This indicator automatically plots the chosen timeframe's high, low, mid point and open. These levels on higher timeframes act as support and resistance levels on lower timeframes, helping find entries, stoploss and profit targets.
Most common timeframes to choose are Daily, 1W, 1M, and 3M. Other timeframes that are good include, 2D, 2W and 2M.
For example, you can see in the snapshot below, we are on the 4hr TF showing those levels from the 2W. This historical 2W zone (open and mid) was (and currently still is) resistance. You can see it also provided a good entry to go short.
This is also useful for intraday scalping. Below, we are on the 15min TF with levels set on the 2D timeframe. You can see how the Open and Mid levels acted as resistance, providing good entries on range trades, with take profit set at the previous 2D low.
There is also a table which tells you all the main TFs high, low, open, and mid levels. They are the most important ones to look out for.
This indicator should not be used in isolation; it is best to pair it up with other TA such as orderblocks, S/D zones, S&R or overlay indicators.
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Updated to V5
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Mega Update
-> Added Monday's range as an option (High|Low|Mid|Open).
-> Added session vertical dividers based on timeframe chosen.
-> Added day of week labels at bottom of chart.
- Time zone can be changed for Monday's range and day of week labels.
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-> Changed Monday's range into a dropdown so all days can be chosen.
Changed the extend last range function so it'll apply to all historical ranges.
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UPDATE ==>>
-> Thank you @kjs1 for your suggestion. I've implemented it so you can turn historical ranges on/off in the menu. -> Optimised and minimised code. -> Fixed bugs that were displaying incorrect prices
Is it possible to add Time zone option for the levels to fit ICT's New York midnight open? It can be very useful. Thanks
SGTGUILD
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GREAT WORK. But please allow us to remove the mid and open point. Way too big and we cant even change if its dotted or not
np207274
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Can you please add two middle point level in multi time frames Middle 1: which is middle point of O & C with Candle with wick levels And Middle 2: which is middle point of the O & C of the Body Candle only. Really appreciated
codywaxler
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is there a way to keep LL levels from popping up. i have to toggle v lines off when LL levels pop up then when they come up again I have to toggle v line on . im only wanting ohlm
codywaxler
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@codywaxler, correction. its just lagging on current time when making new low and not updating in real time
wrightwaytrading447
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Amazing. Thank you very much
gabi27
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Hello, is there any chance to only display high and low of the selected timeframe? I dont really need open and mid point so I wish to hide those lines. Thank you