Marking Previous-Day Trading Ranges with DayBorders

Summary

DayBorders is a chart indicator that marks the boundaries of each calendar day, drawing vertical and horizontal lines to make the previous day's range easier to inspect across multiple instruments. It is intended to support a trading recommendation associated with Larry Williams: consider the prior day's trading range when evaluating trades. The indicator carries the marked boundaries forward as the calendar day changes.

The document explains the indicator's purpose and basic chart behavior but does not specify a complete entry, exit, or risk-management method. It offers no performance data or testing results, and the illustrated use of prior-day ranges should not be taken as evidence that the approach is profitable. The indicator was first implemented in MQL4 and published in 2008; the article itself gives no further details about how the marked range should guide a trading decision.

Key ideas

• The indicator draws chart boundaries for calendar days.
• It carries the previous day's range markings forward as the day changes.
• The markings help traders apply a prior-day range consideration associated with Larry Williams.
• The document describes a charting aid but gives no trading rules or performance evidence.

Tags

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