Key Levels with Alerts

The Key Levels with Alerts indicator identifies and monitors significant daily, weekly, and monthly price levels directly on the chart, providing automated alerts when these critical thresholds are breached.

Usage

The tool is designed to highlight key institutional and retail pivot points. By plotting previous time-period highs and lows, it helps traders identify potential support and resistance zones. Users can utilize these levels to determine entry/exit points or to set stop-loss levels based on market structure.

The indicator visualizes the following levels:

• Previous Day High/Low (PDH/PDL): Displays the peak and trough of the prior trading day.
• Previous Week High/Low (PWH/PWL): Identifies the extremes of the preceding week.
• Previous Month High/Low (PMH/PML): Marks the highest and lowest points of the past month.
• Current High/Low (DH/DL/WH/WL/MH/ML): Tracks levels relative to the current active session periods.

Details

The script uses request.security to fetch high and low data from higher timeframes (Daily, Weekly, Monthly). These levels are rendered as horizontal lines that extend forward from the current candle. The implementation allows for dynamic updates each bar, ensuring that the visual representation remains accurate even as price fluctuates. Alerts are optimized to trigger specifically when price crosses these historical or current session extremes, including the ticker name in the message for multi-asset monitoring.

Settings

Display Settings (Per Level)

Each level (PDH, PDL, PWH, PWL, PMH, PML, etc.) features an identical set of customization options:

• Show Line: Toggles the visibility of the horizontal level line.
• Line Color: Sets the color for the specific level.
• Line Width: Adjusts the thickness of the line (1-5).
• Line Style: Choice between Solid, Dashed, or Dotted lines.
• Show Label: Toggles the text label (e.g., "PDH") at the end of the line.

Alert Settings

• Enable Break Alerts: Individual toggles for each level to enable or disable price-cross notifications.

FAQ

How do I use these levels in my strategy?

Key levels like the PDH and PDL often act as magnets for price or areas of reversal. Traders look for "break and retest" patterns or "fakeouts" around these zones to confirm trend continuation or exhaustion.

Can I change the length of the lines?

The lines are designed to project forward to provide a clear view of upcoming horizontal resistance or support. The style and visibility can be adjusted in the settings to reduce chart clutter.

How can I access Key Levels with Alerts?

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