Step Range Breakout & Trailing Stop [BigBeluga]

Step Range Breakout & Trailing Stop [BigBeluga] is an indicator that detects quiet consolidation zones, catches clean breakouts, and manages open trades automatically with a dynamic ATR trailing stop. It solves the problem of false signals in sideways markets by highlighting only stable, confirmed ranges, then switching to a trailing stop mode once price breaks out.

The system runs on an automated state machine that moves through three phases — Searching, Zone Active, and Trailing:

1 — Range & Consolidation Detection

• Structure Lookback: Calculates the highest high and lowest low over the Structure Length to define structural boundaries.
• Consolidation Check: Confirms a valid zone when the range average stays unchanged over Consolidation Bars / Length bars, then draws a gradient box and center line.
  
• Range Label: Displays the range size in Price, Ticks, or Both, based on the Range Display Format setting.
  

2 — Breakout & Trailing Stop Engine

• Breakout Triggers: Fires bullish when price closes above the range top, and bearish when price closes below the range bottom.
• Dynamic Trailing Stop: Activates an ATR-based trailing stop using Trailing Stop ATR Length and Trailing Stop Multiplier, with a fill channel that follows price to lock in gains.
• Trade Exit: Closes the trade when price crosses the trailing stop and resets the state machine back to Searching.
  

3 — Performance Dashboard

• Win Rate Tracking: Records the last Win Rate Lookback Trades closed trades and displays live metrics including last breakout direction, closed trade count, and win rate percentage.
  

Beyond mapping breakout zones, the indicator can be applied in several ways:

1. Spot Sideways Markets: Let the script highlight consolidation ranges automatically and show the exact range size in price or ticks.
2. Trade Breakouts Safely: Wait for a candle to close outside the range box, then enter in the direction of the breakout.
3. Manage Risk with Trailing Stops: Use the colored trailing stop line and fill channel to manage open trades and protect profits.
4. Review Performance Live: Check the dashboard for win rate and last breakout info without leaving the chart.
5. Tune Sensitivity: Adjust the ATR multiplier for tighter or looser trailing stops depending on market volatility.

Why this implementation is unique:

• Combines automatic range box generation with an ATR-based trailing stop and gradient fill channel visuals.
• Uses an ATR reference line instead of the midpoint for cleaner, more accurate trailing stop fills.
• Includes a built-in performance dashboard that calculates win rate dynamically in real time.
• Fully customizable colors, display formats, and ATR settings to match any market or timeframe.