đź’Ž GENERAL OVERVIEW Introducing our new Key Levels indicator! This indicator allows you to see the key levels on the current chart such as previous day lows / highs, pre-market data, yesterday's close, today's open, pivot points, and much more! It's highly user-friendly with every line being individually customizable and having a wide range of text options.
Features of the new Key Levels indicator :
Today & Yesterday High, Low, Open & Close
Previous 3-10th Day Highs & Lows
Pre-Market Highs & Lows
Previous Month High & Low
High & Low Pivots
Combination Of Same Levels
Wide Customization Options
đź“Ś HOW DOES IT WORK ? Key levels are important areas in a chart where a significant reaction is expected. In this indicator, you can enable up to the previous 10 days highs and lows, yesterday's close / today's open, and the latest pivot points. Key levels generally act like support & resistance. Here are a few examples :
As shown, key levels play an important role determining the current trend and can be useful in identifying potential levels where the market will reverse or breakout.
2. Pre-Market Data With assets that have pre-market data available, it's crucial to analyze it to have a better understanding of the market in regular trading hours. Our indicator will plot pre-market highs and lows, even if your chart is in the regular trading hours only mode. We believe this will be helpful with your analyzing process.
3. Combination The indicator can dynamically combine same key levels, so you can have a clear look to the chart without lines & text colliding with each other. This would also help you determine stronger key levels as if a key level occured more than a time, it could be a sign that it's a stronger one. An example :
To summarize, using key levels is an essential skill while detecting zones where strong reactions are expected. This indicator provides up to 10 day's high and low levels, and all of them can be individually turned on / off. Traders that believe older key levels can be important and want to look at the whole picture may use this feature. Also for assets that have pre-market data available, the indicator provides pre-market levels as well. Besides all that, High & Low pivots will provide latest key levels so traders can use them in their decisions.
⚙️SETTINGS
1. General Configuration You can enable / disable : 1. Today's High / Low / Open 2. Yesterday's High / Low / Close 3. 3th-10th Day High / Low 4. Pre-Market High / Low 5. Previous Month High / Low
You can also change the colors and switch their line styles between solid, dashed and dotted.
2. High & Low Pivots
Enabled -> Enable / Disable High & Low Pivots
Pivot Range -> The range used in the detection of pivot points. Larger values will result in less pivot points, while smaller values will provide more pivot points. This essentially determines how many bars to the right & left shouldn't exceed the pivot's high or low.
You can also change the text color and text size of the pivots from the settings.
3. Style settings
Text Offset -> How many bars of offset should the texts have to the right. Increase if text collides with bars while Align Labels option is set to "Right".
Extend Lines -> If enabled, lines will be extended infinitely to right & left. If disabled, all lines will be clamped in their timelines.
Show Line Values -> If enabled, line information text will contain their price.
Align Labels -> Right = Align line labels to right. Center = Line labels will always be at the center of the screen.
Release Notes
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Fixed a problem where pre-market data was sometimes calculated wrong on higher timeframes.
Release Notes
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Fixed a bug that caused the pre-market low line not using it's assigned color
A small error in line 215 is preventing the PM Low from using its own colour. What a great indicator!! Thanks.
Lynext
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@marccollins222, Thank you for noticing that! An update will be on it's way to fix it :)
anil2616
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@Lynext, Hello Lynext, My name is Anil and i am a professional trader and financial instructor. Thank you for making this indicator available. I really liked it. I am planning to teach my students on how to trade with this indicator as i am making an educational video course. Do i need to take written permission from you for the use of this indicator or can i use it freely. I will be clearly mentioning your attribution too. Please do let me know.
Lynext
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@anil2616, Hey Anil! Sure, you can freely use the indicator in your course, Just please mention the script's name and the author, which is "fluxchart". Thank you for you nice comment :)
@rauneylg, Add the script to your favorites for easy access!
SenBa009
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Great script, excellent work! Thanks! I sometimes encounter a study error. Does anybody else experience this error?
marccollins222
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I have also discovered a small bug that I have no idea how it happens. Once in a while, the PM Low and PM High appear at the bottom of the chart instead of where they belong. I can't attach a screen shot, so will send via PM, but the PM High appears at $0.00 and the PM Low at -$1.00.
marccollins222
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Thanks for fixing that small bug so quickly! Now, just a suggestion--could there be an option to "extend the lines" only to the right and not in both directions?