Dynamic Key Levels Indicator (PDH/PDL & PWH/PWL)

10 jam lalu

Summary:

This indicator is designed to provide a precise and dynamic visualization of the most important price levels from the prior session: the Previous Day's High (PDH), Previous Day's Low (PDL), Previous Week's High (PWH), and Previous Week's Low (PWL). These levels are crucial as they often act as liquidity magnets, key support, or resistance.

Key Features:

- Exact Level Origin: Unlike traditional indicators that draw lines from the start of the session, this script identifies the exact candle where the high or low occurred and begins the line at that precise moment, anchoring the level to its true point of origin.

- Dynamic Lines with "Memory": The lines are projected forward to the end of the current session. However, if the price crosses a level (e.g., moves above the PDH), the line will be cut short at that crossing point. This serves as an immediate visual confirmation that the level has been "visited" or mitigated.

- Clean & Intelligent Labels: The text labels (PDH, PDL, etc.) are dynamically positioned to the right of their corresponding line's endpoint, ensuring the chart remains clean and readable at all times, regardless of whether the line is fully extended or has been cut.

Trading Application:

These levels are fundamental for:

• Identifying areas of probable support and resistance.
  
• Establishing price targets (liquidity magnets).
  
• Validating the market direction for the current session.
  

Important Display Recommendation:

To prevent the chart from "squashing" the price action if a level is far from the current price, it is highly recommended to enable the following setting in your TradingView chart:
Right-click on the price scale -> Settings -> Check the box for "Scale price chart only".

10 jam lalu

Nota Keluaran

Summary:

This indicator is designed to provide a precise and dynamic visualization of the most important price levels from the prior session: the Previous Day's High (PDH), Previous Day's Low (PDL), Previous Week's High (PWH), and Previous Week's Low (PWL). These levels are crucial as they often act as liquidity magnets, key support, or resistance.

Key Features:

Exact Level Origin: Unlike traditional indicators that draw lines from the start of the session, this script identifies the exact candle where the high or low occurred and begins the line at that precise moment, anchoring the level to its true point of origin.

Dynamic Lines with "Memory": The lines are projected forward to the end of the current session. However, if the price crosses a level (e.g., moves above the PDH), the line will be cut short at that crossing point. This serves as an immediate visual confirmation that the level has been "visited" or mitigated.

Clean & Intelligent Labels: The text labels (PDH, PDL, etc.) are dynamically positioned to the right of their corresponding line's endpoint, ensuring the chart remains clean and readable at all times, regardless of whether the line is fully extended or has been cut.

Trading Application:

These levels are fundamental for:

• Identifying areas of probable support and resistance.
  
• Establishing price targets (liquidity magnets).
  
• Validating the market direction for the current session.
  

Important Display Recommendation:

To prevent the chart from "squashing" the price action if a level is far from the current price, it is highly recommended to enable the following setting in your TradingView chart:
Right-click on the price scale -> Settings -> Check the box for "Scale price chart only".

9 jam lalu

Nota Keluaran

Hi everyone,

Excited to release a major update based on great user feedback! This version gives you complete control over the indicator's appearance and permanently solves the label positioning issue.

WHAT'S NEW:

Full Customization via Inputs: You can now customize the indicator's appearance directly from the Settings (⚙️) menu.

Line Settings: Independently change the Color and Width for both Daily (PDH/L) and Weekly (PWH/L) lines.

Label Settings: Change the Text Color and Text Size for all labels.

NEW - Label Horizontal Offset: To give you precise control, a new option called "Label Horizontal Offset" has been added. You can now define exactly how much space (in bars) you want between the end of a line and the start of its text label.

These changes allow you to perfectly match the indicator to your personal chart theme and ensure a clean, readable display at all times.

Thank you for the feedback, and happy trading!