This ProBuilder code snippet is designed to identify and display the dates of monthly high and low prices directly on a trading chart. It is particularly useful for traders who want to visually track when the highest and lowest prices occurred within each month.

defparam drawonlastbaronly=true
timeframe(monthly)
if openmonth<>openmonth[1] then
    hh=high
    ll=low
endif
hh=max(hh,high)
ll=min(ll,low)
timeframe(default)
if hh<>hh[1] then
    hhdate=(date/10000)
endif
if ll<>ll[1] then
    lldate=(date/10000)
endif
drawtext("Monthly high date: #hhdate#",0,0)anchor(middle,xshift,yshift)
drawtext("Monthly low date: #lldate#",0,-30)anchor(middle,xshift,yshift)
return hh,ll

Explanation of the Code:

• Defining Parameters: The defparam drawonlastbaronly=true setting ensures that the drawing commands only execute on the last bar of the chart, optimizing performance.
• Setting Timeframe: timeframe(monthly) switches the chart’s analysis to a monthly basis, allowing the script to process data month by month.
• Identifying Monthly Highs and Lows: The script checks if the month has changed (openmonth<>openmonth[1]). If true, it initializes hh (monthly high) and ll (monthly low) with the current bar’s high and low.
• Tracking Maximum and Minimum: Throughout the month, hh and ll are updated to reflect the highest and lowest values using max(hh,high) and min(ll,low).
• Returning to Default Timeframe: timeframe(default) resets the analysis to the chart’s original timeframe.
• Calculating Dates: If a new monthly high or low is detected (hh<>hh[1] or ll<>ll[1]), the date is extracted and simplified by dividing by 10000, effectively stripping time and leaving only the year and month.
• Displaying Dates: drawtext functions are used to place the text showing the high and low dates on the chart. The anchor settings adjust the text’s position to the middle of the chart with specified x and y shifts.

This snippet is a practical tool for visual analysis, helping traders to quickly ascertain significant monthly price points directly on their charts.