Breakout Alert
Breakout Alert shows when the market is quiet and compressed (a "squeeze"), and labels the moment the squeeze ends and a move starts.
It is built on the Squeeze Momentum idea.
HOW TO READ IT
- Histogram = momentum. Bright green: up and getting stronger. Dark green: up but fading. Bright red: down and getting stronger. Dark red: down but fading.
- Dots on the zero line = how squeezed the market is: orange = tight squeeze, red = squeeze, grey = loose squeeze, blue = no squeeze.
- FIRED UP / FIRED DOWN label: a squeeze of at least 4 bars just ended, in the direction of momentum.
- fired (filtered) (grey label): a breakout against the 200-bar trend, so be careful.
- "Now: ..." at the right edge, for example "Now: tight squeeze (12 bars), momentum up, rising".
- Top-left panel: squeeze state on the weekly and monthly charts, plus the color legend.
- Top-right table: how past breakouts on this chart moved, next to any bar for comparison.
WHAT IS NEW COMPARED WITH THE ORIGINAL
This version keeps the same momentum histogram, colors and default lengths, and adds:
1. The Bollinger Band fix: the original published code used the Keltner multiplier for the Bollinger Bands. That is fixed by default, with a switch to reproduce the old behavior.
2. Squeeze depth: three levels (Keltner 1.0 / 1.5 / 2.0) instead of one.
3. FIRED UP / FIRED DOWN text labels when a squeeze of at least N bars ends (default 4), in the pane and optionally on the price chart.
4. An optional trend filter: up breakouts only above the 200-bar average, down breakouts only below, optionally also ADX 18 or more. Removed signals stay visible in grey.
5. A higher-timeframe panel (weekly and monthly by default), using the last closed bar so it does not repaint.
6. A stats table: average move after 20 bars in the signal's direction and how often it was right, next to any bar.
7. Alerts: squeeze on, fired up, fired down.
SETTINGS
- Bollinger 20 / 2.0, Keltner 20 / 1.5, true range on (original defaults).
- Depth levels: tight 1.0, loose 2.0.
- Minimum squeeze length: 4 bars. Trend filter: Off / 200 MA direction (default) / 200 MA direction + ADX.
- Higher timeframes: W and M. Stats horizon: 20 bars.
NOTES AND LIMITS
- In my test on daily QQQ and SPY, breakouts were rare and did not beat a random day. On those ETFs it works better as a "quiet vs active market" view than as an entry signal. Check the table on your own symbol and timeframe.
- The momentum line is smoothed, so it lags.
CREDIT
Based on the open-source "Squeeze Momentum Indicator [LazyBear]" by LazyBear, which comes from John Carter's TTM Squeeze idea. Thank you to both. This is a Pine v6 rewrite with new features on top.
DISCLAIMER
For education only. This is not financial advice. Past results and backtests do not guarantee future results.
It is built on the Squeeze Momentum idea.
HOW TO READ IT
- Histogram = momentum. Bright green: up and getting stronger. Dark green: up but fading. Bright red: down and getting stronger. Dark red: down but fading.
- Dots on the zero line = how squeezed the market is: orange = tight squeeze, red = squeeze, grey = loose squeeze, blue = no squeeze.
- FIRED UP / FIRED DOWN label: a squeeze of at least 4 bars just ended, in the direction of momentum.
- fired (filtered) (grey label): a breakout against the 200-bar trend, so be careful.
- "Now: ..." at the right edge, for example "Now: tight squeeze (12 bars), momentum up, rising".
- Top-left panel: squeeze state on the weekly and monthly charts, plus the color legend.
- Top-right table: how past breakouts on this chart moved, next to any bar for comparison.
WHAT IS NEW COMPARED WITH THE ORIGINAL
This version keeps the same momentum histogram, colors and default lengths, and adds:
1. The Bollinger Band fix: the original published code used the Keltner multiplier for the Bollinger Bands. That is fixed by default, with a switch to reproduce the old behavior.
2. Squeeze depth: three levels (Keltner 1.0 / 1.5 / 2.0) instead of one.
3. FIRED UP / FIRED DOWN text labels when a squeeze of at least N bars ends (default 4), in the pane and optionally on the price chart.
4. An optional trend filter: up breakouts only above the 200-bar average, down breakouts only below, optionally also ADX 18 or more. Removed signals stay visible in grey.
5. A higher-timeframe panel (weekly and monthly by default), using the last closed bar so it does not repaint.
6. A stats table: average move after 20 bars in the signal's direction and how often it was right, next to any bar.
7. Alerts: squeeze on, fired up, fired down.
SETTINGS
- Bollinger 20 / 2.0, Keltner 20 / 1.5, true range on (original defaults).
- Depth levels: tight 1.0, loose 2.0.
- Minimum squeeze length: 4 bars. Trend filter: Off / 200 MA direction (default) / 200 MA direction + ADX.
- Higher timeframes: W and M. Stats horizon: 20 bars.
NOTES AND LIMITS
- In my test on daily QQQ and SPY, breakouts were rare and did not beat a random day. On those ETFs it works better as a "quiet vs active market" view than as an entry signal. Check the table on your own symbol and timeframe.
- The momentum line is smoothed, so it lags.
CREDIT
Based on the open-source "Squeeze Momentum Indicator [LazyBear]" by LazyBear, which comes from John Carter's TTM Squeeze idea. Thank you to both. This is a Pine v6 rewrite with new features on top.
DISCLAIMER
For education only. This is not financial advice. Past results and backtests do not guarantee future results.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.
إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.