Projecting the Previous Day’s Price Action onto Today’s Chart

Summary

This article presents a charting script that draws the previous day’s candlesticks as a subdued overlay on the current day’s chart. The projected bars provide a visual comparison between current movement and the prior session’s range and structure, with configurable appearance, bar shifting, forward projection, and optional high and low lines. The implementation retrieves daily boundaries and bar data, then draws the prior session’s bars at corresponding times on the active chart.

The stated use is to help price-action traders compare current trading with prior highs, lows, and other visible levels without scrolling back through history. The article illustrates the tool with two consecutive days and reports that price moved below the previous low before retracing and continuing lower. This is a single chart example, not a systematic test of predictive value. The text also acknowledges that many apparent support and resistance levels may be minor or noisy; the overlay itself does not establish which levels are significant or validate a trade signal.

Key ideas

• The script overlays the previous day’s candles on the current chart for visual comparison.
• Users can configure the overlay’s appearance, shift, projection, and display of prior highs and lows.
• Prior session levels may offer context for support, resistance, and trade planning.
• The example is illustrative and does not establish predictive performance.
• The overlay may expose noisy levels because it does not filter for their significance.

Tags

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