Timeframe Levels for Price Action

📖 Introduction
Timeframe Levels Indicator is a powerful tool for identifying key support and resistance zones based on historical price action. By plotting weekly, daily, and 4-hour closing levels, this indicator helps traders understand where price is likely to:
✅ Range & Consolidate – Identify congestion zones where price action stalls.
✅ Break & Expand – Spot areas where price can rapidly move to the next level.
✅ Form MMXM Structures – Find market maker expansion and distribution levels.

These levels are critical for traders looking to anticipate price action, identify high-probability trade setups, and manage risk effectively.

The indicator dynamically plots historical close price levels across three key timeframes:
✅ Weekly Close Levels – Identify key levels based on weekly closes.
✅ Daily Close Levels – Spot daily open/close levels for refined entries.
✅ 4-Hour Close Levels – Track intra-day significant price points.

⚙️ How It Works
This indicator retrieves and displays the past 10 close levels for each selected timeframe using request.security().
🔹 Lines are customizable – Adjust the number of lines per timeframe (0-10).
🔹 Dynamic styling – Choose colors and line styles (solid, dashed, or dotted).
🔹 Extend historical levels – Lines extend across the chart for easy visualization.

🎨 Customization Options
🔧 Timeframe Selection: Choose how many weekly, daily, and 4-hour levels to display.
🎨 Color Settings: Customize the colors for each timeframe.
📏 Line Styles: Select between solid, dashed, or dotted lines for better visibility.

📊 Why Use This Indicator?
✅ Identify Key Support & Resistance Zones – Track where price has historically reacted.
✅ Adapt to Any Trading Style – Works for scalping, swing trading, and long-term investing.
✅ Enhance Multi-Timeframe Analysis – Quickly compare price action across different timeframes.

📊 How This Helps You Trade
✔ Pinpoint Key Trading Levels – Use past close levels to identify major market turning points.
✔ Confirm Ranges & Expansions – Understand whether price is likely to consolidate or break into a new trend by evaluating the next level above or below.
✔ Optimize Entries & Exits – Avoid getting trapped in congestion zones and capitalize on breakout opportunities. The more overlapping lines, the more congestion.
✔ Backtest Historical Reactions – See how price has responded to these levels in the past to refine your strategy. As price breaks out, any daily or 4 hour level will slow down the continued momentum.

🛠 How to Use
1️⃣ Add the indicator to your TradingView chart.
2️⃣ Adjust the number of levels per timeframe (Weekly, Daily, 4-Hour).
3️⃣ Customize the line colors and styles to match your chart preferences.
4️⃣ Observe how price reacts to historical levels and plan your trades accordingly.

📜 Code Highlights: What Makes This Indicator Powerful?
This Multi-Timeframe Open/Close Levels Indicator is built with dynamic customization, efficiency, and structured market insights in mind. Here are some key highlights of the code:

The script fetches historical closing prices from three critical timeframes:
✅ Weekly Close Levels (W) – Major swing levels for long-term positioning.
✅ Daily Close Levels (D) – Useful for intraday and swing trading.
✅ 4-Hour Close Levels (240) – Ideal for short-term traders and scalpers.

Each timeframe’s close levels act as dynamic support and resistance zones, helping traders spot key areas for price reactions and liquidity grabs.

The indicator retrieves and stores up to 10 past close levels using request.security(), making it easy to track key price points without lagging the chart.

✅ Uses bar_index to extend levels both left and right.
✅ Ensures proper deletion and redrawing of lines to prevent clutter.
✅ Automatically updates levels as new bars print.

Instead of storing all lines at once, the script:
⚡ Deletes old lines before redrawing new ones.
⚡ Uses var line to ensure memory efficiency.
⚡ Prevents exceeding TradingView's 10,000-cell limit by limiting the number of stored lines.

This results in a smooth, non-laggy experience even with multiple timeframes displayed.

The levels plotted by this indicator help traders:
📊 Identify consolidation zones where price might range.
🚀 Spot breakout areas where price expands to the next key level.
📉 Recognize market maker structures (MMXM) to predict liquidity grabs.

These insights give traders a strategic edge in planning their entries, exits, and trade management.

Final Thoughts
This indicator is a powerful tool for traders looking to integrate historical price levels into their strategy.

Whether you’re a scalper, a day trader, or a swing trader, this indicator provides valuable insights into where price is likely to range, reverse, or break out.

Don’t trade blind—trade with structure. Use this tool to refine your entries, exits, and risk management, and start making more confident trading decisions today!

📌 Interested in accessing this indicator? 📩 Contact me for details!