This indicator automatically draws half price lines based on the logic below.
Today’s half price: Half price between today’s high and low Yesterday’s half price: Half price between yesterday’s high and low
<Reference> Half price as hidden support and resistance
As a characteristic of market, price sometimes tests previous day’s half price first when previous day ends with bullish candle, then tries new high.
Example1: USDJPY Daily chart: New high after testing previous day’s half price
July9 ends with bullish candle. July10 candle tests previous day’s half first, then records new high.
Example2: USDJPY 1H chart: New high after testing today’s half price
Another example is that today’s half is tested by NY session. In this case, Asian & European session is an uptrend. When the NY session starts, it tests the half of Asian & Euro sessions’ gain then records new high.
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