DM Auto PDH/PDL/PMH/PML

The “DM Auto PDH/PDL/PMH/PML” indicator is a price-level plotting tool designed for intraday traders who want to automatically display key reference levels on their TradingView chart — specifically:

What It Does

It automatically plots and labels:

PDH (Previous Day High) – The highest price of the previous trading day.

PDL (Previous Day Low) – The lowest price of the previous trading day.

PMH (Premarket High) – The highest price during the premarket session (e.g., 4:00–9:30 AM).

PML (Premarket Low) – The lowest price during the premarket session.

These levels are critical for many day traders to identify:

Potential support/resistance zones.

Breakout or reversal areas.

Liquidity zones where price tends to react.

Key Features

Automatic Detection:
The script calculates these levels automatically from live or historical data.

Custom Session Settings:
You can define your premarket hours (default: 04:00–09:30 exchange time).

Visual Customization:

Choose whether to show lines only on the latest bar or across the whole chart.

Choose line colors for PDH, PDL, PMH, and PML.

Optionally display labels (e.g., “PDH”, “PML”) at the right edge of the chart.

No Signals or Strategy Logic:
This version does not buy/sell or alert — it’s purely a visual reference indicator for price levels.

Typical Uses

Day traders and scalpers use this to:

Plan trades around prior-day highs/lows (major intraday levels).

Identify premarket extremes, which often act as first support/resistance after the open.

Combine with other indicators (VWAP, moving averages, volume profiles) for confirmation.

Summary
Level Meaning Common Usage
PDH Previous Day High Resistance / Breakout Target
PDL Previous Day Low Support / Breakdown Target
PMH Premarket High Intraday Resistance Zone
PML Premarket Low Intraday Support Zone