Intraday Chart Tools for Session Starts and Price Levels
Summary
This article describes additions to an MQL5/MQL4 symbol-selection utility that help traders inspect intraday charts. It explains filters that hide symbols when the current day's direction differs from the previous day's, and chart overlays for session starts, prior-day highs and lows, round-number prices, and hourly closes. The examples show how daily or intraday price data can be used to create vertical and horizontal chart objects.
The author frames prior-session extremes and round prices as possible support or resistance, and argues that matching consecutive daily directions can help select intraday trades. These are presented as practical heuristics and display features, not as a tested trading system. The claimed tendency for price to respect prior highs and lows is based on the author's experience, with no systematic sample or backtest supplied. The article also notes that some overlays can clutter charts and that session timing depends on the market. Its main contribution is implementation guidance for organizing chart information, rather than evidence that the signals are profitable.
Key ideas
- A daily candle comparison can filter symbols whose current and previous day directions differ.
- A vertical marker can show where the current trading session begins on lower timeframes.
- Prior-day and two-days-prior highs and lows can be drawn as potential support and resistance references.
- Round-number levels and recent hourly closes can be added as chart overlays.
- These features support visual analysis but are not validated as profitable signals.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.