Weekly High/Low Day Breakdown

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The "Weekly High/Low Day Breakdown" is a tool designed to help identify patterns in market behaviour by analysing the days of the week when weekly highs and lows occur. This indicator calculates the frequency and percentage of weekly highs and lows for each day from Monday to Sunday within the visible range of your chart.

Features:

• Weekly Analysis: Calculates weekly highs and lows based on daily open high and low prices from Monday to Sunday.
  
• Day-Specific Breakdown: Tracks which day of the week each weekly high and low occurred.
  
• Visible Range Focus: Only considers data within the current visible range of your chart for precise analysis.
  
• Interactive Table Display: Presents the results in an easy-to-read table directly on your chart.
  

How It Works:

• Data Collection: Fetches daily high, low, day of the week, and time data regardless of your chart's timeframe. Uses these daily figures to determine the weekly high and low for each week.
  
• Weekly Tracking: Monitors the day of the week when the weekly high and low prices occur. Resets tracking at the end of each week (Sunday).
  
• Visible Range Analysis: Only includes weeks that fall entirely within the visible time range of your chart. Ensures that the analysis is relevant to the period you are focusing on.
  
• Percentage Calculation: Counts the occurrences of weekly highs and lows for each day. Calculates the percentage based on the total number of weeks in the visible range.
  
• Result Display: Generates a table with days of the week as columns and "Weekly High" and "Weekly Low" as rows. Displays the percentage values, indicating how often highs and lows occur on each day.
  

How to Use:

• Add the Indicator: Apply the "Weekly High/Low Day Breakdown" indicator to your TradingView chart.
  
• Adjust Visible Range: Zoom in or out to set the desired visible time range for your analysis.
  

Interpret the Table:

• Columns: Represent days from Monday to Sunday.
  
• "Weekly High" Row: Shows the percentage of times the weekly high occurred on each day. "Weekly Low" Row: Shows the percentage of times the weekly low occurred on each day.
  
• Colors: Blue text indicates high percentages, red text indicates low percentages.
  

Example Interpretation:
If the table shows a 30% value under "Tuesday" for "Weekly High," it means that in 30% of the weeks within the visible range, the highest price of the week occurred on a Tuesday.

Similarly, a 40% value under "Friday" for "Weekly Low" indicates that 40% of the weekly lows happened on a Friday.