This indicator displays previous N days/weeks/months’ highs and lows simultaneously. N is user input and users can separately input different N for highs and lows. For instance, if you would like to show past 20days high and 10days low, you specify 20 for high and 10 for low.
Similar to highs and lows of yesterday, last week and last month which I previously developed a indicator for(see the link below), highs and lows of specific terms such as quarters are also respected as supports and resistances. A legendary trader group, Turtles also uses 20days high/low break as one of their strategies.
Alerts can be set with the conditions below.
-Crossing over previous day’s high -Crossing under previous day’s low -Crossing over previous week’s high -Crossing under previous week’s low -Crossing over previous month’s high -Crossing under previous month’s low
Please note that when we say past 2 days in this indicator, past 2days mean yesterday and day before yesterday, so “today” is not included as “today’s” high/low have yet to be fixed.
Related indicator: High/Low Yesterday&Last week&Last month&Last Year By combining with this indicator, you can highlight important support and resistance.
In the previous version, even if the current candle is not yet fixed, previous highs/lows are sometimes calculated using that unfixed candles.
New version resolves this issue. Take a look at the charts below with an example of 6 month high.
Before
When candle "0" is not fixed(we are still in this month), 6month high is calculated using candle 5 to 0.(so it is repainting as long as the high of the month keeps changing)
After
When candle "0" is not fixed(we are still in this month), 6month high is calculated using candle 6 to 1.
why this strategy is not working for heikin ashi candle when i select preferred time, can u make it for work with all candle patterns. Thanks in advance