Key Levels: Daily, Weekly, Monthly [BackQuant]

Key Levels: Daily, Weekly, Monthly [BackQuant]
Map the market’s “memory” in one glance—yesterday’s range, this week’s chosen day high/low, and D/W/M opens—then auto-clean levels once they break.

What it does
This tool plots three families of high-signal reference lines and keeps them tidy as price evolves:

• []Chosen Day High/Low (per week) — Pick a weekday (e.g., Monday). For each past week, the script records that day’s session high and low and projects them forward for a configurable number of bars. These act like “memory levels” that price often revisits.
  []Daily / Weekly / Monthly Opens — Plots the opening price of each new day, week, and month with separate styling. These opens frequently behave like magnets/flip lines intraday and anchors for regime on higher timeframes.
  
• Auto-pruning — When price breaks a stored level, the script can automatically remove it to reduce clutter and refocus you on still-active lines. See: (broken levels removed).
  

Why these levels matter

• []Liquidity pockets — Prior day’s high/low and the daily open concentrate stops and pending orders. Mapping them quickly reveals likely sweep or fade zones. Example: previous day highs + daily open highlighting liquidity: []Context & regime — Monthly opens frame macro bias; trading above a rising cluster of monthly opens vs. below gives a clean top-down read. Example: monthly-only “macro outlook” view:
• Cleaner charts — Auto-remove broken lines so you focus on what still matters right now.
  

What it plots (at a glance)

• []Past Chosen Day High/Low for up to N prior weeks (your choice), extended right.
  []Current Daily Open, Weekly Open, and Monthly Open, each with its own color, label, and forward extension.
  
• Optional short labels (e.g., “Mon High”) or full labels (with week/month info).
  

How breaks are detected & cleaned
You control both the evidence and the timing of a “break”:

• []Break uses — Choose Close (more conservative) or Wick (more sensitive).
  []Inclusive? — If enabled, equality counts (≥ high or ≤ low). If disabled, you need a strict cross.
  []Allow intraday breaks? — If on, a level can break during the tracked day; if off, the script only counts breaks after the session completes.
  []Remove Broken Levels — When a break is confirmed, the line/label is deleted automatically. (See the demo: tradingview.com/x/Qtq1IAu3/)

Quick start

• []Pick a Day of Week to Track (e.g., Monday).
  []Set how many weeks back to show (e.g., 8–10).
  []Choose how far to extend each family (bars to the right for chosen-day H/L and D/W/M opens).
  []Decide if a break uses Close or Wick, and whether equality counts.
  
• Toggle Remove Broken Levels to keep the chart clean automatically.
  

Tips by use-case

• []Intraday bias — Watch the Daily Open as a magnet/flip. If price gaps above and holds, pullbacks to the daily open often decide direction. Pair with last day’s high/low for sweep→reversal or true breakout cues. See: []Weekly structure — Track the week’s chosen day (e.g., Monday) high/low across prior weeks. If price stalls near a cluster of old “Monday Highs,” look for sweep/reject patterns or continuation on reclaim.
  
• Macro regime — Hide daily/weekly lines and keep only Monthly Opens to read bigger cycles at a glance (BTC/crypto especially). Example:

Customization

• []Use wicks or bodies for highs/lows (wicks capture extremes; bodies are stricter).
  []Line style & thickness — solid/dashed/dotted, width 1–5, plus global transparency.
  []Labels — Abbreviated (“Mon High”, “D Open”) or full (month/week/day info).
  []Color scheme — Separate colors for highs, lows, and each of D/W/M opens.
  
• Capacity controls — Set how many daily/weekly/monthly opens and how many weeks of chosen-day H/L to keep visible.
  

What’s under the hood

• []On your selected weekday, the script records that session’s true high and true low (using wicks or body-based extremes—your choice), then projects a horizontal line forward for the next bars.
  []At each new day/week/month, it records the opening price and projects that line forward as well.
  []Each bar, the script checks your “break” rules; once broken, lines/labels are removed if auto-cleaning is on.
  []Everything updates in real time; past levels don’t repaint after the session finishes.
  

Recommended presets

• []Day trading — Weeks back: 6–10; extend D/W opens: 50–100 bars; Break uses: Close; Inclusive: off; Auto-remove: on.
  []Swing — Fewer daily opens, more weekly opens (2–6), and 8–12 weeks of chosen-day H/L.
  
• Macro — Show only Monthly Opens (1–6 months), dashed style, thicker lines for clarity.
  

Reading the examples

• []Broken lines disappear — decluttering in action: []Macro outlook — monthly opens as cycle rails:
• Liquidity map — previous day highs + daily open:

Final note
These are not “signals”—they’re reference points that many participants watch. By standardising how you draw them and automatically clearing the ones that no longer matter, you turn a noisy chart into a focused map: where liquidity likely sits, where price memory lives, and which lines are still in play.