Intraday Indicator for Rolling Daily Prices and Prior-Day Levels

Summary

This indicator plots daily reference values on an intraday chart: a rolling average of daily closes, the prior day's close and typical price, and the highest and lowest prices across a configurable number of daily bars. The example sets the lookback to 20 days. It recalculates the average and extrema when the prior-day typical price changes, then carries those levels across intraday bars until the next daily update.

The document provides indicator code but no chart examples, performance tests, or trading rules showing how to use the levels. These values may help traders track recent ranges and reference prices, but the text does not establish that they predict price movement or produce an advantage. The calculation also depends on the platform's daily-bar definitions and data, and the lookback setting should be checked for the instrument and intended use.

Key ideas

• The indicator displays daily reference levels on an intraday chart.
• It calculates a rolling average of daily closes over a configurable lookback.
• It also reports the previous day's close, typical price, high, and low.
• The document gives implementation code but no evidence of trading performance.

Tags

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