OPEN-SOURCE SCRIPT
Updated Previous Day Key Levels
# Previous Day Key Levels
Previous Day Key Levels automatically plots the key reference points I use to frame each trading day:
* Previous RTH High and Low
* Asia High and Low
* London High and Low
The indicator is designed to work on an RTH chart while still calculating the Asia and London ranges from extended-hours data. Each level is drawn as a clean horizontal reference with a named label and a matching price marker on the right axis.
## How to use it
These levels help organize the market into clear areas of potential reaction, acceptance, rejection, breakout, or failed breakout.
Previous Day High and Low are especially useful as major reference points for the current RTH session. Price holding above or below them can support a directional thesis, while tests and rejections can highlight potential reversals or rotational conditions.
Asia and London Highs/Lows provide additional intraday structure before and during New York trading. They can act as liquidity targets, breakout points, or areas where an early New York move may stall, reverse, or accelerate.
The Asia range updates when the Asia session ends, and the London range updates when London ends. Previous Day High/Low refresh for the next RTH session.
## Pairing with Volume Profile
This indicator is intended as a supporting structure tool—not a standalone entry signal.
For a fuller market read, pair it with a Volume Profile indicator that provides:
* POC: the session’s highest-volume price area
* VAH: Value Area High
* VAL: Value Area Low
When a key session level overlaps with POC, VAH, or VAL, that confluence can make the area more meaningful. For example:
* A Previous Day High near VAH may act as a more significant resistance or breakout-acceptance area.
* A Previous Day Low near VAL may become a higher-quality support or breakdown-rejection zone.
* An Asia or London extreme aligning with POC can highlight a potential magnet, decision point, or support/resistance area.
Use the levels alongside price action, market context, and volume behavior. They are reference points—not guarantees—and are most useful for forming a structured trade idea and defining risk around meaningful market locations.
Previous Day Key Levels automatically plots the key reference points I use to frame each trading day:
* Previous RTH High and Low
* Asia High and Low
* London High and Low
The indicator is designed to work on an RTH chart while still calculating the Asia and London ranges from extended-hours data. Each level is drawn as a clean horizontal reference with a named label and a matching price marker on the right axis.
## How to use it
These levels help organize the market into clear areas of potential reaction, acceptance, rejection, breakout, or failed breakout.
Previous Day High and Low are especially useful as major reference points for the current RTH session. Price holding above or below them can support a directional thesis, while tests and rejections can highlight potential reversals or rotational conditions.
Asia and London Highs/Lows provide additional intraday structure before and during New York trading. They can act as liquidity targets, breakout points, or areas where an early New York move may stall, reverse, or accelerate.
The Asia range updates when the Asia session ends, and the London range updates when London ends. Previous Day High/Low refresh for the next RTH session.
## Pairing with Volume Profile
This indicator is intended as a supporting structure tool—not a standalone entry signal.
For a fuller market read, pair it with a Volume Profile indicator that provides:
* POC: the session’s highest-volume price area
* VAH: Value Area High
* VAL: Value Area Low
When a key session level overlaps with POC, VAH, or VAL, that confluence can make the area more meaningful. For example:
* A Previous Day High near VAH may act as a more significant resistance or breakout-acceptance area.
* A Previous Day Low near VAL may become a higher-quality support or breakdown-rejection zone.
* An Asia or London extreme aligning with POC can highlight a potential magnet, decision point, or support/resistance area.
Use the levels alongside price action, market context, and volume behavior. They are reference points—not guarantees—and are most useful for forming a structured trade idea and defining risk around meaningful market locations.
Release Notes
Updated chartOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.