Previous Day and Current Day High/Low

21 Nov

Key Features:
Previous Day High and Low Lines:

Displays the high (PDH) and low (PDL) levels of the previous trading day.
Allows customization of line colors, styles (solid, dashed, or dotted), and widths.
Extends these lines by a specified number of candles into the current day for better visualization.
Current Day High and Low Lines:

Displays the high (CDH) and low (CDL) levels during the current day's regular trading hours.
Customizable line attributes, including color, style, width, and extension length.
Customizable Input Options:

User-configurable settings for both the previous and current day high/low lines, grouped under respective sections for clarity.
Regular trading hours can be defined manually (default is 9:30 AM to 4:00 PM).
Ability to toggle the visibility of the lines for both the previous and current days.
Automatic Reset at the Start of a New Day:

Captures the high and low values of the completed day and resets for the new day.
Deletes old lines and labels to ensure clarity and avoid overlap.
Dynamic Updates:

Updates the current day's high and low lines and labels as new data comes in.
Adjusts previous day lines dynamically based on the user-defined number of candles to extend.
Session-Based Filtering:

Ensures the calculations and updates are restricted to the defined regular trading hours.
Code Logic:
Input Groups: The script uses grouped inputs to allow users to configure settings for previous and current day levels separately.
Line and Label Management: It creates and deletes lines and labels dynamically to prevent clutter and keep the chart organized.
Session Check: Uses the session input to determine if a bar falls within regular trading hours.
High/Low Calculation: Tracks the high and low for both the previous and current days during regular trading hours.
New Day Detection: Identifies the start of a new trading day to update previous day values and reset current day variables.
Applications:
Intraday Trading: Helps traders identify critical support and resistance levels from the previous and current days.
Trend Analysis: Provides visual cues for price movement trends across consecutive days.
Custom Visualization: With extensive customization options, traders can adapt the indicator to suit their trading style and chart aesthetics.
This script is highly configurable, making it versatile for a wide range of trading strategies and styles.