1. Overview
Level-II-Level is a professional-grade overlay indicator for the TradingView platform. Its purpose is singular and precise: to display the most structurally significant price levels across five major timeframes — Daily, Weekly, Monthly, Quarterly, and Yearly — with institutional accuracy and zero ambiguity.
For each timeframe, Level-II-Level tracks both the current period (still unfolding) and the previous period (confirmed and closed). It surfaces the Open, High, and Low of each — 30 individual price levels in total, each independently toggleable.
In addition to horizontal levels, Level-II-Level includes a range boxing system that visually frames candle ranges for the 4H, Daily, Weekly, and Monthly periods. An intelligent TimeKeeper feature automatically selects which boxes to show based on your chart’s current timeframe.
A smart label-merging system monitors all active levels and, when two or more fall within a user-defined price proximity threshold, automatically consolidates their labels — giving you immediate visual identification of confluence zones.
1.1 What Level-II-Level Is Not
Level-II-Level is not a signal indicator. It does not generate buy or sell signals. It does not use moving averages, oscillators, or any derived calculation. It displays factual, objective price data from higher timeframes — the same data any trader could pull up manually, now automated and always present.
1.2 Compatibility
- Platform: TradingView (any plan that supports Pine Script indicators)
- Pine Script version: v6
- Overlay: Yes — renders directly on the price chart
- Asset classes: All — Stocks, ETFs, Forex, Crypto, Futures, Indices, Commodities
- Chart types: Standard candlestick, bar chart, and any standard OHLC chart
| ⚠️ Timeframe Note
Level-II-Level uses HTF (Higher Timeframe) data calls. For best results, use it on a chart timeframe LOWER than the levels you want to see. For example, to see Daily levels clearly, use a 1H, 15m, or 5m chart. Using Level-II-Level on a Daily chart to see Daily levels will still work but provides less visual separation between lines. |
2. Installation
2.1 Adding Level-II-Level to Your Chart
Follow these steps to add Level-II-Level to any TradingView chart:
- Open TradingView and navigate to the chart you wish to use.
- Click the Indicators button at the top of the chart (or press the / key).
- In the search box, type “Level-II-Level” and press Enter.
- Locate Level-II-Level in the search results and click it. The indicator will load immediately onto your chart.
- You will see the Level-II-Level settings panel open automatically on first add. Configure as needed (see Section 3).
- Click OK to confirm and begin using the indicator.
2.2 Accessing Settings After Installation
To reopen settings at any time:
- Hover over the Level-II-Level label in the chart’s indicator panel (left side of chart).
- Click the gear icon (⚙) that appears to the right of the label.
- Alternatively, double-click anywhere on the indicator’s drawn elements on the chart.
2.3 Resetting to Defaults
To restore all settings to their factory defaults, open Settings, then click the three-dot menu in the top-right corner of the settings panel and select “Reset settings to default.”
3. Settings Reference
Level-II-Level’s settings are organized into several groups, each accessible via the tabs in the settings panel. Below is a complete reference for every setting.
