Intraday Range Highs and Lows for Breakout and Pullback Setups

Summary

This indicator marks the high and low reached during two user-selected intraday time intervals. It takes start and end times for each interval, finds the extremes within both, and draws them as horizontal levels. The example settings use two windows during the trading day, while other inputs control how many days are calculated and the horizontal shift of the displayed indicator.

The resulting levels can support testing breakout tactics, which look for price to move beyond a range, or pullback tactics that trade a return toward or away from those levels. The document explains the indicator’s construction and intended use, but supplies no trading rules, market examples, backtest results, or evidence of profitability. Results depend on the chosen intervals and instrument, and the text does not specify a time zone or how to handle missing bars. It is therefore a level-drawing tool for analysis rather than a complete trading strategy.

Key ideas

• The indicator calculates highs and lows for two configurable intraday time windows.
• It displays each interval’s extremes as horizontal price levels.
• The plotted levels can be used to test breakout or pullback tactics.
• Inputs control interval times, calculation history, and horizontal display shift.
• The document provides no performance evidence or guidance on choosing intervals.

Tags

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