Previous Day and Week Levels
Plots the high, low and close of the immediately preceding completed broker day and week.
Start with the input, not the story.
Fixed reference prices from the prior D1 and W1 candles rather than a prediction of support, resistance or direction.
Plain-language formula
Platform implementations can differ in price input, smoothing, indexing and rounding. Record the exact settings and provider before comparing results.
Where it may help
Standardising prior-day and prior-week context for breakout, rejection and range-location research.
Where it struggles
Broker feeds with different day or week boundaries, Sunday candles, daylight-saving shifts and instruments with fragmented sessions.
Add a different measurement.
A complementary tool should answer a different question, such as volatility, regime or position risk. Test the base rule before testing the combination.
The shortcut to avoid
Assuming a historical extreme must cause a bounce or placing an order at a line without a tested trigger and invalidation.
A testable next step
Predefine first-touch, close-through and volatility-buffered breakout rules, then compare prior-day and prior-week levels against random or evenly spaced control levels with costs included.
Download the editable research tool
Source code is provided for education and inspection. It does not place trades. Review, compile in MetaEditor and test on a demo account before any other use.
Download .mq5 source ↓Read install notes, permissions and limitations →