Previous Week High and Low Indicator

Related: Opening Gap Tracker: Daily, Weekend Gaps with Fill Tracking and Alerts - another powerful indicator for MetaTrader 5 traders.

Previous Week High & Low

Also recommended: ATR Monitor — Daily, Weekly, and Monthly Range - similar indicator with strong performance on MetaTrader 5.

The Idea Behind It

The weekly range is a clean higher-timeframe reference point. It filters out daily noise and provides two key numbers: where price was rejected and where it was accepted over the previous full week. Swing and intraday traders use these levels as a map for the upcoming week. They might fade a return to last week's high, watch for a breakout continuation once it's cleared, or use last week's low as a support reference. This indicator reads these values directly from the completed Weekly (W1) bar and draws them as horizontal levels on the current week. This eliminates the need to switch to a weekly chart to find them.

It functions on any symbol and any intraday-to-daily timeframe, as the levels are always derived from W1 data, irrespective of the chart's timeframe. Optionally, multiple previous weeks can be displayed. Each week's High/Low is drawn only across its active week, which is useful for identifying lined-up or repeatedly respected levels across several weeks.

How to Interpret It

PWH (Previous Week High)
- The highest price reached during the prior completed trading week. Often acts as swing resistance or a breakout trigger once cleared.

PWL (Previous Week Low)
- The lowest price reached during the prior completed trading week. Often acts as swing support or a breakdown trigger once broken.

Multi-week Stacking
- When InpWeeksToShow is greater than 1, each older week's level is drawn only across the week it applied to. A "-N" suffix is added to its label (e.g., PWH-1, PWH-2), ensuring historical and current levels never overlap or cause confusion.

Live Refresh
- Levels are automatically rebuilt the moment a new Weekly bar opens. The indicator always reflects the most recently completed week without requiring removal and re-attachment.

External Variables (Inputs)

Input

Default

Purpose

InpWeeksToShow

1

Number of previous trading weeks to display (1-8). Each week's levels are drawn only across the week they applied to.

InpShowHigh

true

Toggles the Previous Week High line on or off.

InpShowLow

true

Toggles the Previous Week Low line on or off.

InpHighColor / InpLowColor

Lime / Red

Independent colors for the two levels.

InpLineStyle / InpLineWidth

Dash / 1

Line style and width applied to both levels.

InpShowLabels

true

Shows a text label (e.g., "PWH") at the right-hand edge of each level.

InpShowPriceInLabel

true

Appends the exact price value to each label.

InpLabelFontSize

8

Font size used for the level labels.

Recommended Use

Works on any symbol and any timeframe up to and including Daily (M1–D1 are typical), as the High/Low values are always sourced from the Weekly timeframe regardless of the chart period. The exact week boundary (which day the weekly bar opens on) is determined by your broker's server. Most servers open weeks on Sunday or Monday. Verify this against your trading week definition before relying on the exact level, especially around holidays with shortened trading weeks.

All chart objects are created under a single internal name prefix and are fully removed via ObjectsDeleteAll() in OnDeinit() when the indicator is detached, ensuring no residual objects are left on the chart.

Fig. 1. Previous week's High and Low plotted as horizontal levels across the current week on EURUSD H1. Rendered in black and white per the Code Base image guidelines (750×500 px). This example is from 2026.

You may also like: Previous Day High, Low, and Close Indicator - excellent alternative for indicator users on MetaTrader 5.

#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version   "1.00"
#property description "This code is educational. Feel free to use, modify and upgrade as you wish. Visit ROBOTFX.ORG for professional trading tools"
#property indicator_chart_window
#property indicator_buffers 0
#property indicator_plots   0
#property strict
input group "=== Data Settings ==="
input int    InpWeeksToShow     = 1;

.......

• 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.