OPEN-SOURCE SCRIPT
Multi-Timeframe High/Low Levels by VKK
Disclaimer: This indicator is not suggesting any buy or sell. It's only showing various support and resistance at the different timeframe. Use your strategies to do the trades
Overview
The Multi-Timeframe High/Low Levels indicator is a streamlined technical analysis tool designed to automatically plot critical horizontal support and resistance levels from higher timeframes onto your current chart.
In professional trading, the Highs and Lows of the Previous Day, Week, and Month are considered "Institutional Reference Points." These levels often act as magnets for price and are zones where significant liquidity rests (Stop Losses and Breakout Orders).
Key Features
Previous Month High/Low (PMH/PML): Identifies major trend boundaries and long-term bias.
Previous Week High/Low (PWH/PWL): Essential for swing traders to find weekly ranges.
Previous Day High/Low (PDH/PDL): Crucial for day traders looking for "Initial Balance" or "Opening Range" breakouts/reversals.
Clean Visualization: Uses plot.style_linebr to ensure levels stay horizontal and don't create messy diagonal "connection" lines.
Real-time Labels: Dynamic labels appear on the far right of the chart for instant identification of which level is which.
Why Use These Levels?
Liquidity Sweeps: Watch for price to "dip" just below a Previous Day Low before reversing—this is often a "Stop Run" before a move higher.
Breakout Confirmation: Closing above a Previous Week High often signals strong bullish momentum.
Gap Analysis: See where today's open sits in relation to yesterday's range.
How to Customize
Toggle Visibility: Independently turn on/off Monthly, Weekly, or Daily levels.
Color Coding: Fully customizable colors to match your chart theme (e.g., Red for Resistance/Highs, Green for Support/Lows).
Style Control: Adjust line thickness and label size for better visibility on high-resolution monitors.
Overview
The Multi-Timeframe High/Low Levels indicator is a streamlined technical analysis tool designed to automatically plot critical horizontal support and resistance levels from higher timeframes onto your current chart.
In professional trading, the Highs and Lows of the Previous Day, Week, and Month are considered "Institutional Reference Points." These levels often act as magnets for price and are zones where significant liquidity rests (Stop Losses and Breakout Orders).
Key Features
Previous Month High/Low (PMH/PML): Identifies major trend boundaries and long-term bias.
Previous Week High/Low (PWH/PWL): Essential for swing traders to find weekly ranges.
Previous Day High/Low (PDH/PDL): Crucial for day traders looking for "Initial Balance" or "Opening Range" breakouts/reversals.
Clean Visualization: Uses plot.style_linebr to ensure levels stay horizontal and don't create messy diagonal "connection" lines.
Real-time Labels: Dynamic labels appear on the far right of the chart for instant identification of which level is which.
Why Use These Levels?
Liquidity Sweeps: Watch for price to "dip" just below a Previous Day Low before reversing—this is often a "Stop Run" before a move higher.
Breakout Confirmation: Closing above a Previous Week High often signals strong bullish momentum.
Gap Analysis: See where today's open sits in relation to yesterday's range.
How to Customize
Toggle Visibility: Independently turn on/off Monthly, Weekly, or Daily levels.
Color Coding: Fully customizable colors to match your chart theme (e.g., Red for Resistance/Highs, Green for Support/Lows).
Style Control: Adjust line thickness and label size for better visibility on high-resolution monitors.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que cualquier republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no constituyen, ni deben considerarse como, asesoramiento o recomendaciones financieras, de inversión, de trading u otro tipo, proporcionadas o respaldadas por TradingView. Obtenga más información en Condiciones de uso.