The Important Levels indicator allows you to highlight the most important price levels on a daily, weekly, and monthly basis. This indicator is particularly useful in intraday charts, as it allows the user to always have the highs, lows, opening and closing prices, POCs, value areas, VWAPs, and average values of the periods enabled easily visible on the chart.

Using Settings

Clicking on the indicator's settings icon will open its configuration window, within which you can make several choices regarding the functionality of the indicator itself.

Length Settings

In this section you will be able to set the number of days, weeks, and months that you want to highlight:

• Days: Define how many previous days' levels to display

• Weeks: Define how many previous weeks' levels to display

• Months: Define how many previous months' levels to display

• Skip Last: If enabled, the indicator will not highlight the important values of the current day, week, and month

Plot Settings

Font Size

Allows you to change the text size of the various labels reported by the indicator.

Plot Type

Lets you determine the display type for important levels, being able to choose between:

• Label: Display only text labels for the levels

• Line: Display only horizontal lines for the levels

• Label and Line: Display both text labels and horizontal lines

Text Align

Allows you to determine where to display text on the chart:

• Left: Display labels on the left side of the chart

• Right: Display labels on the right side of the chart

• Current to Right: Display labels from current position to the right

• Current to Last: Display labels from current position to the last visible level

Enabled Daily/Weekly/Monthly Levels

Enables important values that the user is interested in. For each period (Daily, Weekly, Monthly), you can choose to display or hide the following levels:

• Average Value: The average price of the period

• Low: The lowest price during the period

• High: The highest price during the period

• Open: The opening price of the period

• Close: The closing price of the period

• POC (Point of Control): The price level with the highest trading volume

• Value Area: The price range containing a specific percentage of total trading volume

• VWAP: Volume-weighted average price of the period

Color Settings

Lets you change the colors of the various important values displayed. You can customize colors for:

• Low: Color for Lowest price 

• High: Color for Highest price 

• Open: Color for opening price 

• Close: Color for closing price 

• Mid Point: Color for midpoint 

• POC: Color for Point of Control 

• Value Area: Color for Value Area 

• VWAP : Color for VWAP 

Tip: If you want to differentiate colors between daily, weekly, and monthly important values, you can insert multiple Important Levels indicators—for example, one with only daily values and one with only weekly values—and differentiate their colors.