OPEN-SOURCE SCRIPT
Updated Enzo's Monthly Fractal Ledger: Time sequence OHLC/OLHC
Overview
This indicator identifies the institutional intent of the Monthly candle by analyzing the sequence of price delivery through four time-based quarters.
Core Logic
OLHC (Bullish): Classified when the Monthly Low is established in a quarter preceding the Monthly High.
OHLC (Bearish): Classified when the Monthly High is established in a quarter preceding the Monthly Low.
5-Week Month Handling: Implements where Week 3 and 4 are combined into Q3 to capture the stretched distribution/trap window.
Features
Historical Ledger: Displays a table of the last 6 months to track macro bias shifts.
Export-Ready: User can export the structural data (Structure ID, H/L Quarters)
Background Highlights: Green background indicates the week was an Open Low and Red background indicates an Open High week.
This indicator identifies the institutional intent of the Monthly candle by analyzing the sequence of price delivery through four time-based quarters.
Core Logic
OLHC (Bullish): Classified when the Monthly Low is established in a quarter preceding the Monthly High.
OHLC (Bearish): Classified when the Monthly High is established in a quarter preceding the Monthly Low.
5-Week Month Handling: Implements where Week 3 and 4 are combined into Q3 to capture the stretched distribution/trap window.
Features
Historical Ledger: Displays a table of the last 6 months to track macro bias shifts.
Export-Ready: User can export the structural data (Structure ID, H/L Quarters)
Background Highlights: Green background indicates the week was an Open Low and Red background indicates an Open High week.
Release Notes
Updated to allow the user to toggle on or the export of the table informationOpen-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.