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The Previous Day High Low indicator automatically marks the High, Low, and Close of each previous trading day directly on the chart. Each day's levels are drawn as clean horizontal lines within their own day range, giving traders an immediate visual reference of where price was capped and supported on prior sessions. Yesterday's lines extend to the right across today's chart as live reference levels.
The concept behind this indicator is one of the most fundamental ideas in professional trading: previous day levels act as natural support and resistance. Market makers, banks, and institutional traders are well aware of where yesterday's high and low sit, and price frequently reacts at these levels. Having them clearly marked removes the need for manual analysis every morning and keeps the chart clean and focused.
The indicator draws up to 50 days of historical levels, each contained within its own day. Yesterday's lines are solid and extend to the right so they remain visible as today's price develops. Older days use a dotted style to distinguish them from the most recent reference levels. An optional alert fires once per day when price touches any of yesterday's key levels.
How to Use
Apply the indicator to any Forex pair on any timeframe. The levels are read directly from the Daily timeframe internally, so they are accurate regardless of the chart timeframe you are viewing. The recommended timeframe is H1 or H4 for the clearest view of how price interacts with the previous day levels.
Reading the lines:
- PDH — Previous Day High: key resistance level, watch for rejections or breakouts
- PDL — Previous Day Low: key support level, watch for bounces or breakdowns
- PDC — Previous Day Close: equilibrium level, often acts as a pivot during early session
- Labels on older days show 2d PDH, 3d PDH etc. to indicate how many days back
Trading ideas:
- Price opening above PDH is a bullish signal — look for long entries on a retest of PDH as support
- Price opening below PDL is a bearish signal — look for short entries on a retest of PDL as resistance
- The PDC level often acts as the first target or barrier during the London open
- A breakout above multiple stacked PDH levels signals strong bullish momentum
Input Parameters
| Parameter | Default | Description |
|---|---|---|
| === DISPLAY === | ||
| DaysBack | 5 | Number of past days to draw levels for (1-50) |
| ShowClose | true | Show the previous day close line (PDC) |
| ShowLabels | true | Show PDH / PDL / PDC labels on each line |
| LineWidth | 1 | Thickness of the lines (1-5) |
| === COLORS === | ||
| High_Color | Red | Color of the previous day high line |
| Low_Color | RoyalBlue | Color of the previous day low line |
| Close_Color | DarkGray | Color of the previous day close line |
| === ALERTS === | ||
| UseAlerts | false | Enable alerts when price touches a previous day level |
| UsePopup | true | Show popup dialog on touch |
| UsePush | false | Send push notification to MetaTrader mobile app on touch |
Important Notes
- Levels are read from the Daily timeframe internally. The chart timeframe does not affect accuracy.
- Yesterday's lines are solid and extend to the right. Older day lines are dotted and contained within their own day for easy visual distinction.
- Touch alerts fire once per level per day within a 0.5 pip tolerance and reset automatically at midnight server time.
- On weekends or days with no trading data, the indicator automatically skips that day and moves to the next valid session.
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