3.1 Levels Settings
| Setting | Default | Options / Range | Description |
| Display Style | Standard | Standard, Right, Both, Left | Controls how level lines extend on the chart. Standard draws a fixed-length segment. Right extends to the right edge. Both extends in both directions. Left extends to the left edge. |
| Line Style | Solid | Solid, Dashed, Dotted | Visual style of all level lines. |
| Label Position | Middle | Middle, Top | Middle places the label centered on the line segment. Top places the label above the line with no background. |
| Label Offset | 30 | 0 – 450, step 5 | Number of bars to the right of the last bar at which labels are rendered. Increase this to push labels further right on your chart. |
| Level-Merge Threshold % | 0.1 | 0.0 and above, step 0.05 | When two or more active levels are within this percentage of each other in price, their labels are merged into one. Set to 0 to disable merging entirely. |
3.2 Boxing Settings
| Setting | Default | Options / Range | Description |
| 4H Box Color | #ffffff80 | Any color | Border color for 4-Hour range boxes. The default includes 50% transparency (80 in hex alpha). |
| 4H Boxes | Off | On / Off | Manually enables 4H range boxes regardless of chart timeframe. |
| Daily Box Color | #16d3b280 | Any color | Border color for Daily range boxes. |
| Daily Boxes | Off | On / Off | Manually enables Daily range boxes. |
| Weekly Box Color | #bd9e2480 | Any color | Border color for Weekly range boxes. |
| Weekly Boxes | Off | On / Off | Manually enables Weekly range boxes. |
| Monthly Box Color | #e8237080 | Any color | Border color for Monthly range boxes. |
| Monthly Boxes | Off | On / Off | Manually enables Monthly range boxes. |
| Auto-Select Timeframes (TimeKeeper) | On | On / Off | When enabled, Level-II-Level automatically decides which boxes to show based on your current chart timeframe. Overrides individual box toggles for auto-selected timeframes. |
| 💡 TimeKeeper Logic
5m / 15m chart → 4H Boxes + Daily Boxes auto-enabled The manual box toggles (4H Boxes, Daily Boxes, etc.) are ADDITIVE when TimeKeeper is ON — you can force additional boxes on top of what TimeKeeper selects. |
3.3 Per-Timeframe Level Settings
Each of the five timeframes — Daily, Weekly, Monthly, Quarterly, and Yearly — has its own settings group. All groups follow the identical structure described below.
| Setting | Default | Options / Range | Description |
| Color (Current) | Per TF | Any color | Line and label color for all current-period levels of this timeframe. |
| Open (Current) | Off | On / Off | Enables the current period’s Open level. |
| High (Current) | Off | On / Off | Enables the current period’s High level. Updates in real time as price moves. |
| Low (Current) | Off | On / Off | Enables the current period’s Low level. Updates in real time as price moves. |
| Color (Previous) | Per TF | Any color | Line and label color for all previous-period levels of this timeframe. |
| Prev. Open | Off | On / Off | Enables the previous confirmed period’s Open. This level does not change during the current period. |
| Prev. High | Off | On / Off | Enables the previous confirmed period’s High. Static until the next period closes. |
| Prev. Low | Off | On / Off | Enables the previous confirmed period’s Low. Static until the next period closes. |
| 🎨 Default Colors Per Timeframe
Daily: #D0F4DE (light green) |
4. Understanding the Levels
This section explains what each level represents, why it matters, and how traders commonly use it.
4.1 The Open
The Open of any period is where the market decided to begin. It is the first agreed-upon price of the session — the reference from which the entire period’s narrative is measured.
Price trading above the current period’s Open is a bullish condition within that timeframe. Price trading below is bearish. This simple orientation test is one of the fastest ways to frame directional bias across timeframes.
The previous period’s Open often acts as a forgotten support or resistance because it was the starting point of confirmed, completed price action. Revisits to previous opens frequently see strong reactions.
4.2 The High
The High of a period is the maximum price accepted by the market within that period. Exceeding it with conviction signals continuation and breakout. Failing to exceed it on repeated tests signals rejection and distribution.
The current period’s High updates in real time. Watch it as a dynamic resistance level — especially on the first hour of a new day, the early bars of a new week, or the opening days of a new month.
The previous period’s High (PDH, PWH, PMH, PQH, PYH) is one of the most-watched levels in institutional and algorithmic trading. Many strategies are built entirely around whether price can break above and hold the prior period’s High — or whether it fails at that level.
4.3 The Low
The mirror of the High. The current period’s Low is dynamic support — the lowest price the market has accepted so far this period. Breaching it signals selling pressure and potential continuation lower.
The previous period’s Low (PDL, PWL, PML, PQL, PYL) is an equally critical structural level. A break below the previous session’s low, followed by a reclaim, is a classic liquidity sweep pattern. A clean hold above it signals underlying strength.
