Removing Duplicate Open, High, Low, and Midpoint Levels Across Timeframes

Summary

This indicator plots open, high, low, and equilibrium levels for current and previous intervals, spanning timeframes from intraday periods to yearly periods. For each interval it records the opening price, tracks the interval's running extreme for highs and lows, and calculates equilibrium as the midpoint of its evolving range. Settings control which levels appear, their line appearance, and how far they extend.

To suppress repeated prices, the script keeps separate arrays for each level type and checks whether a candidate price has already been added before drawing it. The source shows support for several interval boundaries and prior-period levels, but the excerpt is incomplete, so the full set of interval handling cannot be verified here. This is a charting aid for locating reference prices; it provides no entry rules, trading results, or evidence that these levels predict support, resistance, or future price behavior. Its usefulness depends on the instrument, chart timeframe, and the trader's interpretation of the plotted levels.

Key ideas

• The indicator marks opens, highs, lows, and range midpoints for current and prior intervals.
• It updates interval highs and lows as new bars arrive and derives equilibrium from their midpoint.
• Separate price arrays let it omit levels whose exact prices have already been recorded for that level type.
• The script provides visual reference levels, not a tested trading strategy or evidence of predictive value.

Tags

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