Previous 4-Hour and Previous Hourly High/Low

٤ نوفمبر

Description:

This script is designed to help traders identify recent support and resistance levels by displaying the Previous 4-Hour and Previous Hourly High/Low prices on the chart. By tracking the highs and lows of both the last completed 4-hour and hourly candles, this indicator provides a clear view of price action on short-term timeframes, useful for intraday analysis.

Functionality:

Previous 4-Hour High and Low: The script captures the highest and lowest prices of the last fully closed 4-hour candle, updating these levels at the beginning of each new 4-hour period.
Previous Hourly High and Low: Similarly, it records the high and low of the most recent completed hourly candle, refreshing at the start of each hour.
How to Use: With these levels displayed, traders can quickly spot areas of potential support and resistance, making this tool valuable for gauging short-term price action trends. The indicator is especially useful for those trading within shorter timeframes, such as scalpers or day traders, who benefit from knowing where prices have recently ranged.

The Previous 4-Hour High/Low is marked with Green and Red lines, while the Previous Hourly High/Low uses Blue and Orange lines, making each timeframe’s levels easily distinguishable.

This script offers a simple yet powerful addition to short-term trading setups, giving traders multi-timeframe insights to inform their trading decisions.