% Levels from previous Daily Close

% Levels from Previous Close

This indicator plots up to three customizable percentage bands above and below the previous day's close, providing a clear visual reference for intraday price action relative to yesterday’s session.

Concept
Inspired by volatility studies (such as the SqueezeMetrics research showing that most SPX sessions close within ±1%), this tool helps traders visualize statistically relevant daily ranges.
The levels remain fixed for the entire day — they only update once a new daily session begins — allowing for consistent reference points throughout intraday trading.

Features

Up to three percentage levels (configurable in settings)
Static daily bands anchored to the previous close
Optional shaded zones between upper and lower levels
Optional midline showing the exact previous close
Works on any symbol and timeframe

Use cases
Identify high-probability daily range boundaries
Combine with VWAP or volume profile to locate confluence zones
Define structured intraday risk/reward targets
Analyze volatility expansion versus mean reversion

Note
Some CFD symbols may use a different daily session close compared to the underlying cash index.
For best accuracy, use the same session settings as the instrument you trade.