Daily Candles Timeframe BIAS [AlgoRich]

Here’s the same plain-English overview of how the “Daily Candles Timeframe BIAS [AlgoRich]” script works:

Daily Session Markers

Draws a vertical line at the start of each trading day, spanning from the highest high to the lowest low over a configurable look-back.

You can customize its color and choose solid, dashed, or dotted style.

Previous Day’s Key Levels

As each new day begins, the script draws four horizontal lines for yesterday’s Open, Close, High, and Low.

Those lines run from the start of yesterday’s session to the start of today’s.

Color and line style for each level are fully adjustable.

Mini Daily-Candle Boxes (Optional Section)

Separately, it can render “mini candles” for the last 3–4 daily bars to the right of your chart:

A colored box shows the candle body (bullish vs. bearish).

Vertical wicks extend to that day’s high and low.

This gives a quick visual of the shape of recent daily candles, regardless of your current timeframe.

User Controls

Pick colors for every line and box.

Select line styles (“Solid” / “Dashed” / “Dotted”).

Adjust line thickness, box width, and horizontal offset.

The script automatically limits how many lines/boxes stay on-screen (default 3–4) to keep things tidy.

Why it’s useful:
You get permanent daily reference points—even if you’re trading 5-minute or 1-hour charts—so you can always see where yesterday’s open/close/high/low were. The mini-candles show you at a glance whether the last few daily bars were bullish or bearish, helping you gauge the overall daily bias before taking trades on shorter timeframes.