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 open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
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
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit TradingView, le créateur de ce script l'a rendu open source afin que les traders puissent examiner et vérifier ses fonctionnalités. Bravo à l'auteur! Bien que vous puissiez l'utiliser gratuitement, n'oubliez pas que la republication du code est soumise à nos Règles.
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
Clause de non-responsabilité
Les informations et publications ne sont pas destinées à être, et ne constituent pas, des conseils ou recommandations financiers, d'investissement, de trading ou autres fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.