#Investopedia falling wedge how to#

Values 'BAR', 'MINUTE', 'HOUR', 'DAY', 'WEEK', 'MONTH', and 'OPT EXP' allow you to set aggregation manually, specifying number of these periods within the 'multiplier' input.ĭefines the number of periods to calculate Monkey Bars. Setting this parameter to 'CHART' involves the entire price plot into calculation. 'TICKSIZE' defines the height of each row equal to the tick size of the charted symbol, and 'CUSTOM' allows you to manually set the height of each row.ĭefines the price interval to set the height of rows when 'CUSTOM' mode is selected within the 'price per row height mode' input.ĭefines the time period upon which the TPOs are accumulated.ĭefines the Monkey Bars time period. 'AUTOMATIC' splits the trading range of the time period into 50 equal intervals. Input Parametersĭefines the height setting mode for each row of the histogram.

#Investopedia falling wedge how to#

See the Input Parameters section to learn how to customize display properties of these features. You can also complement sections of Monkey Bars with Volume Profile histograms and Initial Balance brackets. By default, the price range surrounding the Monkey Bar level where 70% of the trading activity took place for the specified time period is called The Playground (note that the percentage is customizable within the 'the playground percent' input parameter). Should the rows be equidistant from the mid-range, the system recognizes the lower one as the Monkey Bar. If there are several equally long rows that fit this description, the system chooses the closest to the price mid-range. The longest row of Monkey Bars defines the price level which was the most frequent during the specified time period this level is called Monkey Bar (MB). Note that if the number of aggregation periods exceeds 10, each following decade is represented by a sequence of digits starting with 1 and highlighted with a different color. This procedure is repeated for each aggregation period within the time period TPOs are assigned consequent numbers so that the study has a set of columns filled with numbers as a primary result.Įach column is then collapsed to the leftmost one. Once the first aggregation period is over, its price range is defined with a column split into equal intervals, each one marked with digit '1' the study proceeds to find TPOs for the second aggregation period, assigning digit '2' to the TPOs.

When the price falls into a specified interval within the first aggregation period, the interval is assigned digit '1'. The Monkey Bars study is made up of Time-Price opportunities (TPOs), each one is represented by a digit. The Monkey Bars study represents trading activity over a time period at specified price levels.