Previous Period Levels - X Alerts

The Previous Period Levels - X Alerts indicator is a comprehensive tool designed to plot the Open, High, Low, and Close (OHLC) values of previous higher time-frames directly onto the current chart. It provides traders with clear, customizable horizontal levels that act as significant reference points for price action, supported by an adjustable SMA-based alert system to filter out market noise.

Usage

The script is primarily used to identify key historical levels that often act as support or resistance. By default, it displays the previous month's OHLC, but this can be adjusted to various intervals.

• Higher Time-Frame Analysis: Traders can use the 6H, 12H, 1D, 1W, or even 1Y levels to provide context to lower time-frame price movements.
• Support & Resistance: Use the High and Low levels from previous periods to identify potential breakout or reversal zones.
• Alert Filtering: The "Alerts » SMA Visibility" setting allows you to smooth price data using an SMA. Alerts are triggered based on this smoothed value rather than raw price, which helps in avoiding "false positive" signals during high volatility.
• Visual Customization: Every level (Open, High, Low, Close) can be toggled on or off, and their line styles (Solid, Dotted, Dashed), widths, and colors can be adjusted to fit any chart theme.

Details

The indicator utilizes line.new and label.new for dynamic rendering of levels. Unlike standard MTF indicators, this script includes unique resolutions such as 6-hour, 12-hour, 5-day, and multi-month periods.

A "Previous Extension" feature is included, which allows the lines to extend into the prior period's space at a different opacity or style, providing a visual trail of how levels have shifted over time. The label system is highly modular, allowing users to choose exactly how much information (period names, shorthand codes, or price values) is displayed on the chart.

Settings

General Settings

• Reference Resolution: Sets the time-frame for the OHLC levels (e.g., 1 Hour to 1 Year).
• SMA Visibility and Settings: Toggles the tracker line and sets the source/length for the alert-triggering SMA.

Line Settings (Open, High, Low, Close)

• Showing: Toggles the visibility of the specific level.
• Line Style/Width/Color: Customizes the active period's line appearance.
• Show previous extension: Toggles the display of the level from the period immediately preceding the current reference.

Label Settings

• Header/Price Label Format: Configures the text content and style of the labels (e.g., "1M Close" vs "Price • 1.2345").
• Price Label Accuracy: Determines the decimal precision for displayed prices.
• Labels Line Offset: Adjusts the vertical positioning of labels relative to the line.

FAQ

How do I use this for intraday trading?

You can set the Reference Resolution to "1 Day" or "4 Hour" to see previous session levels while trading on 1-minute or 5-minute charts.

What is the purpose of the SMA in the alert settings?

The SMA acts as a filter. Instead of alerting the moment a single wick touches a level, the alert triggers when the moving average crosses it, ensuring a more sustained move.

How can I access Previous Period Levels - X Alerts?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.