Previous Day High, Low, and Close Indicator

Related: previous day high low indicator - another powerful indicator for MetaTrader 5 traders.

Previous Day High, Low & Close

Concept

Yesterday's high, low, and close prices are crucial reference points for intraday traders. They represent resistance, support, and fair value from the previous trading session, often influencing price action on subsequent days. This indicator extracts these three values from the completed Daily (D1) bar and displays them as horizontal levels on the current trading session. This provides constant visibility of the prior day's price structure without manual calculation or timeframe switching.

Also recommended: Previous Day and Floating Pivot HTF Indicator - similar indicator with strong performance on MetaTrader 5.

The indicator functions on any financial symbol and any intraday timeframe. The levels are derived from Daily (D1) data, irrespective of the chart's current timeframe. An optional setting allows displaying levels for multiple previous days. Each day's High, Low, and Close levels are drawn only for the specific session they were active, which is useful for identifying consistently respected or broken price levels over several days.

Interpretation

PDH (Previous Day High)
- The highest price achieved during the preceding completed trading day. This level frequently acts as intraday resistance or a breakout signal when surpassed.

PDL (Previous Day Low)
- The lowest price achieved during the preceding completed trading day. This level commonly serves as intraday support or a breakdown signal when breached.

PDC (Previous Day Close)
- The closing price of the prior trading day. This is often used as a fair-value pivot. Prices trading above the PDC within a session suggest a bullish sentiment, while prices below indicate a bearish sentiment.

Multi-day Stacking
- When the 'InpDaysToShow' input is set to a value greater than 1, levels from older days are displayed only within their respective active sessions. A suffix, such as '-1' or '-2', is appended to the label (e.g., PDH-1, PDH-2) to clearly distinguish historical levels from current ones and prevent confusion.

Live Refresh
- The indicator automatically updates the levels the moment a new Daily bar opens. This ensures the indicator consistently reflects the most recently completed session without requiring manual removal and reattachment.

External Variables (Inputs)

Input

Default

Purpose

InpDaysToShow

1

Determines the number of previous trading days to display (range: 1-10). Each day's levels are confined to the session they represent.

InpShowHigh

true

Activates or deactivates the display of the Previous Day High line.

InpShowLow

true

Activates or deactivates the display of the Previous Day Low line.

InpShowClose

true

Activates or deactivates the display of the Previous Day Close line.

InpHighColor / InpLowColor / InpCloseColor

Lime / Red / Silver

Allows independent color selection for each of the three levels.

InpLineStyle / InpLineWidth

Dash / 1

Sets the line style and width for all three levels.

InpShowLabels

true

Enables the display of text labels (e.g., 'PDH') at the right edge of each level.

InpShowPriceInLabel

true

Appends the precise price value to each displayed label.

InpLabelFontSize

8

Sets the font size for the level labels.

Recommended Usage

This indicator is versatile and can be used on any symbol and intraday timeframe (commonly M1 to H4). The High, Low, and Close values are consistently sourced from the Daily timeframe, regardless of the chart's period. For symbols that trade 24/7 (such as major FX pairs or cryptocurrencies), the definition of a 'daily' session is determined by your broker's server time for bar opening and closing. It is advisable to verify this against your preferred session boundary (e.g., New York close versus broker midnight) before relying on the exact level.

All graphical objects generated by the indicator are managed under a single internal name prefix. They are completely removed using ObjectsDeleteAll() within the OnDeinit() function when the indicator is detached, ensuring no residual objects remain on the chart.

Figure 1. Previous day's High, Low, and Close plotted as horizontal levels on XAUUSD M15. Rendered according to standard guidelines.

You may also like: plot the previous candlestick oh l c of the selected period - excellent alternative for indicator users on MetaTrader 5.

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#property description "This code is educational. Feel free to use, modify and upgrade as you wish. Visit ROBOTFX.ORG for professional trading tools"
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.......

• This tool is provided for educational and testing purposes only.
• Past performance does not guarantee future results.
• Trading involves substantial risk of loss. Use on a demo account first.
• Results may vary depending on market conditions, broker, and settings.
• We recommend thorough backtesting and forward testing before using with real funds.