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This indicator allows traders to see, during the day, the highest high and the lowest low of a period of their choice. Enter, say, 800 and 1100 to see the highest high and lowest low from the period 8h00 – 11h00 in your chart. These levels are conceptually similar to pivot levels but they are based on time i.e. prices at particular, important points in time are relevant.
This example shows a 10-minute chart. The trader uses the highest high and lowest low from the period 8h00 - 10h00 (purple background). Notice that the 8h00 - 10h00 high line, when crossed later in the day, causes a first price acceleration. Later again, the same level provides support before the market accelerates off the support which held.