4.4 Timeframe Hierarchy
Not all levels carry equal weight. Level-II-Level covers five timeframes. Understand their relative importance:
| Timeframe | Level Labels | Typical Use Case |
| Daily | D Open / D High / D Low D Prev. Open / High / Low | Intraday trading, scalping, day trading |
| Weekly | W Open / W High / W Low W Prev. Open / High / Low | Swing trading, multi-day holds |
| Monthly | M Open / M High / M Low M Prev. Open / High / Low | Swing to position trading, macro context |
| Quarterly | Q Open / Q High / Q Low Q Prev. Open / High / Low | Position trading, macro structural levels |
| Yearly | Y Open / Y High / Y Low Y Prev. Open / High / Low | Long-term structure, investment framing |
4.5 Current vs. Previous Levels
Level-II-Level tracks two versions of each period:
| Current Period Levels
These update in real time as the current period’s candle builds. The High and Low expand as price moves. The Open is fixed at the moment the period begins and does not change. Use current levels to understand where price stands within the ongoing context. |
| Previous Period Levels
These are the confirmed, closed values from the period that just ended. They are static — they will not change until the next period closes and becomes the new ‘previous.’ These are the levels most commonly referenced in institutional analysis: PDH, PDL, PWH, PWL, etc. Use previous levels as your primary support/resistance framework. |
5. The Boxing System
Level-II-Level’s boxing system draws border-only rectangles that frame the High-to-Low range of completed and in-progress periods. These boxes give you an immediate visual read on range expansion, contraction, and how the current bar context relates to prior periods.
5.1 How Boxes Are Built
Each box type works identically in structure. Using the Daily box as an example:
- At the start of a new Day, a new box begins from the first bar of that day. Its initial High and Low are the first bar’s High and Low.
- As each new bar forms, the box’s High extends upward if a new daily high is set. The Low extends downward if a new daily low is set.
- When the day closes (a new daily candle begins), the completed day’s box is finalized at its confirmed High and Low, and a new box begins.
- At the last bar of the chart (barstate.islast), the current in-progress box is redrawn to show the live range up to the most recent bar.
| 📌 Box Display Note
Boxes are drawn with a transparent background (no fill) and a colored border only. This keeps the chart readable even with multiple box types enabled simultaneously. Border colors and transparency are fully configurable per box type. |
5.2 TimeKeeper Auto-Selection
The TimeKeeper feature removes the need to manually manage which boxes are visible. It reads your current chart timeframe and enables the most contextually appropriate boxes automatically.
The logic is designed around the principle of “one degree up”: on a 15-minute chart, Daily and 4H boxes provide context. On a 1H chart, Weekly and Daily boxes are most useful. On a 4H chart, Monthly and Weekly structure is what matters.
TimeKeeper is enabled by default. You can disable it at any time and use the individual box toggles to manually control which periods are shown.
5.3 Manual Override
Even with TimeKeeper enabled, you can force additional box types on by turning on their individual toggles. For example, with TimeKeeper on and your chart at the 1H timeframe (which auto-enables Daily and Weekly boxes), you could additionally enable Monthly boxes manually for extra context. The systems are additive.
5.4 Reading the Boxes
Once you understand the box structure, they become immediately useful:
- A narrow box indicates a low-range period — consolidation, indecision, or low volatility.
- A wide box indicates a high-range period — trending, volatile, or news-driven action.
- Price sitting near the top of the current box suggests proximity to period resistance.
- Price sitting near the bottom of the current box suggests proximity to period support.
- A break outside a completed box’s borders is a range breakout — a significant structural move.
- Boxes stacked in alignment across timeframes (a daily box contained within a weekly box, for example) indicate periods of agreement and compression, which often precede expansion.
6. Level Merging & Confluence Detection
One of Level-II-Level’s most powerful features is its automatic confluence detection. When two or more active level labels fall within a configurable price percentage of one another, Level-II-Level automatically merges them into a single label displaying all contributing level names.
