Here’s a custom script a reader commissioned me to build. It displays the previous day’s regular trading hours high/low/close as well as two custom pivots. The script works on both 24H charts as well as Trading Hours only charts. The custom pivots are defined as follows:
1) yesterday’s high + (yesterday’s high-two day’s ago high)
2) yesterday’s low + (yesterday’s low-two day’s ago low)
Previous Day's Regular Hours H/L/C
# PREVDAYHLC
# (c) 2009 http://www.thinkscripter.com
# thinkscripter@gmail.com
# Last Update 08 Mar 2009
input showOnlyToday = YES;
input Market_Open_Time = 0930;
input Market_Close_Time = 1600;
def day = getDay();
def lastDay = getLastDay();
def isToday = if(day == lastDay, 1, 0);
def shouldPlot = if(showOnlyToday and isToday, 1, if(!showOnlyToday, 1, 0));
def pastOpen = if((secondsTillTime(Market_Open_Time) > 0), 0, 1);
def pastClose = if((secondsTillTime(Market_Close_Time) > 0), 0, 1);
def marketOpen = if(pastOpen and !pastClose, 1, 0);
def firstBar = if (day[1] != day, 1, 0);
def closingBell = if secondsTillTime(Market_Close_Time)[1]>0 and
secondsTillTime(Market_Close_Time)<=0 or
(secondsTillTime(Market_Close_Time)[1]<secondsTillTime(Market_Close_Time)
and secondsTillTime(Market_Close_Time)[1]>0) then 1 else 0;
rec regHoursHigh = if(high > regHoursHigh[1] and marketOpen, high,
if(marketOpen and !firstBar, regHoursHigh[1], high));
rec regHoursLow = if(low < regHoursLow[1] and marketOpen, low,
if(marketOpen and regHoursLow[1] > 0 and !firstBar, regHoursLow[1], low));
rec runningClose = compoundValue(1, if closingbell then close[1] else runningClose[1], close);
rec prevClose = compoundValue(1, if closingBell then runningClose else prevClose[1], close);
rec prevHigh = compoundValue(1, if closingBell then regHoursHigh[1] else prevHigh[1], high);
rec prevLow = compoundValue(1, if closingBell then regHourslow[1] else prevlow[1], low);
rec prevHigh2 = compoundValue(1, if closingBell then prevHigh[1] else prevHigh2[1], high);
rec prevLow2 = compoundValue(1, if closingBell then prevLow[1] else prevlow2[1], low);
plot pc = if shouldPlot then prevClose else double.nan;
pc.SetStyle(curve.SHORT_DASH);
pc.setDefaultColor(color.white);
plot pl = if shouldPlot then prevLow else double.nan;
pl.SetDefaultColor(color.dark_red);
plot ph = if shouldPlot then prevHigh else double.nan;
ph.SetDefaultColor(color.dark_green);
plot pl2 = if shouldPlot then pl+(pl-prevLow2) else double.nan;
pl2.SetDefaultColor(color.darK_red);
pl2.SetStyle(curve.LONG_DASH);
plot ph2 =if shouldPlot then ph+(ph-prevHigh2) else double.nan;
ph2.SetStyle(curve.LONG_DASH);
ph2.SetDefaultColor(color.dark_green);
TS, is it possible to use this and then mod the two custom pivots to be the High and Low of Globex after the regular trading session, so it would be max high of the 4:00 pm previous day to 9:30 am current day session, as well as the low of that session?
The high and low of globex, plus yesterday’s High, Low and today’s Open are the key pivots for daytraders such as Linda Raschke.
Please advise and thanks for a great site.
Yes, this could be done with a little work. I will put it on the “To-Do List” which is quite long right now…
Eric
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