PsH / PsL index: the index's previous high and low
PsH index and PsL index stand for previous session high, index and previous session low, index: the highest and lowest value of the official index itself — for example the DAX or the Nasdaq-100 — during the previous day's regular trading hours, when the stock market is open. Overnight and after-hours trading in futures and CFDs is not part of it. On a futures chart you can't simply draw them: futures such as FDAX or MES trade tens to hundreds of points away from their index (the cash-future difference). Basics converts the index's high and low to futures prices with the current cash-future difference, so the lines sit exactly where those levels lie on your futures chart. On CFD and index charts they are shown as they are. This page explains what the lines show, how they differ from the future's own high and low, and how to adjust them.
On this page
Friday 09:00 · Xetra opensMonday · new trading day
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- 1Friday 09:00 — Xetra opens and the lines start. During Xetra hours the DAX makes its low (24,955.71 at 09:35) and its high (25,164.74 at 15:35). FDAX traded about 137 points above the DAX, so in FDAX prices that is about 25,093 and 25,302.
- 2Friday evening — after Xetra closes, FDAX trades above the line (25,326 at 20:50). That is futures trading; it does not change the DAX's high.
- 3Monday 09:00 — as Xetra opens, FDAX dips to 25,304, 2 points above the index high of Friday, and turns.
- 409:00–09:55 — FDAX climbs 100 points to 25,404.
Part of Basics
Free TradingView indicator with all session, week and month levels for index, futures and CFD charts.
Install Basics (free) →What the index's high and low are
An index is only calculated while its stock market is open: 09:30–16:00 New York time for the Nasdaq-100, S&P 500, Dow and Russell 2000, 09:00–17:30 Berlin time for the DAX and 08:00–16:30 London time for the FTSE 100. Its high and low of the day are the highest and lowest values in that window — the numbers on every index chart and in every market report.
Many traders watch them the next day: a move back to yesterday's high or low is a natural place for price to stall, turn or break out.
Index session or futures session?
This is the key difference with the future's own high and low. A future trades almost around the clock, so "yesterday's high" of a future covers a much longer period than the index:
| PsH / PsL index · PsH / PsL future | |
| Period | Regular trading hours only · the full futures session |
| US (New York time) | 09:30–16:00 · 18:00 the evening before until 17:00 |
| DAX (Berlin time) | 09:00–17:30 · 02:15 (01:15 in winter) until 22:00 |
| FTSE 100 (London time) | 08:00–16:30 · 22:00 the evening before until 21:00 |
| AEX (Amsterdam time) | 09:00–17:30 · 08:00 until 22:00 |
| Overnight and after-hours | Not included · included |
| Source | The official index · the main future |
| Line starts | At the previous stock market open · at the start of the previous futures session |
| Default line | Red, solid · red, dashed |
When the market makes its extreme outside regular trading hours — on news before the open or in the evening — the future's high or low lies further out than the index's. On Friday 9 October, the day in the chart, FDAX traded up to 25,326 in the evening, while the DAX's high in FDAX prices was about 25,300. Both levels are shown on the PsH / PsL future page.
Why you don't see them on a futures chart
Draw a line at the DAX's high of 25,164.74 on an FDAX chart and it lands about 137 points too low — the whole cash-future difference away from where the level matters. Basics converts the index's high and low to futures prices with the current cash-future difference, so you can trade them on a futures chart — for example FDAX, or the micro MNQ — like any other level. On a CFD such as GER40 or US500, which follows the index, the lines are the index values themselves.
How Basics shows them
PsH index and PsL index are not only for index charts. Basics draws them on every supported chart — futures (main, mini, micro, nano), CFDs and the index itself — each time at the right price for that chart. On FDAX or FDXM, for example, the DAX's high and low are converted with the cash-future difference.
| Default look | Red, solid, width 2 — both lines |
|---|---|
| Labels on the chart | PsH index and PsL index (renamable) |
| Switched on by default | Yes |
| Value | The index's highest and lowest value during the previous session's regular trading hours |
| Where the lines start | At the previous session's stock market open (09:30 New York, 09:00 Berlin, 08:00 London, 09:00 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): converted with the current cash-future difference. CFD and index charts: the index values themselves |
| Lookback | 1 — the previous session only (up to 20 sessions, set in the indicator settings) |
First trading day of the week or month? Then yesterday's high or low can also be last week's or last month's, and the label reads for example PsH/PwH index — 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 stock market has only just closed.Today's high and low become PsH/PsL index when the next session begins. Until then you see the previous ones.
- The label shows another name.On the first trading day of the week or month a line can be labelled PsH/PwH index or PsL/PmL index.
- 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 index and PsL index boxes and the master switch Show all objects in 'Index 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 Index levels.
| Show / hide | PsH index and PsL index checkboxes · Index levels |
|---|---|
| Colour, width, style | Any colour · width 1–5 · solid, dashed or dotted |
| Label text | Default PsH index and PsL index |
| Lookback | 1–20 sessions (default 1: the previous session only) |
| 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 is the previous day high and low of an index?
The highest and lowest value of the index during the previous trading day's regular trading hours: 09:30–16:00 New York time for the US indices, 09:00–17:30 Berlin time for the DAX. Pre-market and after-hours trading in futures or CFDs is not part of it.
Why is the previous day high of the DAX different from the previous high of FDAX?
The DAX is only calculated while Xetra is open; FDAX trades from early morning until 22:00 and at a different price. See index session or futures session.
Can I see the index's previous high and low on ES or FDAX?
Yes. On index futures Basics converts them to futures prices with the current cash-future difference. On a CFD such as US500 or GER40 they are shown at the index price itself.
What is the difference between PsH/PsL index and PsH/PsL future?
PsH/PsL index covers the index during regular trading hours only; PsH/PsL future covers the main future's full session, including overnight and after-hours trading.
Related levels
See PsH / PsL index on your own chart
Basics is free on TradingView. Add it to any supported chart — for example FDAX or MNQ — and yesterday's index high and low appear in your chart's prices without any setup.