OPEN-SOURCE SCRIPT
Pre-Breakout Scanner (Volume + Compression)
Volume Buildup: Rising Volume trend over several bars (Accumulation) even before prices moves - often the earliest tell
Price compression: Bollinger Band Squeeze (Band Narrowing = Volatility coiling)
Breakout trigger: Price closes outside a recent range with volume confirmation
Entry/Stop/Target : ATR-Based, plotted automatically when a signal fires
Price compression: Bollinger Band Squeeze (Band Narrowing = Volatility coiling)
Breakout trigger: Price closes outside a recent range with volume confirmation
Entry/Stop/Target : ATR-Based, plotted automatically when a signal fires
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.