Previous High/Low MTF — Indicator by Trendoscope

trendanalysis highlowindex highertimeframes highsandlows

Indicator to plot higher time frame previous candle highs and lows.

One of the key factor in understanding the trend is to look at higher time-frames chart.

Parameters are explained below:

resolution : Chose resolution of higher timeframe. If set to same as symbol, it will consider next parameter HTFMultiplier for calculation of higher timeframe
HTFMultiplier : Multiply symbol timeframe to by HTFMultiplier to derive higher time-frame
Offset: Number of higher timeframe candles before to be plotted. 1 means - it will show highs/lows of previous higher timeframe candle.

Release Notes:

Also adding few options to explain how lookahead, gaps and offset on security function affect output. Default settings are set to show the optimal non repaint version.

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Open-source script

In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

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