Top-Down Analysis previous day

Top-Down Analysis 2nd Candle with Enhanced Features

This powerful TradingView script is designed for traders looking for a comprehensive and customizable top-down analysis tool. The indicator plots horizontal lines based on significant price levels from multiple timeframes (Daily, 4-Hour, 1-Hour, and Weekly), offering clear reference points for technical analysis. Each timeframe is associated with high and low levels from the previous candle, and these levels are represented with customizable line styles, colors, and widths.

Key Features:

Multi-Timeframe Support: Displays high and low levels from the previous candle for the Daily, 4-Hour, 1-Hour, and Weekly timeframes. Customize which timeframes to show.

Customizable Line Appearance: Choose the line color, style (solid, dotted, dashed), and width for each timeframe. This allows for a personalized chart appearance to suit your trading strategy.

Text Labels: Add custom text labels to each line, and move them dynamically to the right, keeping them visible as the candles progress. The labels can be customized with user-defined text for each timeframe’s high and low levels.

Toggle Line Visibility: Easily control the visibility of the horizontal lines and their labels for each timeframe, allowing you to focus on the levels that matter most.

Price Alerts: Set price alerts when the price crosses any of the plotted levels, including the Daily, 4-Hour, 1-Hour, and Weekly levels. Receive notifications when significant price interactions occur.

User Control: With inputs for changing timeframes, colors, labels, and more, this indicator is fully customizable to fit your trading style.

This indicator is ideal for day traders, swing traders, and anyone utilizing multi-timeframe analysis for more informed decision-making.