Daily High Low MTF

Category: market_structure

An MTF indicator that projects the High and Low levels of a higher timeframe (usually Daily) onto the current chart, with options to calculate based on candle bodies or absolute highs/lows.

Formula

HighBuffer = \begin{cases} High_{HTF} & \text{if DHL\_LOWHIGH} \\ \max(Close_{LTF} \dots) & \text{if DHL\_CLOSECLOSE} \\ \max(Open_{LTF}, Close_{LTF} \dots) & \text{if DHL\_OPENCLOSE} \end{cases} \\ LowBuffer = \begin{cases} Low_{HTF} & \text{if DHL\_LOWHIGH} \\ \min(Close_{LTF} \dots) & \text{if DHL\_CLOSECLOSE} \\ \min(Open_{LTF}, Close_{LTF} \dots) & \text{if DHL\_OPENCLOSE} \end{cases}

Inputs

• TimeFrame (default: PERIOD_D1)
• Previous (default: true)
• Price (default: DHL_LOWHIGH)

See signal primitives and every published strategy that uses Daily High Low MTF on WOBR StrategyVerse.