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WSY Breakout Indicator
The WSY Breakout Indicator identifies expansion candles where effort and result align, inspired by the Wyckoff principle that strong price movement should be confirmed by strong volume.
The goal of this indicator is to highlight candles that have the potential to start momentum moves or breakouts, while filtering out weak candles that lack conviction.
Instead of relying purely on price structure, this tool focuses on three key factors:
Volume Expansion (Effort)
Range Expansion (Result)
Candle Quality (Where the candle closes)
When these conditions align, the indicator places a dot on the chart.
Signal Types
Bullish Breakout (Green Dot)
A bullish signal appears when:
Current volume is greater than the defined percentage of the average volume
Candle range is larger than the ATR threshold
The candle closes in the upper portion of its range
The candle forms a Higher High and Higher Low compared to the previous candle
This combination suggests strong buying pressure and expanding momentum.
Bearish Breakdown (Red Dot)
A bearish signal appears when:
Current volume exceeds the volume threshold
Candle range exceeds the ATR threshold
The candle closes in the lower portion of its range
The candle forms a Lower High and Lower Low compared to the previous candle
This suggests strong selling pressure and downward momentum.
Indicator Inputs
The indicator is highly customizable:
Volume Settings
Volume Average Period
Volume Threshold (% of average)
Range Settings
ATR Period
Option to compare candle range to ATR or ATR as a percentage of price
Candle Quality
Adjustable close position filter for bullish candles
Adjustable close position filter for bearish candles
Signal Controls
Show Bulls
Show Bears
Show Both
How to Use
The WSY Breakout Indicator is designed to help traders quickly identify momentum candles worth investigating, not to act as a standalone trading system.
Typical uses include:
Spotting potential breakout candles
Identifying momentum continuation
Highlighting high conviction moves
Filtering out candles that have volume but poor price follow-through
Traders should combine these signals with their own analysis such as:
Support and resistance
Market structure
Trend direction
Higher timeframe context
Concept
In Wyckoff terms:
Effort = Volume
Result = Price Movement
When both expand together and the candle closes with strength, it often signals that institutional activity may be present in the move.
The WSY Breakout Indicator highlights these moments so traders can focus on the candles that matter.
The goal of this indicator is to highlight candles that have the potential to start momentum moves or breakouts, while filtering out weak candles that lack conviction.
Instead of relying purely on price structure, this tool focuses on three key factors:
Volume Expansion (Effort)
Range Expansion (Result)
Candle Quality (Where the candle closes)
When these conditions align, the indicator places a dot on the chart.
Signal Types
Bullish Breakout (Green Dot)
A bullish signal appears when:
Current volume is greater than the defined percentage of the average volume
Candle range is larger than the ATR threshold
The candle closes in the upper portion of its range
The candle forms a Higher High and Higher Low compared to the previous candle
This combination suggests strong buying pressure and expanding momentum.
Bearish Breakdown (Red Dot)
A bearish signal appears when:
Current volume exceeds the volume threshold
Candle range exceeds the ATR threshold
The candle closes in the lower portion of its range
The candle forms a Lower High and Lower Low compared to the previous candle
This suggests strong selling pressure and downward momentum.
Indicator Inputs
The indicator is highly customizable:
Volume Settings
Volume Average Period
Volume Threshold (% of average)
Range Settings
ATR Period
Option to compare candle range to ATR or ATR as a percentage of price
Candle Quality
Adjustable close position filter for bullish candles
Adjustable close position filter for bearish candles
Signal Controls
Show Bulls
Show Bears
Show Both
How to Use
The WSY Breakout Indicator is designed to help traders quickly identify momentum candles worth investigating, not to act as a standalone trading system.
Typical uses include:
Spotting potential breakout candles
Identifying momentum continuation
Highlighting high conviction moves
Filtering out candles that have volume but poor price follow-through
Traders should combine these signals with their own analysis such as:
Support and resistance
Market structure
Trend direction
Higher timeframe context
Concept
In Wyckoff terms:
Effort = Volume
Result = Price Movement
When both expand together and the candle closes with strength, it often signals that institutional activity may be present in the move.
The WSY Breakout Indicator highlights these moments so traders can focus on the candles that matter.
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Difficult Takes a day, Impossible Takes a Week!
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これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。
オープンソーススクリプト
TradingViewの精神に則り、このスクリプトの作者はコードをオープンソースとして公開してくれました。トレーダーが内容を確認・検証できるようにという配慮です。作者に拍手を送りましょう！無料で利用できますが、コードの再公開はハウスルールに従う必要があります。
Difficult Takes a day, Impossible Takes a Week!
免責事項
これらの情報および投稿は、TradingViewが提供または承認する金融、投資、取引、またはその他の種類の助言もしくは推奨であることを意図したものではなく、またこれらに該当するものでもありません。詳細は利用規約をご覧ください。