Daily Pivot Breakout Strategy Indicator

Tagline:
A pivot-based breakout system that identifies confirmed daily breakouts with momentum and volume filters, with precise entry timing across all timeframes.
How It Works:
This indicator detects strict pivot high breakouts on daily data, filtered by Rate of Change (ROC ≥30%) and Relative Volume (RVOL >1). It displays both the breakout confirmation signal and the next-day entry signal directly on your chart, regardless of timeframe.
Visual Signals:

Orange Pivot Line: The most recent confirmed pivot high (within 250-day lookback)
Day-0 Label (Teal): Appears on the breakout confirmation day (when price closes above daily pivot with filters met)
Entry Banner (Green): Appears on the next trading day at market open - your actual entry point

Cross-Timeframe Consistency:

Daily Chart: View the big picture - Day-0 on breakout bar, Entry on next bar
Any Timeframe: Logic remains consistent to daily pivots and data, signals adapt to show at the correct time

Built-in Alert Conditions:

5PivotBreakout_Scan (Day-0): Fires when breakout is confirmed. Use this for after-hours scanning to build watchlists of confirmed breakouts
5PivotBreakout_Strategy (Next): Fires at market open the next day. Use this to automate entries on confirmed breakouts

Typical Workflow:

Set up Day-0 alerts on your watchlist to catch breakouts as they happen
Review confirmed breakouts each evening
Set up Entry alerts on selected tickers to automate next-day execution (fires at market open)
Optional: Convert to strategy() for backtesting with custom exits (20% trail is good)

Key Features:

Strict pivot detection: No ties allowed - center must be highest point
Momentum filter: 100-day ROC ensures trending strength
Volume confirmation: 20-day RVOL validates participation
No repainting: Uses lookahead_off for realistic, tradeable signals

Customizable Inputs:

Pivot strength parameters (left/right bars)
Pivot lookback period
ROC period and minimum threshold
RVOL period
Toggle visibility of pivot line and labels

Note: This indicator is for educational purposes only and does not constitute financial advice. Past performance does not guarantee future results. Always test thoroughly before live trading.

Note di rilascio

Release Notes:
- Updated the name of the script

Note di rilascio

11/13/25 Updates:
- Added modifiable trailing stop % levels based on entries
- Set alerts on these to be notified when a trailing stop loss is hit, or automate orders via webhook

Note di rilascio

11/14/25 Updates:
- Fixed trail stop dots bug

Note di rilascio

11/14/25 Update 2:
- Added 15 trailing stop levels

Note di rilascio

12/5/25 Updates:
- Made the trail stop dots avoid repainting
- Entry bar trail stop uses the previous days close to avoid repainting

Note di rilascio

1/30/2026 Update:
- Updated code so there is only a single trailing stop line for simplicity

Note di rilascio

Update 2/20/26
- Changed label to say breakout instead of entry

Note di rilascio

2/25/2026 Updates:
Added a new EMA Slope % momentum filter.
The indicator now flashes a breakout when either a 100-period ROC>30
OR
When the 100-period EMA slope % > 20
These are both customizable as well.

Note di rilascio

2/25/26 Update 2
Candles are now colored based on the combined state of two daily momentum filters: Price ROC and EMA Slope %. Each day's color is calculated from confirmed daily bar data and applied to all intraday bars, so the coloring is consistent across all timeframes with no repainting.
Color Key:
🟢 Green (#16C172) — Both bullish: Price ROC is above the minimum threshold AND EMA Slope % is above the minimum threshold. Strongest momentum confirmation.
🔴 Red (#FF3B30) — Both bearish: Price ROC is below the negative threshold AND EMA Slope % is below the negative threshold. Strongest downside momentum.
🟣 Purple (#AF52DE) — Mixed signal: One filter is bullish while the other is bearish. Conflicting momentum, proceed with caution.
🔵 Cyan (#00BCFF) — One bullish: Either Price ROC or EMA Slope % is bullish, but not both. Mild upside momentum.
🟠 Orange (#FF9F0A) — One bearish: Either Price ROC or EMA Slope % is bearish, but not both. Mild downside pressure.
⚫ Gray (#8E8E93) — Neutral: Neither filter is registering a bullish or bearish reading. No directional momentum.
Candle coloring can be toggled on or off via the "Enable Momentum Candle Colors" checkbox in the indicator settings. All thresholds are fully adjustable through the existing ROC, EMA Length, Slope Lookback, Smooth Length, and Minimum EMA Slope inputs.

Script open-source

Nello spirito di TradingView, l'autore di questo script lo ha reso open source, in modo che i trader possano esaminarne e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricordiamo che la ripubblicazione del codice è soggetta al nostro Regolamento.

mtoney5

Free trading journal and indicators at financialtechwiz.com/?utm_source=tradingview&utm_medium=profile

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Script open-source

mtoney5

Free trading journal and indicators at financialtechwiz.com/?utm_source=tradingview&utm_medium=profile

Anche su: