Monday's Range Superpowerkyu

🔔 Settings
You can customize the colors and toggle ON/OFF in the indicator settings.
Works on daily, hourly, and minute charts.
Easily visualize Monday’s high, low, and mid-line range.


📌 1. Support & Resistance with Monday’s Range

Monday High: Acts as the first resistance of the week.
◽ Example: If price breaks above Monday’s high after Tuesday, it signals potential bullish continuation → long setup.


Monday Low: Acts as the first support of the week.
◽ Example: If price breaks below Monday’s low, it signals bearish continuation → short setup.


📌 2. Mid-Line Trend Confirmation

Monday Mid-Line = average price of Monday.

Price above mid-line → bullish bias.

Price below mid-line → bearish bias.

Use mid-line breaks as entry confirmation for long/short positions.

📌 3. Breakout Strategy

Break of Monday’s High = bullish breakout → long entry.

Break of Monday’s Low = bearish breakout → short entry.

Place stop-loss inside Monday’s range for a conservative approach.

📌 4. False Breakout Strategy

If price breaks Monday’s high/low but then falls back inside Monday’s range, it is a False Breakout.

Strategy: Trade in the opposite direction.
◽ False Breakout at High → short.
◽ False Breakout at Low → long.

Stop-loss at the wick (extreme point) of the failed breakout.

📌 5. Range-Based Scalping

Use Monday’s high and low as a trading range.

Sell near Monday’s High, buy near Monday’s Low, repeat until breakout occurs.

📌 6. Weekly Volatility Forecast

Narrow Monday range → higher chance of strong trend later in the week.

Wide Monday range → lower volatility expected during the week.

📌 7. Pattern & Trend Analysis within Monday Range

Look for candlestick patterns around Monday’s High/Low/Mid-Line.
◽ Example: Double Top near Monday’s High = short setup.
◽ Repeated bounce at Mid-Line = strong long opportunity.

✅ Summary
The Monday’s Range (Superpowerkyu) Indicator helps traders:

Identify weekly support & resistance

Confirm trend direction with Mid-Line

Trade breakouts & false breakouts

Apply range scalping strategies

Forecast weekly volatility

⚡ Especially, the False Breakout strategy is powerful as it captures failed moves and sudden sentiment reversals.