It indicates the previous week high and low. When overlaid on the daily chart, it give buy and sell signals (in the understanding you have made a trade setup). Buy when the price crosses the previous week high, sell when it crosses the previous week low.
Any chance you can add alerts feature? Anytime it crosses previous weeks high or low an alert sent
TaPlot
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thank you for the indicator. Any chance you can update it so we have the option of plotting just the last week instead of all weeks? chart gets cluttered. would be nice if there is a yes/no Option like "Plot Only Previous Week?". if Yes, only show high and low for last week vs all weeks. thank you!
Juros
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@TaPlot, Hi, tnx, Good idea, I will check if I can do that.