OPEN-SOURCE SCRIPT
BBB London Breakout
BBB London Breakout
BBB London Breakout is a session-based breakout indicator built around the Asian session range and the London session breakout concept. The purpose of the script is to help traders identify confirmed price breakouts after the Asian range has been formed, while filtering out weak breakout candles using body-strength conditions.
How the indicator works
The script first calculates the Asian session high and low during the selected session hours. These two levels form the Asian range. Once the Asian session is completed, the range is drawn on the chart using a visual box, with optional high and low extension lines.
After the selected signal start time begins, the indicator waits for a confirmed candle close outside the Asian range.
A buy signal is generated when price closes above the Asian session high.
A sell signal is generated when price closes below the Asian session low.
Signals are confirmed only after candle close to avoid repainting during the active candle.
Breakout filtering logic
The script includes a strong-break filter designed to reduce weak or low-quality breakouts. Instead of marking every small move outside the range, the indicator evaluates the breakout candle using two body-strength conditions:
The candle body size compared to the full candle range.
The candle body size compared to the Asian session range.
This helps the script focus on candles that show stronger breakout intent, instead of candles that only slightly cross the Asian high or low.
There is also an optional ATR body filter. When enabled, the breakout candle body must be greater than or equal to a selected ATR-based threshold. This can help filter signals during low-volatility conditions.
Risk management levels
After a confirmed buy or sell signal, the script automatically plots the entry level, stop-loss level, and take-profit level.
The stop-loss can be calculated using different methods, including Asian range, Asian edge, ATR mode, percentage of price, or fixed points.
The take-profit level is calculated from the actual stop-loss distance using the selected multiplier. This allows the plotted risk and reward levels to stay connected to the real distance between the entry and stop-loss.
Alerts
The script includes alert conditions for buy signals, sell signals, and any signal. Dynamic alert messages can include the symbol, entry price, stop-loss, take-profit, Asian range size, and signal time.
Recommended use
This indicator is designed mainly for US30, US100, and US500 / S&P 500.
The recommended timeframe is 15 minutes.
Wait for candle close confirmation before considering any signal.
Always review spread, volatility, session conditions, major news events, and overall market structure before using any signal.
Main features
Asian session high and low range calculation
Visual Asian range box
London breakout logic after the selected signal start time
Strong breakout candle body filter
Optional ATR body filter
Automatic Entry, Stop-loss, and Take-profit plotting
Buy, Sell, and Any signal alerts
Chart notes box with recommended symbols and timeframe
Important note
This script is intended for educational and analytical purposes only. It does not guarantee profitable trades and should not be considered financial advice. Traders should use their own risk management and additional analysis before making any trading decision.
BBB London Breakout is a session-based breakout indicator built around the Asian session range and the London session breakout concept. The purpose of the script is to help traders identify confirmed price breakouts after the Asian range has been formed, while filtering out weak breakout candles using body-strength conditions.
How the indicator works
The script first calculates the Asian session high and low during the selected session hours. These two levels form the Asian range. Once the Asian session is completed, the range is drawn on the chart using a visual box, with optional high and low extension lines.
After the selected signal start time begins, the indicator waits for a confirmed candle close outside the Asian range.
A buy signal is generated when price closes above the Asian session high.
A sell signal is generated when price closes below the Asian session low.
Signals are confirmed only after candle close to avoid repainting during the active candle.
Breakout filtering logic
The script includes a strong-break filter designed to reduce weak or low-quality breakouts. Instead of marking every small move outside the range, the indicator evaluates the breakout candle using two body-strength conditions:
The candle body size compared to the full candle range.
The candle body size compared to the Asian session range.
This helps the script focus on candles that show stronger breakout intent, instead of candles that only slightly cross the Asian high or low.
There is also an optional ATR body filter. When enabled, the breakout candle body must be greater than or equal to a selected ATR-based threshold. This can help filter signals during low-volatility conditions.
Risk management levels
After a confirmed buy or sell signal, the script automatically plots the entry level, stop-loss level, and take-profit level.
The stop-loss can be calculated using different methods, including Asian range, Asian edge, ATR mode, percentage of price, or fixed points.
The take-profit level is calculated from the actual stop-loss distance using the selected multiplier. This allows the plotted risk and reward levels to stay connected to the real distance between the entry and stop-loss.
Alerts
The script includes alert conditions for buy signals, sell signals, and any signal. Dynamic alert messages can include the symbol, entry price, stop-loss, take-profit, Asian range size, and signal time.
Recommended use
This indicator is designed mainly for US30, US100, and US500 / S&P 500.
The recommended timeframe is 15 minutes.
Wait for candle close confirmation before considering any signal.
Always review spread, volatility, session conditions, major news events, and overall market structure before using any signal.
Main features
Asian session high and low range calculation
Visual Asian range box
London breakout logic after the selected signal start time
Strong breakout candle body filter
Optional ATR body filter
Automatic Entry, Stop-loss, and Take-profit plotting
Buy, Sell, and Any signal alerts
Chart notes box with recommended symbols and timeframe
Important note
This script is intended for educational and analytical purposes only. It does not guarantee profitable trades and should not be considered financial advice. Traders should use their own risk management and additional analysis before making any trading decision.
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免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。
免责声明
这些信息和出版物并非旨在提供，也不构成TradingView提供或认可的任何形式的财务、投资、交易或其他类型的建议或推荐。请阅读使用条款了解更多信息。