Open High Low Close [UkutaLabs]

█ OVERVIEW

The Open High Low Close indicator is a powerful trading tool which generates resistance and support levels based on the previous day’s Open, High, Low and Close prices. These levels may act as strong levels of support and resistance, granting traders insight into key price levels.

The aim of this script is to simplify the trading experience of users by automatically identifying and displaying price levels that they should be aware of.


█ USAGE

At the beginning of each trading day, the script will automatically identify the previous day’s high, low, open and close prices. After identifying these levels, the script will then display them as a line on the chart.

Each line also has a label at the end indicating which level it represents. These labels can be toggled in the indicator's settings.

These levels are based on relevant price-action information and may serve as potentially powerful Support and Resistance levels that can be included in a variety of trading strategies.


█ SETTINGS

Configuration

• Show Labels: Determines whether or not identification labels are drawn on each line.
• Display Mode: Determines the number of days the script should load.
• OHLC Color: Determines the color of the lines and labels.