Previous Day Max 15-Mins Move High/Low

How it works

The script analyzes 15-minute candles from the previous trading day to find the largest high-to-low price range. It then draws horizontal lines at the extreme points of this largest price movement, creating visual markers on the chart. These lines represent the most significant price levels from the previous session, effectively mapping out areas of maximum price volatility.

By identifying these key levels, the script provides traders with a quick visual reference for potential support and resistance zones. The lines are static and extend across all time frames, allowing traders to easily spot important price levels regardless of their current chart view or zoom level.

Why it may be useful

Identifying significant price levels from previous trading sessions is crucial for understanding market dynamics and potential future price movements. These levels can reveal areas of high market interest, where substantial price action occurred, and where traders might expect future price interactions or reversals.

By highlighting the largest price range, the script helps traders quickly identify zones of maximum market volatility. These horizontal lines serve as important visual cues for traders, helping them anticipate potential entry and exit points. They provide insights into market sentiment by showing where the most significant price movements occurred, allowing traders to make more informed decisions based on historical price behavior.

When to explore it

This signal is most effective for intraday traders focusing on short-term price movements, particularly those trading on 15-minute or lower time frames. It works best in markets with consistent intraday volatility, such as forex, futures, or actively traded stocks. Traders can use these levels to identify potential support and resistance zones, plan trade entries and exits, and gauge market sentiment.

The script is particularly useful during the early trading hours when market volatility is typically highest. Traders can benefit from this tool when looking to understand the previous day's price dynamics, identify key trading levels, and develop more strategic trading approaches based on historical price ranges.

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