HTF Support & Resistance

The HTF Support & Resistance indicator highlights critical price levels across multiple timeframes, helping traders recognize major support and resistance areas from daily to yearly horizons. This tool is designed to provide institutional-grade perspective by mapping out significant market structure levels automatically.

Usage

The indicator can be used by both day traders and long-term investors to identify pivot points and potential reversal zones. By visualizing the open, high, and low of various higher timeframes (HTF), users can gauge market sentiment and identify where liquidity may be resting.

• Intraday Trading: Use daily and previous daily levels to identify immediate support and resistance for scalping or day trades.
• Swing Trading: Utilize weekly and monthly levels to find significant zones where price might consolidate or reverse over several days.
• Trend Analysis: Quarterly and yearly levels assist in identifying long-term structural shifts and major historical price floors or ceilings.

Details

The script utilizes the request.security() function to fetch data from higher timeframes without repainting the historical levels once the period is closed. It calculates the Open, High, and Low for the current and previous periods across five distinct timeframes: Daily, Weekly, Monthly, Quarterly, and Yearly. These levels are then projected onto the current chart with clear labels and customizable visual styles.

Settings

Daily Levels

• Show Daily Levels: Toggles the display of current day's Open, High, and Low.
• Daily Open/High/Low Color & Style: Customizes the visual appearance (color and solid/dashed/dotted lines) for current daily levels.
• Show Previous Days Levels: Toggles the display of the prior day's price points (PDO, PDH, PDL).
• Previous Days Open/High/Low Color & Style: Customizes the visuals for yesterday's levels.

Weekly/Monthly/Quarterly/Yearly Levels

• Show [Timeframe] Levels: Toggles the current period levels for the respective timeframe.
• Show Previous [Timeframe] Levels: Toggles the prior period levels for the respective timeframe.
• Color & Style Inputs: Individual customization options for every specific HTF line to ensure chart clarity.

Misc Options

• Extend Lines: When enabled, extends the support and resistance lines to the right edge of the chart for easier tracking.

FAQ

How do I use HTF Support & Resistance for entries?

Traders often look for price action confirmations (like pin bars or engulfing candles) when price touches a Daily or Weekly level to enter trades in the direction of the higher timeframe trend.

Can I change the colors of the lines?

Yes, every level (Open, High, Low) for every timeframe can be individually customized in the settings menu to match your chart theme.

How do I access HTF Support & Resistance?

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