HTF Candle Highs and Lows with Labels + High Probability Signals

The HTF Candle Highs and Lows with Labels + High Probability Signals indicator provides a comprehensive visualization of key support and resistance levels from Weekly, Daily, and H4 timeframes directly on the lower timeframe charts. It helps traders identify high-probability breakout opportunities by filtering price action with volume and candle momentum during specific trading sessions.

Usage

The indicator is used to identify institutional liquidity levels and potential breakout zones. By tracking the previous candle's High and Low from higher timeframes (HTF), traders can anticipate price reactions at these significant levels.

• Breakout Identification: Bullish signals (upward triangles) appear when price closes above an HTF High with strong volume and momentum. Bearish signals (downward triangles) appear when price closes below an HTF Low under similar conditions.
• Session Filtering: Use the session toggles to ensure signals are only generated during high-liquidity hours such as the New York, London, Tokyo, or Sydney sessions.
• Price Levels: Labels displaying the exact price of the HTF levels are automatically projected to the right of the current bar for easy reference.

Details

The script utilizes request.security with lookahead=barmerge.lookahead_on and a specific index high[1] to fetch the highs and lows of the previous completed candle for each timeframe (Weekly, Daily, H4). This prevents repainting while ensuring levels are available immediately at the start of a new period.

The high-probability signal logic requires three conditions for confirmation:

1. Distance Filter: Price must close beyond the HTF level by at least 0.1%.
2. Momentum Filter: The breakout candle must be directional (Close > Open for bullish, Close < Open for bearish).
3. Volume Filter: The breakout candle's volume must be higher than its 20-period simple moving average (SMA).

Settings

Toggle Inputs

• Show Weekly/Daily/H4 High/Low: Toggles the visibility of lines and labels for each respective higher timeframe.

Session Filter Inputs

• Enable Sydney/Tokyo/London/NY Session: Restricts signal generation to the specific hours defined for these global trading hubs (EST).

Style Inputs

• Line Extension (bars): Sets how many bars into the future the HTF levels and labels are extended.
• Line Width: Controls the thickness of the horizontal level lines.
• Label Size: Adjusts the font size of the price labels (tiny, small, normal, large, huge).

Color Inputs

• High/Low Colors: Independent color selection for Weekly, Daily, and H4 High and Low levels.

FAQ

How do I access HTF Candle Highs and Lows with Labels + High Probability Signals?

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

Why are there no signals showing on my chart?

Ensure that the session filters are enabled for the current time of day and that the timeframe you are tracking is enabled in the settings. Signals also require a volume breakout, so they may not appear in low-volatility environments.

Does this indicator repaint?

No, the script is designed to reference the previous completed candle's High and Low (index [1]) of the higher timeframe, ensuring the levels remain fixed for the duration of the current period.