6.1 How Merging Works
Every bar, Level-II-Level compares the price of every active label against every other active label. If the absolute price difference between any two labels is less than the configured threshold percentage of the first label’s price, they are merged:
- The second label is deleted.
- Its name is appended to the first label’s text, separated by ” / “.
- The merged label sits at the price of the first (highest-priority) label.
Example: If the Daily Previous High sits at 50,250 and the Weekly Open sits at 50,265, and your threshold is set to 0.1% (which on a 50,000-level asset = 50 points), these two levels are within 15 points of each other — well within the threshold. The label would read:
| Example Merged Label
D Prev. High / W Open This tells you: there is a cluster at ~50,250 where both the confirmed previous daily high AND the current weekly open coincide. This is a high-confluence zone. |
6.2 Setting the Threshold
The Level-Merge Threshold is expressed as a percentage. The default is 0.1%. Here is how to think about setting it:
| Threshold | Suitable For | Effect |
| 0.00% | Disable merging entirely | All labels shown individually regardless of proximity |
| 0.05% | Tight levels, high-precision | Only levels within ~5 pts of 10,000 merge |
| 0.10% (default) | Most instruments, balanced | Good for most stocks, indices, crypto |
| 0.25% | Volatile assets (crypto) | Wider net, more aggressive merging |
| 0.50%+ | Macro-level analysis | Levels far apart will still merge — use with care |
6.3 Merging Priority
Labels are processed in a fixed order: Daily levels first, then Weekly, Monthly, Quarterly, and Yearly. Within each timeframe, the order is Open, High, Low, then the previous period equivalents. This means that when a merge occurs, the surviving label (and its price anchor) will always be from the earlier/lower timeframe in the sequence.
6.4 Practical Interpretation
More contributing names in a merged label = stronger confluence. A label reading “D Prev. High / W High / M Open” represents a zone where three different timeframes all have a significant reference price. These multi-timeframe cluster zones deserve extra attention as support or resistance.
7. Display Modes & Visual Configuration
7.1 Display Style (Line Extension)
The Display Style setting controls how level lines are drawn across the chart:
| Mode | Behavior |
| Standard | Draws a fixed-length line segment from the beginning of the current period to the label offset position. Clean and precise — recommended for most use cases. |
| Right | The line extends infinitely to the right edge of the chart. Useful for seeing levels projected far into the future. |
| Both | The line extends in both directions across the full chart. Best for identifying historical reactions at the same price levels. |
| Left | The line extends to the left edge of the chart only. Useful when you want to see historical price interaction without forward projection. |
7.2 Line Style
Three line styles are available: Solid (default, clearest), Dashed (good for distinguishing previous-period levels), and Dotted (lightest visual weight, good for secondary levels). Consider using Solid for the most important levels and Dashed or Dotted for supporting ones — though all levels share a single style setting currently.
7.3 Label Position
Middle places each label centered horizontally on the line, extending to the right based on the Label Offset setting. The label has a transparent background, so it sits cleanly over the price chart without obscuring candles.
Top places the label above the line with no visible background. This is a lighter option that takes up less visual space but can be harder to read on crowded charts.
7.4 Label Offset
The label offset controls how many bars to the right of the last bar labels are positioned. The default is 30 bars. Increase this value if your labels are overlapping with recent candles, or if you want more space between price action and the label text. Maximum is 450 bars.
7.5 Colors
Each timeframe has independent color controls for its current-period levels and its previous-period levels. The default palette is intentionally distinct:
- Daily: Light green — the most frequently referenced levels, kept immediately visible.
- Weekly: Light blue — the structural weekly context.
- Monthly: Light purple — longer-term macro reference.
- Quarterly: Light pink — institutional quarter framing.
- Yearly: White — the broadest structural anchors.
All colors support full RGBA customization including transparency. Reducing alpha (transparency) on higher timeframe levels can help de-emphasize them visually without disabling them.
