Key Levels - PDH PDL PWH PWL & ADR Statistics [Dots3Red]
📍 KEY LEVELS - PDH PDL PWH PWL & ADR STATISTICS [Dots3Red]
This indicator draws the previous day's high and low, the previous week's high and low, and the Average Daily Range (ADR), and measures how often each level held or broke when price first tested it on the current chart, shown as percentages with the sample size next to them.
✨ WHY THIS MATTERS
Previous day and week highs and lows are among the most watched levels in intraday trading. Some traders fade them, others trade the break. Which approach fits depends on the instrument: some markets reject these levels far more often than they break them, others run straight through. This script keeps a scoreboard per level, so you can see how they have actually behaved on your chart.
⚙️ HOW IT WORKS
📐 The levels — PDH, PDL, PWH and PWL are built from the chart's own bars, so they follow the same session the chart shows. Each level is drawn as a clean step that moves at the start of each new day or week.
📏 ADR — the average range of the last N completed days. The dashboard shows how much of that range today has already used, and optional projection lines show where today's high or low would be if today ends up an average-range day.
🎯 First-test grading — only the first test of each level per period counts. From the bar after the test, it is graded against the level and ATR frozen at that moment:
• Held — price moves a set ATR distance back away from the level
• Broke — a bar closes a set ATR distance beyond the level
• Undecided — neither happens within the resolve window
If hold and break happen on the same bar, it counts as broken. If a period opens beyond a level (a gap), that level is skipped for the period, since it was never tested from the inside.
🔒 Non-repainting — levels come from completed days and weeks, and tests are registered and graded on confirmed bars only. The ADR value uses completed days only.
🖥️ Dashboard — price, tests, held % and broke % for each level, plus ADR and how much of it today has used.
🧭 HOW TO USE
1️⃣ Read held and broke together. They add up to 100% minus the undecided tests. A level with high held and low broke has tended to reject on this chart; the reverse means it has tended to run.
2️⃣ Compare daily vs weekly. Weekly levels are tested less often, but many instruments respect them more strongly.
3️⃣ Use ADR for context on extension. A test of PDH when today has already used 100% of its ADR is a different situation from the same test at 40%.
4️⃣ Tune the hold and break distances to your style. A tighter break threshold counts more tests as breaks; a larger hold distance asks more of a rejection.
5️⃣ Use it as context, not a trigger. The rates describe how these levels have behaved on this chart. They do not predict the next test.
⏱️ WHICH TIMEFRAMES WORK BEST
Daily levels need an intraday chart, 5-minute through 1-hour. Weekly levels also work on 4-hour and daily charts. On a daily chart, the previous-day levels are simply the prior bar and are not shown.
🛠️ SETTINGS
📐 Levels — previous day high/low, previous week high/low, ADR length, ADR projection lines
🎯 Hold / Break Grading — ATR length, hold distance (× ATR), break distance (× ATR), max bars to resolve, minimum tests to show rates
🎨 Visuals — individual colors for each level and ADR, daily/weekly/ADR line thickness, right-edge price tags, test labels
🖥️ Dashboard — show/hide, position
🔔 Alerts — price reached PDH, PDL, PWH or PWL; ADR fully used
📝 NOTES
Because levels are built from the chart's own bars, extended-hours settings change them: with extended hours on, the previous day high/low includes pre- and post-market. All rates are specific to this chart, timeframe and settings, and do not transfer to other instruments or configurations.
⚠️ DISCLAIMER
This is an analytical and visualization tool. It does not generate trade signals and does not constitute financial advice. Historical statistics do not guarantee future performance.
This indicator draws the previous day's high and low, the previous week's high and low, and the Average Daily Range (ADR), and measures how often each level held or broke when price first tested it on the current chart, shown as percentages with the sample size next to them.
✨ WHY THIS MATTERS
Previous day and week highs and lows are among the most watched levels in intraday trading. Some traders fade them, others trade the break. Which approach fits depends on the instrument: some markets reject these levels far more often than they break them, others run straight through. This script keeps a scoreboard per level, so you can see how they have actually behaved on your chart.
⚙️ HOW IT WORKS
📐 The levels — PDH, PDL, PWH and PWL are built from the chart's own bars, so they follow the same session the chart shows. Each level is drawn as a clean step that moves at the start of each new day or week.
📏 ADR — the average range of the last N completed days. The dashboard shows how much of that range today has already used, and optional projection lines show where today's high or low would be if today ends up an average-range day.
🎯 First-test grading — only the first test of each level per period counts. From the bar after the test, it is graded against the level and ATR frozen at that moment:
• Held — price moves a set ATR distance back away from the level
• Broke — a bar closes a set ATR distance beyond the level
• Undecided — neither happens within the resolve window
If hold and break happen on the same bar, it counts as broken. If a period opens beyond a level (a gap), that level is skipped for the period, since it was never tested from the inside.
🔒 Non-repainting — levels come from completed days and weeks, and tests are registered and graded on confirmed bars only. The ADR value uses completed days only.
🖥️ Dashboard — price, tests, held % and broke % for each level, plus ADR and how much of it today has used.
🧭 HOW TO USE
1️⃣ Read held and broke together. They add up to 100% minus the undecided tests. A level with high held and low broke has tended to reject on this chart; the reverse means it has tended to run.
2️⃣ Compare daily vs weekly. Weekly levels are tested less often, but many instruments respect them more strongly.
3️⃣ Use ADR for context on extension. A test of PDH when today has already used 100% of its ADR is a different situation from the same test at 40%.
4️⃣ Tune the hold and break distances to your style. A tighter break threshold counts more tests as breaks; a larger hold distance asks more of a rejection.
5️⃣ Use it as context, not a trigger. The rates describe how these levels have behaved on this chart. They do not predict the next test.
⏱️ WHICH TIMEFRAMES WORK BEST
Daily levels need an intraday chart, 5-minute through 1-hour. Weekly levels also work on 4-hour and daily charts. On a daily chart, the previous-day levels are simply the prior bar and are not shown.
🛠️ SETTINGS
📐 Levels — previous day high/low, previous week high/low, ADR length, ADR projection lines
🎯 Hold / Break Grading — ATR length, hold distance (× ATR), break distance (× ATR), max bars to resolve, minimum tests to show rates
🎨 Visuals — individual colors for each level and ADR, daily/weekly/ADR line thickness, right-edge price tags, test labels
🖥️ Dashboard — show/hide, position
🔔 Alerts — price reached PDH, PDL, PWH or PWL; ADR fully used
📝 NOTES
Because levels are built from the chart's own bars, extended-hours settings change them: with extended hours on, the previous day high/low includes pre- and post-market. All rates are specific to this chart, timeframe and settings, and do not transfer to other instruments or configurations.
⚠️ DISCLAIMER
This is an analytical and visualization tool. It does not generate trade signals and does not constitute financial advice. Historical statistics do not guarantee future performance.
Connect the dots to elevate your trading.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
Connect the dots to elevate your trading.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.