Weekly Open + Monday High/Low (After Monday Close)

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b]Description

This indicator marks key weekly reference levels based on Monday’s price behavior.
It automatically detects each trading week and tracks:

• Weekly Open – the first traded price of the new week
• Monday High – the highest price reached on Monday
• Monday Low – the lowest price reached on Monday

Logic
The Monday range is fully captured only after Monday has closed.
No levels are plotted during Monday.
Starting from Tuesday, the indicator displays thin dots showing the completed Monday High, Monday Low, and Weekly Open for the remainder of the week.

When a new week begins, the indicator resets automatically and begins tracking the new week’s Monday.

Customization
The user can choose colors for:
• Monday High/Low
• Weekly Open

Purpose
This indicator helps traders visualize weekly structure, monitor weekly opening levels, and quickly identify Monday’s range for weekly bias analysis or strategy development.
It can also be used to manually backtest Monday range strategies.

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Phát hành các Ghi chú

Added background color to monday.

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Added monday mid range.

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Updated example chart.

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Phát hành các Ghi chú

Updated example chart.