This indicator is developed to mark out yearly, monthly, weekly and daily levels. Allows you to select if you want to plot the open, high or low. Don't really recommend using the indicator for closes as it looks ahead to the current bar so it will just show the current price as the close.
High timeframe opens specifically are great levels to watch for reactions....
This script plots the current daily, weekly and monthly opens (all enabled by default).
Here are some additional info about the drawing behavior:
Daily open is shown only on intraday timeframes
Weekly open is shown only on timeframes < weekly
Monthly open is shown only on timeframes < monthly