OPEN-SOURCE SCRIPT
SmartBreak Fibo [TraderHook]
SmartBreak Fibo [TraderHook]
Stop drawing your setups by hand. SmartBreak watches market structure in real time, and the moment price breaks a structural swing — a BOS (Break of Structure) or CHoCH (Change of Character) — it instantly maps a full Fibonacci trade plan on your chart: entry, stop, and three targets. No manual fib dragging, no guesswork on where to place levels.
How it works
Why traders like it
Settings
Credits
The market-structure engine (ZigZag, swing classification, BOS/CHoCH) is based on the open-source work of TFlab, used under the Mozilla Public License 2.0. The Fibonacci trade-box system is by TraderHook. Published open-source — feel free to study and build on it.
Disclaimer
This is a visualization tool, not financial advice or a signal service. The take-profit levels are mechanical Fibonacci extensions — they do not predict that price will reach any target. Always backtest and manage your own risk before trading.
Stop drawing your setups by hand. SmartBreak watches market structure in real time, and the moment price breaks a structural swing — a BOS (Break of Structure) or CHoCH (Change of Character) — it instantly maps a full Fibonacci trade plan on your chart: entry, stop, and three targets. No manual fib dragging, no guesswork on where to place levels.
How it works
- The engine tracks swing highs/lows and detects every structural break (BOS / CHoCH).
- On each break, a Fibonacci is anchored from the broken swing (level 1) to the opposing swing (level 0).
- Entry is plotted at the 0.618 retracement, Stop-Loss at level 0 (the swing extreme).
- Three take-profits sit at fib extensions 2.0 / 2.618 / 3.618.
- A green box shows the profit zone (entry → TP3), a red box shows the risk zone (entry → SL).
Why traders like it
- Setups appear the instant structure breaks — you decide whether to take them, the levels are already there.
- Long breaks are marked green, short breaks red — direction is readable at a glance.
- Fully adjustable: entry level, all three TPs, pivot sensitivity, colors, and how many recent setups stay on screen.
- "ChoCh only" mode if you prefer to trade reversals over trend continuations.
Settings
- Pivot Period — structure sensitivity (higher = bigger swings only).
- Entry / TP1 / TP2 / TP3 — every fib level is yours to tune.
- Number of recent setups — keep the chart clean with just the latest, or show history.
- Long / Short setups — toggle either side on or off.
Credits
The market-structure engine (ZigZag, swing classification, BOS/CHoCH) is based on the open-source work of TFlab, used under the Mozilla Public License 2.0. The Fibonacci trade-box system is by TraderHook. Published open-source — feel free to study and build on it.
Disclaimer
This is a visualization tool, not financial advice or a signal service. The take-profit levels are mechanical Fibonacci extensions — they do not predict that price will reach any target. Always backtest and manage your own risk before trading.
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.
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.
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.