OPEN-SOURCE SCRIPT
Relevant Levels Ritrade
Overview This indicator plots key price levels (Daily, Weekly, Monthly) with a unique "Smart Overlap" system. It is designed to keep charts clean by offsetting lines to the right of the price action and preventing labels from covering each other when price levels are identical.
Key Features
Smart Overlap Prevention: If two levels (e.g., Previous Day High and Weekly High) are at the exact same price, the script automatically shifts the second line to the right so both are visible side-by-side.
Origin Trace Lines: Faint, dotted grey lines connect the floating labels back to the specific candle where that High, Low, or Open actually occurred. This helps visualize exactly when the level was created.
Future Offset: Lines are drawn into the future (offset from the current bar) to avoid cluttering your analysis on current candles.
Exact Timing: The trace lines use precise time coordinates to find the exact swing high/low candle.
Included Levels (Toggleable)
PDH / PDL: Previous Day High & Low
PWH / PWL: Previous Week High & Low
DO / WO / MO: Daily, Weekly, and Monthly Opens
Settings You can customize the line colors, the offset distance (how far right the lines sit), the length of the lines, and the gap between overlapping lines.
Key Features
Smart Overlap Prevention: If two levels (e.g., Previous Day High and Weekly High) are at the exact same price, the script automatically shifts the second line to the right so both are visible side-by-side.
Origin Trace Lines: Faint, dotted grey lines connect the floating labels back to the specific candle where that High, Low, or Open actually occurred. This helps visualize exactly when the level was created.
Future Offset: Lines are drawn into the future (offset from the current bar) to avoid cluttering your analysis on current candles.
Exact Timing: The trace lines use precise time coordinates to find the exact swing high/low candle.
Included Levels (Toggleable)
PDH / PDL: Previous Day High & Low
PWH / PWL: Previous Week High & Low
DO / WO / MO: Daily, Weekly, and Monthly Opens
Settings You can customize the line colors, the offset distance (how far right the lines sit), the length of the lines, and the gap between overlapping lines.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.