Monthly Statistical LevelsMonthly Statistical Levels is an open-source indicator that plots monthly reference levels based on historical monthly price extensions from the monthly open.
The goal of the script is to provide a clean statistical map for the current and recent months. It is designed as a market structure and reference-level tool, not as a buy/sell signal system.
How it works
The script uses completed monthly candles from PulseWire data.
For each completed month, it calculates two historical extensions:
High extension:
Monthly High minus Monthly Open, divided by Monthly Open.
Low extension:
Monthly Open minus Monthly Low, divided by Monthly Open.
These historical extensions are stored separately for upside and downside movement.
At the start of each new month, the script uses the current monthly open and projects five reference levels:
Strong High
Avg High
Open
Avg Low
Strong Low
Avg High is based on the historical average upside extension from the monthly open.
Avg Low is based on the historical average downside extension from the monthly open.
Strong High uses the average upside extension plus a configurable standard deviation multiplier.
Strong Low uses the average downside extension plus a configurable standard deviation multiplier.
By default, the strong multiplier is set to 1.0, meaning strong levels use the historical average extension plus one standard deviation.
Lookback options
Users can choose the statistical lookback used for the calculations:
24 months
36 months
60 months
120 months
All available history
Using all available history can make the levels more stable, but it may also mix different market regimes. This is especially important for assets with structural changes, short trading histories, or very different behavior across cycles.
No lookahead logic
The indicator uses completed monthly candles to build the historical sample.
Each month keeps the levels calculated with the information available at the start of that month. The current month is used only for its monthly open, which is known once the month begins.
This means the levels are not recalculated using future monthly highs or lows.
How to use it
The levels can be used as a visual reference for monthly range structure.
Possible uses include:
Identifying where price is trading relative to its monthly statistical range.
Comparing the current month with recent monthly behavior.
Observing when price reaches average or stronger historical extension zones.
Keeping a cleaner chart with only the most recent visible months.
Main settings
Visible months:
Controls how many recent months are displayed. The default is 6 and the maximum is 12 to keep the chart readable.
Statistical lookback:
Controls the historical sample used to calculate average and strong levels.
Minimum closed months:
Defines the minimum number of completed monthly candles required before plotting levels.
Strong multiplier:
Controls how far strong levels are placed from average extension levels using standard deviation.
Labels:
Users can show labels only for the current month, for all visible months, or turn labels off.
Alerts
The script includes optional alert conditions for touches of:
Strong High
Avg High
Open
Avg Low
Strong Low
Limitations
This indicator does not predict future price movement.
It does not identify support or resistance with certainty.
It does not generate buy or sell signals.
It does not evaluate trend, fundamentals, macro conditions, liquidity, positioning, or news.
The levels depend on the PulseWire symbol selected, the available historical data, and the chosen lookback window.
Why it may be useful
Many traders look at monthly opens, monthly ranges, and volatility-based zones separately. This script combines those ideas into one clean open-source tool: monthly open-based statistical levels built from completed historical monthly extensions.
It helps traders visualize where price is trading relative to its own historical monthly behavior, while keeping the chart simple and readable. Indicator
Reference Price Operating Map [AGPro Series]Reference Price Operating Map
🔹 OVERVIEW
Reference Price Operating Map is a focused overlay that consolidates the four most universally watched reference prices — Daily Open, Weekly Open, Monthly Open, and Previous Close — into a single operating map. It tracks how price interacts with each level in real time, attributes control to the reference currently leading price action, groups overlapping references into confluence clusters, and fades distant context so the active map stays clean.
The chart answers one direct question at a glance: which reference is controlling the session right now.
Built for intraday operators, swing traders, and position traders who anchor their bias to session and period opens. Works on any symbol and any intraday or daily timeframe.
🔸 WHAT MAKES IT DIFFERENT
Most open-line indicators simply draw horizontal lines for Daily, Weekly, Monthly, and Previous Close and stop there. This script goes further by adding four layers on top of those lines:
• State tracking — each reference is classified as Untouched, 1st Touch, Tested, Held, Reclaimed, or Rejected, and the state updates bar by bar as price interacts with the level.
• Control attribution — a proximity-weighted scoring system selects one reference as the current "controller" of price action, highlighted with a dominant-row background in the panel and a thicker line on the chart.
• Confluence grouping — when two or more references sit within 0.5 ATR of each other, they collapse into a single cluster label (for example "D-Open + W-Open + PClose") instead of stacking separate labels on top of each other.
• Distance-aware rendering — references far from current price are demoted to a thin gray zone with a dotted line, keeping them visible as structural context without crowding the active map.
The engine also includes a far-aware state machine: references that price has not meaningfully engaged stay in the Untouched state instead of being forced into misleading classifications.
🔷 METHODOLOGY
Reference levels are pulled directly from the higher timeframe open (Daily, Weekly, Monthly) and the previous daily close using lookahead-safe security calls on confirmed bars.
Distance classification uses ATR(14) as a volatility scale. A reference is considered "near" when price is within a configurable ATR multiple and "far" when it exceeds the far-distance threshold. This adapts the map to both low-volatility ranges and high-volatility expansions without manual tuning.
State transitions are driven by a finite state machine with six states. Key transitions:
• Untouched → 1st Touch when price enters the touch zone (default 0.25 ATR) or wicks through it.
