technical details:
Pine Script v6
Compatible with all Forex pairs (majors, minors, exotics)
Works on all timeframes from M1 to Weekly
Maximum 500 lines and 500 boxes for optimal performance
No repainting — levels are fixed once the session closes
Optimized calculation within visible price range for smooth performance
👤 Ideal for:
Day traders and scalpers who trade GBP/USD, EUR/USD or other major pairs on the 5-minute to 1-hour timeframe and want a clean, structured way to identify the most important price zones without cluttering their chart.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun auch andere Trader das Script rezensieren und die Funktionalität überprüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden, aber eine Wiederveröffentlichung des Codes unterliegt unseren Hausregeln.
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.