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Previous Days Range (PDR)

What is Previous Days Range?​

The Previous Days Range (PDR) indicator calculates the high, low, and range of price movement over a specified number of previous trading days. It's a useful tool to evaluate historical volatility and spot potential support/resistance levels based on past price action.

💡 PDR is ideal for range-based strategies and breakout detection.

How to Add a PDR Indicator?​

  1. Click on the "+" button in the Indicators section.
  2. Select Previous Days Range.
  3. Choose the data source to calculate PDR.
  4. Enter the number of previous days to consider.
  5. Set the Element Name for this indicator.
  6. Click "Add" to save the indicator.

PDR Settings

Configurable Parameters in PDR​

1. On Data (Source Selection)​

  • This defines the data series used to calculate the range.
  • Typically, Candle data (with OHLC) is selected.
  • You may also choose custom data inputs if available.

2. Previous Days​

  • Sets how many past days the indicator uses to compute the range.
  • Example: If set to 1, it will use the high and low of the previous day.

3. Element Name​

  • Gives the indicator a unique identifier within your strategy.
  • Helps reference the PDR output in other conditions or calculations.
  • Default: _PDR, but you can customize it like _PDR_1D_Candle.

🔁 You can use multiple PDRs with different lookback days (e.g., 1-day, 3-day, 7-day) for deeper analysis.

Use Cases for Previous Days Range​

  • Support and Resistance Zones
    → Price breaking above the previous day’s high may indicate bullish strength.

  • Range Breakout Strategies
    → Enter trades when the current price exits the previous range.

  • Volatility Filters
    → Use the width of the previous day's range to determine market volatility.

  • Dynamic Stop-loss or Targets
    → Set stop-loss or take-profit levels based on the previous day's range.

Example Strategy Usage​

  • Entry Signal:
    → Buy when price closes above the previous day’s high.

  • Filter Signal:
    → Trade only if Previous Range > X% of current price to avoid low-volatility days.

Next Steps​

✅ Add PDR to your strategy
✅ Tune the Previous Days value based on your time frame
✅ Combine with breakout or mean-reversion conditions