Calculating Previous-Day High, Low, and Fibonacci Retracement Levels

Summary

The document presents an indicator calculation for the previous session’s high and low and three levels across that range: 38.2%, 50%, and 61.8% retracements. It identifies the endpoints as the previous day’s low and high, calculates the midpoint directly, and computes the other levels as fractional offsets within the range. The returned values are labeled as the previous-day low and high and the three retracement percentages.

This provides a compact way to display prior-day reference prices that traders may use when studying potential support, resistance, or pullback areas. The text does not specify an asset, chart timeframe, entry or exit rule, or method for confirming a level’s significance. It offers no historical test or evidence that price reacts to these levels, so the calculation alone should not be read as a validated trading strategy. Its usefulness also depends on the platform’s session boundaries and prior-day data conventions.

Key ideas

• The calculation uses the previous session’s high and low as its range endpoints.\nIt returns the range midpoint and the 38.2% and 61.8% retracement levels.\nThe outputs provide prior-day price references for chart analysis.\nThe document gives no trading rules or evidence that prices react to the levels.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.