_CM_High_Low_Open_Close_Weekly-Intraday

The _CM_High_Low_Open_Close_Weekly-Intraday indicator provides a comprehensive visualization of historical and current price levels by plotting the Open, High, Low, and Close (OHLC) values across multiple timeframes directly on the chart. This tool is designed to help intraday and swing traders identify key support, resistance, and institutional reference points from weekly, daily, 4-hour, 2-hour, and 1-hour intervals.

Usage

The Usage section describes how the script can be used, examples should be provided in this section. This tool is primarily used for identifying horizontal levels of interest that often act as pivot points or breakout zones. For example, a trader might look for price reactions near the Previous Day High (PDH) or Previous Day Low (PDL) to determine market sentiment.

The indicator allows for the simultaneous display of current and previous session data. Intraday traders can use the 1-hour or 4-hour OHLC levels to spot short-term trends, while longer-term traders may focus on the weekly levels to establish a broader market bias. The visual distinction between styles (circles for current sessions and crosses for previous sessions) helps differentiate between active and historical price boundaries.

Details

The script utilizes the request.security function to fetch price data from various timeframes regardless of the chart's current resolution. This ensures that even on a 1-minute chart, the weekly or 4-hour levels remain accurate and visible.

Key technical components include:

• Multi-Timeframe Analysis: It fetches Weekly ('W'), Daily ('D'), 4-Hour ('240'), 2-Hour ('120'), and 1-Hour ('60') data.
• Visual Logic: Current session levels are plotted as circles with a thicker line weight to emphasize ongoing price discovery, while previous session levels use cross markers to denote fixed historical reference points.
• Alert Integration: The script includes built-in alert conditions for price crossovers and crossunders of Daily and Weekly highs and lows, facilitating automated monitoring of key breakouts.

Settings

• Show This Weeks OHLC?: Toggles the visibility of the current week's Open, High, Low, and Close levels.
• Show Previous Weeks OHLC?: Toggles the visibility of the prior week's OHLC levels.
• Show Todays OHLC?: Displays the OHLC levels for the current daily session.
• Show Yesterdays OHLC?: Displays the OHLC levels for the previous daily session.
• Show 4-Hour OHLC?: Enables the display of the current 4-hour candle boundaries.
• Show Previous 4-hour OHLC?: Enables the display of the previous 4-hour candle boundaries.
• Show 2-Hour OHLC?: Toggles levels for the current 2-hour timeframe.
• Show Previous 2-hour OHLC?: Toggles levels for the previous 2-hour timeframe.
• Show 1-Hour OHLC?: Toggles levels for the current 1-hour timeframe.
• Show Previous 1-hour OHLC?: Toggles levels for the previous 1-hour timeframe.

FAQ

How do I interpret the different markers on the chart? Levels for current sessions are displayed as circles, while levels for previous sessions are displayed as crosses to help you distinguish between active and historical price data.

Can I set alerts for specific price levels? Yes, the script is optimized for alerts and will trigger notifications when the price crosses the high or low of the current daily or weekly sessions, provided those levels are enabled in the settings.

How can I access the _CM_High_Low_Open_Close_Weekly-Intraday indicator? You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.