Previous Day Week Month Highs & Lows [MHA Finverse]

Previous Day Week Month Highs & Lows is a comprehensive multi-timeframe indicator that automatically plots previous period highs and lows across Daily, Weekly, Monthly, 4-Hour, and 8-Hour timeframes. Perfect for identifying key support and resistance levels that often act as magnets for price action.



How It Works

The indicator retrieves the highest high and lowest low from the previous completed period for each selected timeframe. Lines extend forward into current price action, allowing you to see when price approaches or breaks these critical levels in real-time. The indicator tracks the exact bar where each high and low occurred, ensuring accurate historical placement.

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Key Features

Multi-Timeframe Levels:
• Current Daily, Previous Daily, 4H, 8H, Weekly, and Monthly highs/lows
• Fully customizable colors and line styles (Solid, Dashed, Dotted)
• Adjustable line width and extension length

Visual Enhancements:
• Price labels showing exact level values
• Range position percentage (distance from high/low)
• Optional period boxes highlighting timeframe ranges
• Day and date labels for reference

Trading Tools:
• Breakout markers when price crosses key levels
• Touch count tracking (how many times price tested each level)
• Time at level display (consolidation detection)
• Customizable thresholds for touch and time analysis

Alert System:
• Individual alerts for each timeframe: Daily High/Low Break, 4H High/Low Break, 8H High/Low Break, Weekly High/Low Break, Monthly High/Low Break
• Toggle switches to enable/disable alerts per timeframe
• Clear messages showing which level was broken and at what price

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How to Use

Setup:
1. Enable your preferred timeframes in "Highs & Lows MTF" settings
2. Customize colors and styles to match your chart
3. Turn on visual features like price labels and range percentages
4. Set up alerts by creating specific alert conditions or using toggle switches

Trading Applications:

Breakout Trading: Watch for strong momentum when price breaks above previous highs or below previous lows

Support/Resistance: Use these levels as potential reversal points for entry/exit signals

Range Trading: Trade between previous highs and lows using the range position indicator

Stop Loss Placement: Place stops just beyond previous highs (shorts) or lows (longs)

Multiple Timeframe Confirmation: Combine timeframes for stronger signals (e.g., Daily near Weekly support)

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Best Practices

• Use Weekly/Monthly for swing trading, Daily/4H/8H for day trading
• Combine with volume or momentum indicators for confirmation
• Multiple timeframe levels clustering together create high-probability zones
• The more touches a level has, the more significant it becomes

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Disclaimer

This indicator is a technical analysis tool for identifying price levels based on historical data. It does not guarantee profits or predict future movements. Trading involves substantial risk. Always use proper risk management and never risk more than you can afford to lose.