OPEN-SOURCE SCRIPT
Strong Gold Breakouts M5 | ProjectSyndicate
⚙️ Gold short-term entries off M5 timeframe using dynamic consolidation zones with ADR-based TP targets.
📦 Advanced Consolidation Structure: The indicator detects and plots high-probability consolidation zones using a multi-dimensional 0–10 scoring algorithm. Only the strongest zones (score 6+) that span at least 10 candles are displayed, providing a robust breakout structure based on pure price compression. This is the default setting and is designed for intraday trading.
🎯 Precision Entry & Exit Levels: A color-coded consolidation box is plotted, with Buy Stop and Sell Stop dashed lines automatically placed 2 USD away from its borders. This buffer creates a neutral zone and helps filter out fakeouts.
💰 ADR-Based Profit Targets: Three Take Profit (TP) lines are plotted for both long and short trades (TP1, TP2, TP3). These levels are dynamically calculated as a percentage of the 10-day Average Daily Range (ADR), ensuring targets adapt to current market volatility.
⚙️ Fully Customizable Levels: Every element is adjustable. You can change the buffer between the consolidation box and stop lines, and customize the exact ADR percentages for TP1 (10%), TP2 (15%), and TP3 (20%) to suit your risk profile.
🔔 M5 Breakout Alerts: The indicator includes a powerful alerts module that triggers when an M5 candle closes above the Buy Stop level or below the Sell Stop level. This provides real-time notifications with full trade details for potential entries.
🎨 Clean Visuals & Clear Labels: The zones are color-coded based on strength — White=6, Yellow=7, Orange=8, Red=9–10 — for instant recognition. The Buy Stop, Sell Stop, and TP lines are fully labeled with exact price levels, ensuring zero confusion.
⚙️ Trading Strategy & Logic
This strategy is designed for precision and requires patience. The core idea is to wait for the market to confirm a breakout of an established high-scoring consolidation zone before entering a trade.
📌 Entry Logic
🕒 Wait for a Strong Zone: Allow the indicator to detect and plot a new high-scoring consolidation zone. Do not trade old or expired zones.
🔔 Set Your Alerts: In TradingView, create a new alert and select the indicator. For the condition, choose "Any alert() function call". This will notify you the moment an M5 candle closes across a stop level.
👀 Wait for the M5 Close: For a Long Buy Trade, wait for an M5 candle to close above the Buy Stop line. For a Short Sell Trade, wait for an M5 candle to close below the Sell Stop line.
✅ Enter on Confirmation: Once you receive the alert and visually confirm the M5 candle has closed past the level, you can enter the trade targeting the dynamic ADR levels.
📦 Advanced Consolidation Structure: The indicator detects and plots high-probability consolidation zones using a multi-dimensional 0–10 scoring algorithm. Only the strongest zones (score 6+) that span at least 10 candles are displayed, providing a robust breakout structure based on pure price compression. This is the default setting and is designed for intraday trading.
🎯 Precision Entry & Exit Levels: A color-coded consolidation box is plotted, with Buy Stop and Sell Stop dashed lines automatically placed 2 USD away from its borders. This buffer creates a neutral zone and helps filter out fakeouts.
💰 ADR-Based Profit Targets: Three Take Profit (TP) lines are plotted for both long and short trades (TP1, TP2, TP3). These levels are dynamically calculated as a percentage of the 10-day Average Daily Range (ADR), ensuring targets adapt to current market volatility.
⚙️ Fully Customizable Levels: Every element is adjustable. You can change the buffer between the consolidation box and stop lines, and customize the exact ADR percentages for TP1 (10%), TP2 (15%), and TP3 (20%) to suit your risk profile.
🔔 M5 Breakout Alerts: The indicator includes a powerful alerts module that triggers when an M5 candle closes above the Buy Stop level or below the Sell Stop level. This provides real-time notifications with full trade details for potential entries.
🎨 Clean Visuals & Clear Labels: The zones are color-coded based on strength — White=6, Yellow=7, Orange=8, Red=9–10 — for instant recognition. The Buy Stop, Sell Stop, and TP lines are fully labeled with exact price levels, ensuring zero confusion.
⚙️ Trading Strategy & Logic
This strategy is designed for precision and requires patience. The core idea is to wait for the market to confirm a breakout of an established high-scoring consolidation zone before entering a trade.
📌 Entry Logic
🕒 Wait for a Strong Zone: Allow the indicator to detect and plot a new high-scoring consolidation zone. Do not trade old or expired zones.
🔔 Set Your Alerts: In TradingView, create a new alert and select the indicator. For the condition, choose "Any alert() function call". This will notify you the moment an M5 candle closes across a stop level.
👀 Wait for the M5 Close: For a Long Buy Trade, wait for an M5 candle to close above the Buy Stop line. For a Short Sell Trade, wait for an M5 candle to close below the Sell Stop line.
✅ Enter on Confirmation: Once you receive the alert and visually confirm the M5 candle has closed past the level, you can enter the trade targeting the dynamic ADR levels.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
syndicate001.com
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Algo systems for prop traders
Algo systems for pro gold traders
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Levels desk Gold FX NQ ES JPN225
telegram.me/aisyndicate001
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.
Script de código aberto
Em verdadeiro espírito do TradingView, o criador deste script o tornou de código aberto, para que os traders possam revisar e verificar sua funcionalidade. Parabéns ao autor! Embora você possa usá-lo gratuitamente, lembre-se de que a republicação do código está sujeita às nossas Regras da Casa.
syndicate001.com
Algo systems for prop traders
Algo systems for pro gold traders
Algo Trading and Indicator Tutorials
Levels desk Gold FX NQ ES JPN225
telegram.me/aisyndicate001
Algo systems for prop traders
Algo systems for pro gold traders
Algo Trading and Indicator Tutorials
Levels desk Gold FX NQ ES JPN225
telegram.me/aisyndicate001
Aviso legal
As informações e publicações não se destinam a ser, e não constituem, conselhos ou recomendações financeiras, de investimento, comerciais ou de outro tipo fornecidos ou endossados pela TradingView. Leia mais nos Termos de Uso.