Enhanced 4H Candle Countdown & High/Low Indicator

By profitgang

This Pine Script indicator provides real-time tracking of 4-hour timeframe levels with an integrated countdown timer, designed to help traders monitor key support and resistance zones.
Key Features
📊 Visual Elements

4H High/Low Lines: Clear visualization of previous 4-hour candle high and low levels
Range Fill: Subtle background fill between high and low for better context
Mid-Level Line: Shows the middle point of the 4H range
Position Indicator: Visual cue showing current price position within the range

⏰ Countdown Timer

Real-time countdown to next 4H candle close
Customizable table position (9 different locations)
Adjustable text size (6 size options from Tiny to Huge)
Distance calculations showing percentage distance from key levels

🎯 Signal Generation

Long signals when price crosses above 4H low
Short signals when price crosses below 4H high
RSI confluence filter to reduce false signals
Background highlighting for active signals
TradingView alerts compatible

⚙️ Customization Options

Toggle all features on/off independently
Custom colors for all elements
Table positioning (top/middle/bottom + left/center/right)
Text size selection for optimal readability
Alert notifications for level breaks and updates

How It Works
The indicator fetches the previous 4-hour candle's high and low values and displays them as horizontal lines on your current timeframe chart. It continuously calculates the time remaining until the current 4H candle closes and presents this information in a clean, customizable table.
Use Cases

Swing Trading: Identify key 4H support and resistance levels
Intraday Trading: Monitor when new 4H levels will be established
Risk Management: Calculate distance from key levels for position sizing
Multi-timeframe Analysis: Combine with lower timeframe setups

Educational Purpose
This indicator is designed for educational and analytical purposes to help traders understand price action relative to higher timeframe levels. It provides clear visual feedback about market structure and timing.
Settings Groups

Display Settings: Toggle features, positioning, and sizing
Colors: Customize all visual elements
Signal Settings: Configure alert conditions and confluence filters

Compatibility

Works on all timeframes (recommended for 1m to 1H charts)
Compatible with all instruments
Includes proper alert functionality for automated notifications
Optimized for both light and dark themes


This indicator does not provide financial advice. Always conduct your own research and risk management before making trading decisions.