OPEN-SOURCE SCRIPT
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.
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.
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。