PDLOW is the previous day low. PDLOW (though its name suggests a Previous Day) is just a previous candle, so you can use it on any supported time period.
This buy strategy is true when spread is higher/lower than the spread between previous candle low and the current price of current candle of a trading pair.
Use Tradingview to visualize this indicator
View on Tradingview
PDLOW_candle_period
OPTIONAL:
PDLOW_range
This setting is optional and provides a way to search for a low within a specified range.
So previous candle low for ETHBTC was 0.034432
Current bid price is about 0.0356225
So the PDLOW value is positive (3.45%).
# Buy when price is 0.5% above last candle low price
DEFAULT_D_buy_strategy_label = MYPDLOW
DEFAULT_D_buy_strategy = PDLOW
DEFAULT_D_buy_value = 0.5
# Sell when price is 5% above last candle low price
DEFAULT_D_sell_strategy_label = MYPDLOW
DEFAULT_D_sell_strategy = PDLOW
DEFAULT_D_sell_value = 5
# Buy when price is -5% below last candle low price
DEFAULT_DCA_D_buy_strategy_label = MYPDLOW
DEFAULT_DCA_D_buy_strategy = PDLOW
DEFAULT_DCA_D_buy_value = -5
# Sell when price is 0.1% above last candle low price
DEFAULT_DCA_D_sell_strategy_label = MYPDLOW
DEFAULT_DCA_D_sell_strategy = PDLOW
DEFAULT_DCA_D_sell_value = 0.1
# 1 hour candle / timeframe
MYPDLOW_candle_period = 3600