OPEN-SOURCE SCRIPT
PDH & PDL
Description (Copy & Paste)
Overview This is a lightweight, optimized indicator that displays the Previous Day High (PDH) and Previous Day Low (PDL) on intraday charts.
These levels are critical reference points for day traders, acting as key liquidity pools where price often reacts. Whether you are trading Mean Reversion (fading the edges) or Momentum (breakouts), knowing exactly where yesterday's auction limits were is essential context.
Key Features
Historical Accuracy: Plots historical levels using step-line style, allowing you to backtest how price reacted to PDH/PDL in the past.
Zero Clutter (V2 Optimization): Unlike standard indicators that spam labels on every bar, this version uses efficient var label logic. It maintains a single label instance that stays pinned to the current price action, keeping your chart clean.
Multi-Timeframe Ready: Fetches Daily data correctly regardless of your intraday timeframe (1m, 5m, 15m, etc.).
Fully Customizable: Toggle history lines or current labels on/off and adjust colors/width to fit your theme.
How to Use
Context: Use these levels to determine market sentiment. Opening above PDH suggests bullish imbalance; opening inside the range suggests balance/chop.
Entry Triggers: Watch for "Rejection" (wicks) or "Acceptance" (strong closes) at these lines.
Breakout: Price closes firmly outside the level with volume.
Reversal: Price sweeps the level and immediately reclaims the range.
Settings
Show Historical Levels: Enable to see the levels for previous days (useful for backtesting).
Show Current Labels: Enable to see the price tags on the hard right edge.
Overview This is a lightweight, optimized indicator that displays the Previous Day High (PDH) and Previous Day Low (PDL) on intraday charts.
These levels are critical reference points for day traders, acting as key liquidity pools where price often reacts. Whether you are trading Mean Reversion (fading the edges) or Momentum (breakouts), knowing exactly where yesterday's auction limits were is essential context.
Key Features
Historical Accuracy: Plots historical levels using step-line style, allowing you to backtest how price reacted to PDH/PDL in the past.
Zero Clutter (V2 Optimization): Unlike standard indicators that spam labels on every bar, this version uses efficient var label logic. It maintains a single label instance that stays pinned to the current price action, keeping your chart clean.
Multi-Timeframe Ready: Fetches Daily data correctly regardless of your intraday timeframe (1m, 5m, 15m, etc.).
Fully Customizable: Toggle history lines or current labels on/off and adjust colors/width to fit your theme.
How to Use
Context: Use these levels to determine market sentiment. Opening above PDH suggests bullish imbalance; opening inside the range suggests balance/chop.
Entry Triggers: Watch for "Rejection" (wicks) or "Acceptance" (strong closes) at these lines.
Breakout: Price closes firmly outside the level with volume.
Reversal: Price sweeps the level and immediately reclaims the range.
Settings
Show Historical Levels: Enable to see the levels for previous days (useful for backtesting).
Show Current Labels: Enable to see the price tags on the hard right edge.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.
Script open-source
Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.
Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.