Last Two Highest High and Lowest Low Lines – Yearly Quarterly, Monthly, Weekly, Daily, 4 Hour and 1 Hour

v10.3
Last Two Highest High and Lowest Low Lines – Yearly Quarterly, Monthly, Weekly, Daily, 4 H ...

At the start of a new period this indicator draws lines connecting the previous two periods highest highs and previous two lowest lows. It then projects these lines forward throughout the latest period.

It can find the last two yearly, quarterly, monthly, weekly, daily, 4 hourly and 1 hourly highest highs and lowest lows and draw lines connecting them and projected forward until the start of a new year, quarter, month, week, day, 4 hour period, 1 hour period when new lines are drawn.

You can turn on or off the lines connecting the highs and lows and also turn off the projected lines using the settings ‘Lines’ and ProjectedLines’.

The indicator can be used on any time frame chart but if there is not enough data to provide two HH or two LL then it won’t draw any lines for that time period. You can only draw slower time frame lines on a faster time frame chart so for example you obviously cannot draw H1 lines a daily chart

For daily calculations Sunday candles are included in Fridays data so the projected lines on a Monday are from the Thursday daily HH and daily LL and the daily HH and daily LL of Friday and Sunday combined. Weeks start at the open of the Sunday candle.

Each line is labelled at its end. If projected lines are shown then the label is at the end of the projected line if not then it is at the end of the line connecting HH’s and LL’s. Because it is not possible to draw something and then delete it there are no labels on the last  projected lines shown on the chart. To overcome this issue you can add my other ‘Last Two Highest High and Lowest Low as Horizontal Lines – Yearly Quarterly, Monthly, Weekly, Daily, 4 Hour and 1 Hour’ indicator to your price chart and turn off the values and lines in that indicator. This will give you up to date labels.

The projected lines can go a little wobbly on very fast time frames which I assume is due to missing candles messing up the barindex value used in the projection calculations.

Apply only to the price chart

The lines can be used as support and resistance or for breakout trading – however you wish.

It will be slow to draw if you want every line drawn on a lot of historical bars.

I suggest downloading and importing the indicator to get full functionality.

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Risk disclosure:

No information on this site is investment advice or a solicitation to buy or sell any financial instrument. Past performance is not indicative of future results. Trading may expose you to risk of loss greater than your deposits and is only suitable for experienced investors who have sufficient financial means to bear such risk.

ProRealTime ITF files and other attachments : How to import ITF files into ProRealTime platform?

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  1. Vonasi • 04/11/2019 #

    There has been a minor bug fix as lines were drawn incorrectly if both HH or both LL values were identical. The code and ITF file in this library post have been updated. Anyone who has already downloaded or copied the code should now download v1.1 or copy the amended code found here.

  2. Vinks_o_7 • 04/11/2019 #

    Thanks !

  3. dario ti • 04/11/2019 #

    Thank you!

  4. Razz • 04/11/2019 #

    Hello Vonasi super indicator! is it possible to extend the indicator by the time scales M10 and M5?
    Thank you

  5. Razz • 04/11/2019 #

    Hello Vonasi
    I found out myself how I can change it.
    Thanks again for the indicator

  6. Pottar24 • 80 days ago #

    HI Razz can you tell how you managed to do it ?

  7. Pottar24 • 80 days ago #

    VONAZI super indicator thank you. Can you provide me a code that gives me the two latest max e min without any drawn lines? Thank you very much

    • tobytarczy • 5 days ago #

      hi,

      Is there a simple way to draw downwards and upwards trend lines on a specific timeframe. For example on a monthly chart the downward trend line would take the barindex with the high point and then look for the next barindex with the second highest point, and same for the third point. Included would be a parameter for the period as well. Now that i have played a bit with some coding I can’t see that this is too hard.

      I have an image I can share, however not sure how to do it from here.

      thanks in advance
      Toby

  8. Vonasi • 5 days ago #

    Images are not possible in library posts. It is best to start a topic in the forums.

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