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.
