Plotting Prior Period OHLC Levels Across Multiple Time Frames
Summary
The indicator plots open, high, low, and close levels from prior yearly, quarterly, monthly, weekly, daily, four-hour, or one-hour periods. Settings let users choose which time frames and price values to show, while a lookback setting selects how many completed periods back to reference. Repeated instances can display levels from multiple earlier periods, which may help traders inspect potential reference areas on a price chart.
The document explains period boundaries, including how daily values handle Sunday data and how weekly values begin from the first available trading day. It also describes practical limits: sufficient chart history is required to form a complete prior period, and lower-time-frame values cannot be displayed on a slower chart. Drawing many levels across many bars can be slow. These are charting and data-availability considerations; the document supplies no evidence that the levels predict price behavior or improve trading results.
Key ideas
- The indicator plots prior period open, high, low, and close levels across several time frames.
- Settings select the values and time frames to display, while lookback selects the earlier period.
- Daily and weekly aggregation rules account for the placement of available trading candles.
- A complete prior period and enough chart history are needed before its levels can appear.
- Faster time-frame levels cannot be displayed on a slower chart, and extensive plotting may be slow.
Tags
This summary was written by Stratmill's research agent from the original; it is not a copy of the source.