PsH / PsL future: the future's previous high and low
PsH future and PsL future stand for previous session high, future and previous session low, future: the highest and lowest price of the main future — for example FDAX or ES — over its whole previous trading session. A futures session is much longer than the stock market's: it includes the night, the pre-market and the after-hours. So these levels often lie further out than the official index's own high and low. Basics draws them on the main future and also on its mini, micro and nano contracts — always the main future's high and low, not the smaller contract's own, which can differ through a spike in the thinner market. So with a small contract you trade the levels of the real future. On CFDs such as US30 or GER40, which follow the index rather than the future, Basics converts them with the current cash-future difference, so the lines land where they belong on the CFD chart. This page explains what the lines show, how the futures session differs from regular trading hours, and how to adjust them.
On this page
Monday 02:15 · futures day startsTuesday 02:15 · new futures day
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- 1Monday 02:15 — FDAX's session starts, and so do the lines. During Xetra hours FDAX makes its low, 25,290 at 10:45, and reaches 25,478 at 14:05.
- 2Monday 21:20 — almost four hours after Xetra closed, FDAX makes the session high: 25,503 — a price it only reached after the stock market had closed.
- 3Tuesday 09:05 — FDAX has broken above it before the open; at the Xetra open it dips back to 25,506, 3 points above the old high, and rises 132 points to 25,638 by 09:15.
- 415:30 — a second test: 25,502, one point below the line, and FDAX climbs 96 points to 25,598 by 15:55. The old high has become support.
Part of Basics
Free TradingView indicator with all session, week and month levels for index, futures and CFD charts.
Install Basics (free) →What a futures session is
The stock market behind an index is open for six and a half (US) or eight and a half (DAX) hours a day. Index futures trade much longer:
| US index futures (NQ, ES, YM, RTY) | 18:00 New York time the evening before until 17:00 — 23 hours |
|---|---|
| DAX future (FDAX, FDXM, FDXS) | 02:15 Berlin time (01:15 in winter) until 22:00 |
| FTSE 100 future | 22:00 London time the evening before (first trade at 01:00) until 21:00 |
| AEX future (FTI, MFA) | 08:00 until 22:00 Amsterdam time |
| Regular trading hours, for comparison | 09:30–16:00 New York, 09:00–17:30 Berlin, 08:00–16:30 London, 09:00–17:30 Amsterdam |
PsH future and PsL future are the highest and lowest price over that whole session. News that arrives before the stock market opens, or reactions in the evening, are all part of it — which is why the future's high or low is often set outside regular trading hours.
PsH / PsL future or PsH / PsL index?
Basics also draws the high and low of the index itself, during regular trading hours only: PsH / PsL index. The two pairs differ in three ways:
- Period. The future's levels cover the full session, the index's levels only the stock market's hours.
- Price level. The future trades at a premium or discount to the index (the cash-future difference). Basics converts the index's levels to futures prices, so on your chart you compare like with like.
- Where the line starts. The future's lines start at the beginning of the previous futures session, the index's lines at the previous stock market open.
In the chart above, FDAX's high of 5 October, 25,503, was set at 21:20 in the evening. During Xetra hours FDAX did not get above 25,478. Only the future's line shows the level FDAX actually turned on the next day.
How Basics shows them
PsH future and PsL future are not only for futures traders. Basics also draws them on CFD and index charts, converted with the cash-future difference — on a CFD such as UK100, for example, the future's high and low sit where they belong on the CFD chart.
| Default look | Red, dashed, width 2 — both lines |
|---|---|
| Labels on the chart | PsH future and PsL future (renamable) |
| Switched on by default | Yes |
| Value | The main future's highest and lowest price over the full previous session |
| Where the lines start | At the start of the previous futures session (18:00 New York the evening before, 02:15 Berlin, 22:00 London the evening before, 08:00 Amsterdam) |
| Timeframes | Charts from 1 minute up to the daily chart, on seconds charts too, unless the level needs more history than the chart loads; not on weekly or monthly charts |
| Markets | Nasdaq-100, S&P 500, Dow, Russell 2000, DAX, FTSE 100 and AEX — all tickers |
| Price on your chart | Futures (main, mini, micro, nano): the main future's prices as they are. CFD and index charts: converted with the current cash-future difference |
| Lookback | 1 — the previous session only (up to 20 sessions in the settings; sessions older than about two weeks are not drawn) |
First trading day of the week or month? Then the previous session's high or low can also be last week's or last month's, and the label reads for example PsH/PwH future — one line with both names instead of two lines on the same price.
The same levels on other instruments
Click a chart to enlarge it.
Why don't I see the lines?
- The label shows another name.On the first trading day of the week or month a line can be labelled PsH/PwH future or PsL/PmL future.
- You are on a weekly or monthly chart, or a seconds chart.The lines are drawn on charts from 1 minute up to the daily chart. On a seconds chart, a level that needs more history than the chart loads is hidden.
- Price is far away from them.Lines are hidden while the level is more than 5 % from the current price, so they don't squeeze the chart. You can change this under General → Level visibility range.
- They are switched off.Check the PsH future and PsL future boxes and the master switch Show all objects in 'Futures levels' group in the indicator settings.
- Your ticker is not recognised.See the supported tickers — and if yours is missing, let me know: requests are very welcome.
What you can change
Both lines can be adjusted separately in the indicator settings (the gear icon next to Basics on your chart), under Futures levels.
| Show / hide | PsH future and PsL future checkboxes · Futures levels |
|---|---|
| Colour, width, style | Any colour · width 1–5 · solid, dashed or dotted |
| Label text | Default PsH future and PsL future |
| Lookback | 1–20 sessions (default 1: the previous session only); sessions older than about two weeks are not drawn |
| Label size, line end, visibility range | Shared with all lines · General |
Charts and defaults on this page: Basics v11.72.8 · updated 21 October 2026.
Frequently asked questions
What period does the previous session high and low of a future cover?
The full futures session: for US index futures from 18:00 New York time the evening before until 17:00, for the DAX future from 02:15 Berlin time (01:15 in winter) until 22:00. Pre-market, regular trading hours and after-hours are all included.
Why is the future's previous high higher than the index's previous high?
Because the future trades much longer than the stock market, and at a different price level. See PsH / PsL future or PsH / PsL index.
Which high and low does Basics use on a micro such as MES?
Those of the main future — for example ES on MES, or YM on MYM. A micro has its own, thinner order book, so its own high or low can differ from the main future's — for example through a short spike. With the main future's levels you trade the same levels as traders on the big contract.
Does it work on a CFD?
Yes. On a CFD — for example GER40 or US2000 — Basics converts the future's high and low with the current cash-future difference, so the lines sit at the right place on the CFD chart.
Related levels
See PsH / PsL future on your own chart
Basics is free on TradingView. Add it to any supported chart — for example RTY or a GER40 CFD — and the previous session's high and low appear without any setup.