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.
These fixed lines mark the previous day's and week's highs and lows, all known before the displayed candles begin. They are useful reference prices, but they do not promise support or resistance.
Different D1/W1 boundaries, Sunday candles and broker history corrections can move these levels. Record the feed you used.How traders commonly use Previous Day and Week Levels
Traders study first touch, completed close-through or rejection around levels that were known before the current period began.
Carry the prior completed day and week high, low and close forward as fixed reference prices.
Keep this job separate from entry timing, stop placement and position size.
A useful counterexample
A prior high is not guaranteed resistance, and broker day boundaries or Sunday candles can move the plotted level.
Prior levels for location, session range for timing, ATR for buffers
Each part has a different job. If two tools answer the same question, remove one and compare the result.
Define pre-existing higher-timeframe references.
Shows when and where the current session approaches them.
Normalises distance and breakout buffers.
Follow the same order every time
- Record the broker timezone, weekly boundary and treatment of Sunday candles.
- Plot only levels from the immediately preceding completed period.
- Choose first touch, completed close-through or rejection-back-inside as one rule.
- Measure the approach and invalidation distance in ATR units.
- Keep event days tagged separately and include realistic costs.
The indicator is one part of the method
These strategy pages show the market conditions, entry, stop and exit around the indicator.
Support and resistance rejection
A framework for testing reactions at levels that genuinely predate the trade.
- ENTRY
- Enter at the next H1 open after the first qualifying rejection close back above the prior-day low or below the prior-day high.
- STOP
- Place stop 0.20 × ATR beyond the rejection candle extreme. Risk 0.50% of equity and round down to 0.01 lot.
- EXIT
- Take profit at 2R. Exit after 12 completed H1 bars if neither stop nor target trades.
Weekly swing breakout
Tests slow breakouts above or below pre-existing weekly structure.
- ENTRY
- Enter at Monday 00:00 UTC after the qualifying Friday close, provided the opening gap is no greater than 0.50 × weekly ATR.
- STOP
- Stop 0.25 × weekly ATR beyond the breakout candle's opposite extreme. Risk 0.35% equity and round down to 0.01 lot.
- EXIT
- Exit at the Monday open following the first weekly close through the most recent confirmed opposite-side swing; initial stop remains active.
Daily open pullback
Uses a fixed daily open as context for a directional pullback hypothesis.
- ENTRY
- Enter at next H1 open after a pullback-zone candle closes in the impulse direction beyond the prior H1 high/low.
- STOP
- Stop 0.15 × ATR beyond the pullback extreme. Risk 0.50% equity and round down to 0.01 lot.
- EXIT
- Target the frozen impulse extreme. Close any unresolved trade at 20:00 UTC.
Set up Previous Day and Week Levels on your platform
Match the lesson's period, price input, smoothing and candle timing. Similar names can still produce different values across feeds and platforms.
MT4
Use manuallyThe idea can be marked with ordinary chart or drawing tools, but the work is not automatically maintained for you.
MT5
Use manuallyThe idea can be marked with ordinary chart or drawing tools, but the work is not automatically maintained for you.
TradingView
Use manuallyThe idea can be marked with ordinary chart or drawing tools, but the work is not automatically maintained for you.
“Built in” means the standard platform library contains the underlying indicator. It does not mean its defaults or calculation match every third-party version. Compare the platforms.
Plain-language formula
The same indicator can look slightly different across platforms because the price input, smoothing and rounding may change. Note your settings before comparing two charts.
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.
What to pair it with
Pair it with something that answers a different question, such as volatility or market direction. Try the indicator on its own before adding more tools.
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.
Try this on a chart
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.
Use the version made for your platform
The MT4, MT5 and TradingView files are separate source implementations—not renamed copies. Read the code, compile or add it on the intended platform, and compare its output with the lesson before relying on it in practice.
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