OPEN-SOURCE SCRIPT
Daily/Weekly/Monthly Levels
## Daily/Weekly/Monthly Levels
Automatically draws horizontal levels where consecutive opposite candles meet on Daily, Weekly, and Monthly timeframes.
When a bullish candle is followed by a bearish candle (or vice versa), a level is plotted at their shared close/open — the exact price where momentum reversed.
### Features
- **Multi-timeframe**: Independent levels from Daily, Weekly, and Monthly candles
- **Remove on touch**: Levels automatically disappear once price revisits them
- **Merge nearby levels**: Clusters levels within a configurable % threshold into a single label, defaulting to the higher timeframe's color and line
- **Customizable**: Per-timeframe color, line style, width, and max level count
- **Clean labels**: Fixed-position labels at the chart's right edge that don't shift when zooming
### How it works
The indicator tracks consecutive candles on each higher timeframe. When two adjacent candles have opposite bodies (one bullish, one bearish), the close of the first candle — which equals the open of the second — marks a level where buyers and sellers exchanged control.
### Settings
| Setting | Default | Description |
|---|---|---|
| Label offset | 150 bars | Push labels past the right edge |
| Show Price | On | Include price in label text |
| Remove Touched | On | Remove levels once price crosses them |
| Merge Levels | On | Combine nearby levels into one label |
| Merge Threshold | 1% | Max distance for merging |
| Max Levels | 10 per TF | How many levels to keep per timeframe |
Automatically draws horizontal levels where consecutive opposite candles meet on Daily, Weekly, and Monthly timeframes.
When a bullish candle is followed by a bearish candle (or vice versa), a level is plotted at their shared close/open — the exact price where momentum reversed.
### Features
- **Multi-timeframe**: Independent levels from Daily, Weekly, and Monthly candles
- **Remove on touch**: Levels automatically disappear once price revisits them
- **Merge nearby levels**: Clusters levels within a configurable % threshold into a single label, defaulting to the higher timeframe's color and line
- **Customizable**: Per-timeframe color, line style, width, and max level count
- **Clean labels**: Fixed-position labels at the chart's right edge that don't shift when zooming
### How it works
The indicator tracks consecutive candles on each higher timeframe. When two adjacent candles have opposite bodies (one bullish, one bearish), the close of the first candle — which equals the open of the second — marks a level where buyers and sellers exchanged control.
### Settings
| Setting | Default | Description |
|---|---|---|
| Label offset | 150 bars | Push labels past the right edge |
| Show Price | On | Include price in label text |
| Remove Touched | On | Remove levels once price crosses them |
| Merge Levels | On | Combine nearby levels into one label |
| Merge Threshold | 1% | Max distance for merging |
| Max Levels | 10 per TF | How many levels to keep per timeframe |
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.