PmH / PmL future: the future's high and low of last month
PmH future and PmL future stand for previous month high, future and previous month low, future: the highest and lowest price of the main future — for example ES or YM — over the whole previous month, overnight and after-hours trading included. Together they frame the futures market's range of a whole month. Basics draws them on futures (main, mini, micro, nano) as they are, and converts them to the right price on CFD charts and charts of the official index. This page explains what the lines show, what happens after a quarterly roll and how to adjust them.
On this page
1 Sep1 Oct · new month
123456
- 1Wednesday 16 September — ES makes its September low: 7,575.
- 2Tuesday 22 September — the September high: 7,848.50.
- 3Thursday 1 October — September's high and low become PmH future and PmL future, and stay on the chart all month.
- 4Monday 5 October, 15:15 — ES climbs to 7,847.50, one point under PmH future, and stalls; the next day it breaks through to 7,897.50.
- 5Monday 12 and Tuesday 13 October — now from above, the dips stop at or just under the line: 7,846.25 and 7,834.50.
- 6Wednesday 14 October — ES falls through it and trades at 7,741 that afternoon.
Part of Basics
Free TradingView indicator with all session, week and month levels for index, futures and CFD charts.
Install Basics (free) →What last month's high and low of the future are
Index futures trade almost around the clock, so the future's month is much longer than the stock market's: for US index futures every session runs from 18:00 New York time the evening before until 17:00, for FDAX from early in the morning until 22:00 Berlin time. PmH future and PmL future are the highest and lowest price of the main future in all of that time over the previous month.
Futures month or index month?
A high or low made overnight or after the stock market has closed only counts for the future. The index's own high and low, during regular trading hours only, are drawn as separate lines: PmH / PmL index. On many days the two are close; when a big move happens outside the stock market's hours, they are not.
How Basics shows them
PmH future and PmL future are drawn on every supported chart — futures (main, mini, micro, nano), CFDs and the index itself. On a mini, micro or nano future, for example MES or MYM, you see the main future's high and low (ES or YM), the same levels as traders on the big contract; on a CFD or index chart they are converted with the current cash-future difference.
| Default look | Dark red, dashed, width 2 — both lines |
|---|---|
| Labels on the chart | PmH future and PmL future (renamable) |
| Switched on by default | Yes |
| Value | The main future's highest and lowest price over the full previous month |
| Price on your chart | Futures (main, mini, micro, nano): the main future's price as it is. CFD and index charts: converted with the current cash-future difference |
| Where the lines start | At the start of last month's futures trading; they run through the whole current month |
| Timeframes | Charts from 1 minute up to the weekly chart, on seconds charts too, unless the level needs more history than the chart loads; not on monthly charts |
| Markets | Nasdaq-100, S&P 500, Dow, Russell 2000, DAX, FTSE 100 and AEX — all tickers |
| Lookback | 1 — last month only (up to 20 months) |
Right after a quarterly roll? In March, June, September and December the main future switches to the next contract, and last month's high or low can come from the old contract — as in September 2026, when ES switched to the December contract on Monday 14 September (18:00 New York) and FDAX on the 18th. Basics can also draw a b-adj version from the back-adjusted contract series; it only appears while the two differ. It is off by default, under Futures levels; see back-adjusted levels explained.
The same level on other instruments
Click a chart to enlarge it.
Why don't I see the lines?
- You are on a monthly chart, or on a seconds chart that loads too little history.The lines are drawn on charts from 1 minute up to the weekly chart.
- They are switched off.Check the PmH future and PmL future boxes and the master switch Show all objects in 'Futures levels' group in the indicator settings.
- 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.
- 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
In the indicator settings (the gear icon next to Basics on your chart), under Futures levels:
| Show / hide | PmH future and PmL future checkboxes · Futures levels |
|---|---|
| Colour, width, style | Any colour · width 1–5 · solid, dashed or dotted |
| Label text | Default PmH future and PmL future |
| Lookback | 1–20 months (default 1) |
| Back-adjusted version | PmH future b-adj and PmL future b-adj, off by default · Futures levels |
| 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 month high and low of a future?
The highest and lowest price of the main future over the whole previous month, including overnight and after-hours trading.
Why is PmH future different from PmH index?
The future trades almost around the clock and at a different price than the index. A high made after the stock market has closed only counts for the future.
What happens after a quarterly roll?
Last month's high or low can come from the old contract. Basics can also draw a b-adj version from the back-adjusted series; it is off by default and only appears while the two differ.
Do the lines work on MES or MYM?
Yes. On a micro you see the main future's high and low (ES or YM), the same levels as on the big contract.
Do the lines work on a CFD?
Yes. On a CFD such as US500 or GER40 they are converted with the current cash-future difference.
Related levels
See PmH / PmL future on your own chart
Basics is free on TradingView. Add it to any supported chart — for example ES or MYM — and last month's futures high and low appear without any setup.