Displaying Weekly and Monthly Price Levels on Trading Charts
Summary
This document describes a chart indicator that displays weekly and monthly price levels. Users can set the calculation lookback in days and customize the color, line width, and line style separately for weekly and monthly levels. A further setting chooses whether the levels appear as trend lines or horizontal lines.
The material explains visualization options rather than a trading strategy or signal rule. It gives no definition of how the levels are calculated beyond the day-count parameter, and provides no examples, performance evidence, or guidance for interpreting or trading around them. As a result, it may help users configure chart references, but it does not establish whether the displayed levels have predictive value.
Key ideas
- The indicator plots weekly and monthly price levels on a chart.
- A day-count input controls the calculation lookback.
- Weekly and monthly lines have separate color, width, and style settings.
- Users can choose trend-line or horizontal-line rendering.
- The document gives no calculation detail or evidence that the levels predict price movements.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.