• 1st Touch / Tested → Held when price moves cleanly away from the level on the same side.
• 1st Touch / Tested → Reclaimed when price closes on the opposite side (optionally requiring multi-bar confirmation).
• Any engaged state → Rejected when a large wick rebounds from the level with more than 60 percent wick ratio.
• Held / Rejected → Reclaimed on a confirmed cross.
The control score combines proximity (how close price is to the reference relative to ATR) with a state weight (Reclaimed and 1st Touch score highest, Held scores lowest). The reference with the highest score is tagged as controller; if no reference has meaningful engagement the panel reports No Active Control.
🔶 SIGNALS AND ALERTS
Three alert conditions are exposed:
• Reference Touched — fires the first time any reference is touched in its period.
• Reference Reclaimed — fires when any reference transitions into the Reclaimed state.
• Reference Rejected — fires when a large-wick rejection bar is registered at any reference.
On-chart, first-touch diamond markers are placed on recent bars to make period engagement easy to spot in screenshots and reviews. The panel footer reports the current controller and updates in real time.
🔹 KEY INPUTS
Reference Lines — independent toggles for Daily Open, Weekly Open, Monthly Open, and Previous Close.
Display — Show Active References Only (hide untouched references for a cleaner map), Strict Reclaim Confirmation (require multiple confirmation bars for Reclaim), Label Density (Minimal shows only the dominant reference, Normal shows all active, Detailed appends state names to labels), Show Reaction Bands, Mark First Touches.
Panel — position (four corners), font size, label font size. All default to Normal per AG Pro Series visual standards.
Sensitivity — Touch Threshold (ATR multiple defining a touch), Reclaim Confirm Bars (strict-mode confirmation count), Band Width (reaction band width in ATR), Far Distance (ATR multiple beyond which references are faded to context).
All parameters are ATR-scaled so defaults transfer cleanly across instruments and timeframes.
🔸 HOW TO USE
1. Open the panel and read the controller. If the footer shows "D-Open Controls" with a Bull bias, intraday operators treat Daily Open as the session pivot and trade with that bias until the state changes.
2. Watch the confluence label. A grouped label such as "D-Open + W-Open + PClose" means three references are stacked — a cluster of this kind is typically a higher-conviction zone than a single isolated reference.
3. Use state transitions as triggers. A Rejected state at Monthly Open during a rally is a different signal than a Reclaimed state at the same level. The state tells you what just happened at the level, not just where the level is.
4. Use the far zone as context. A Monthly Open plotted as a gray zone five ATR away from price is not an execution level — it is orientation. When price approaches it, the zone transitions into an active band and the state engine re-engages.
5. Combine with your own structure work. This map is designed to sit underneath price action analysis, order flow, or trend tools, not replace them.
🔷 LIMITATIONS AND TRANSPARENCY
• This is an indicator, not a strategy. No entries, exits, position sizing, or backtesting is performed.
• Reference prices are sourced from higher timeframe candles using confirmed lookahead. Results on intraday charts should match the official Daily, Weekly, and Monthly opens of the exchange the chart is connected to.
• State classifications are heuristic. They describe observed behavior at each level in historical terms and should not be read as forecasts. A Reclaimed state is a description of what just happened, not a prediction of what comes next.
• ATR-based thresholds mean the map adapts to volatility but can feel different on very low-volume or very thinly traded instruments. Adjust the touch threshold and far distance inputs if defaults feel too loose or too tight.
• Confluence grouping uses a 0.5 ATR window. On very wide-range days this window can become large; on very narrow ranges it can feel tight.
🔶 RISK DISCLOSURE
This indicator is provided for informational and educational purposes only. It does not constitute financial advice, investment advice, trading advice, or any other form of advice. Past performance of any level, state, or methodology shown on the chart does not guarantee future results. Trading and investing involve substantial risk of loss. You alone are responsible for your decisions, for managing your risk, and for complying with the laws and regulations that apply to you. Test any tool on a demo account or in paper trading before using it with real capital. Indicator
JL - DWM OHLCThis indicator plots the following price levels on your chart automatically AND will not show up if you are using a timeframe bigger than 60 minutes, 1 day, or 1 week.
Here are the price levels that are automatically plotted for you, and so you know the styling is different for Daily, Weekly, Monthly levels so you can easily distinguish between them:
- Prior Day: High / Low / Close
- Current Day: Open
- Prior Week: High / Low / Close
- Current Week: Open
- Prior Month: High / Low / Close
- Current Month: Open
These plots are timeframe dependent and will not plot on subsequently higher timeframes, here is how they work:
Daily Price Levels are only shown on timeframes that are smaller than 60 minutes.
Weekly Price Levels are only shown on timeframes smaller than 1 Day.
Monthly Price Levels are only shown on timeframes smaller than 1 Week.
This way, you can turn on the indicator and not have to think about turning off certain price levels if you switch to a larger / longer timeframe than what you typically use.
For example, Daily OHLC price levels will quickly clutter the 60 minute chart, and likely you don't need to know the HLC of the Prior Day if you are looking at the 60 minute chart. Therefor it may be helpful to automatically hide the Daily price level plots, and only show the Weekly and Monthly plots on the 60 minute timeframe.
I hope you find this indicator helpful, thanks for reading.
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