8. Recommended Setups & Workflows
The following are proven configuration starting points based on trading style. These are recommendations — adapt them to your own approach.
8.1 Intraday / Day Trader (1m – 15m charts)
Goal: See the daily and weekly context clearly while trading intraday.
- Enable: D High, D Low, D Open, D Prev. High, D Prev. Low
- Enable: W Open, W Prev. High, W Prev. Low
- Leave monthly/quarterly/yearly off to reduce visual noise
- Boxing: TimeKeeper ON (will auto-show 4H and Daily boxes)
- Display Style: Standard
- Merge Threshold: 0.10%
8.2 Swing Trader (1H – 4H charts)
Goal: Frame multi-day to multi-week context.
- Enable: D Prev. High, D Prev. Low (prior session reference)
- Enable: W Open, W High, W Low, W Prev. High, W Prev. Low
- Enable: M Open, M Prev. High, M Prev. Low
- Boxing: TimeKeeper ON (will auto-show Weekly and Monthly boxes)
- Display Style: Right (so levels project forward visibly)
- Merge Threshold: 0.15%
8.3 Position / Macro Trader (Daily – Weekly charts)
Goal: See the full structural landscape across all timeframes.
- Enable all Monthly, Quarterly, and Yearly levels
- Enable W Prev. High, W Prev. Low for weekly context
- Boxing: TimeKeeper ON (monthly boxes visible)
- Display Style: Both (see historical price interaction at levels)
- Merge Threshold: 0.25% or higher
8.4 Confluence Hunter
Goal: Identify the highest-confluence price clusters across all timeframes.
- Enable ALL levels across all timeframes
- Set Merge Threshold to 0.10% – 0.20%
- Use the merged labels as your primary decision zones
- Labels with 3 or more merged names are exceptionally high-confluence
- Boxing: TimeKeeper ON
- Display Style: Standard
9. Frequently Asked Questions
Why are no levels showing on my chart?
All levels are disabled by default. Open the settings panel and enable the specific levels you want to see (e.g., turn on ‘High’ under the Daily section). No levels will draw until at least one is toggled on.
Why does my merged label show the wrong price?
When levels merge, the surviving label anchors to the price of the first label in processing order (Daily Open is processed first, Yearly Low last). The price shown is the exact price of the higher-priority level — not an average. The secondary levels that merged in are at slightly different prices, within your threshold.
The labels are overlapping with my candles. How do I fix it?
Increase the Label Offset setting (default 30). Try 50–80 bars for more separation. Alternatively, change Display Style to ‘Right’ to extend lines rightward and push the label anchor further from the current price.
Do boxes slow down the chart?
Level-II-Level is built with performance in mind. All drawing logic is gated to execute only at the last bar, not on every historical candle. Boxes and levels should have negligible impact on chart performance even with all options enabled.
Why does the first box on the chart look incomplete or wrong?
On the very first bar of a chart’s history, there may not be a completed period transition visible yet. The first box initializes to the first bar’s high and low and builds from there. This only affects the very start of a chart’s history and does not impact live trading use.
Can I use Level-II-Level on a Renko, Heikin Ashi, or Range chart?
Level-II-Level uses standard OHLC data and time-based period detection. It may not behave as expected on non-standard chart types like Renko or Range bars, which do not have fixed time periods. Standard candlestick and bar charts are recommended.
Does Level-II-Level work on Forex markets that trade across midnight?
Yes. Level-II-Level uses TradingView’s native time() function for period detection, which respects the session times configured for each instrument in TradingView. Forex Daily periods align with TradingView’s session definitions for the instrument.
Why are there no signals or alerts?
Level-II-Level is a pure levels indicator. It is intentionally designed to display factual structural data without generating signals or opinions. Adding your own alerts using TradingView’s built-in alert system for price crossings of specific levels is straightforward — right-click any level line on the chart to add a price alert.