OPEN-SOURCE SCRIPT
Luminance Breakout Engine [LuxAlgo]
The Luminance Breakout Engine [LuxAlgo] indicator is a high-performance momentum oscillator designed to identify institutional breakout zones and trend transitions through multi-timeframe analysis and adaptive volatility thresholds.
🔶 USAGE
The indicator functions as a comprehensive momentum "engine," mapping price velocity across four different timeframes into a single composite oscillator. It identifies high-probability breakout zones by monitoring when this composite momentum breaches adaptive volatility bands.
🔹 Luminance Glow Zones
When the oscillator enters the "Glow" zones (beyond the dotted thresholds), it indicates an extreme momentum breakout. These zones are often the precursor to sustained trends or significant institutional expansions. The oscillator changes color to a neon glow to highlight these high-intensity moves.
🔹 Institutional Order Blocks
At the exact moment a "Glow" breakout is triggered, the engine identifies the origin candle of that move and plots a Luminance Order Block (OB) on the price chart. These blocks represent areas where institutional liquidity was likely deployed to start the move.
🔹 Volume Breakdown Stats
Each Order Block features a unique "Volume Split" dashboard on the right edge. This provides a percentage-based breakdown of Bullish vs. Bearish volume during the five bars leading up to the breakout, helping traders understand the quality of the move's participation.
🔶 DETAILS
The script utilizes a weighted Composite Rate of Change (ROC) calculation across four periods (Fast, Medium, Slow, and Macro). This ensures that the oscillator only reaches extreme "Glow" levels when momentum is synchronized across multiple time-horizons.
The thresholds are not static; they use a standard deviation of the oscillator's own history to create an adaptive "envelope." This allows the indicator to remain sensitive during low-volatility periods while filtering out noise during highly volatile market conditions.
The Order Blocks remain active on the chart until "mitigated" (when a candle closes through the zone). Once mitigated, the internal volume data is cleared, and the zone becomes a dotted historical reference.
🔶 SETTINGS
🔹 Oscillator Settings
🔹 Visual Settings
🔹 Order Blocks
🔹 Color Settings
🔶 USAGE
The indicator functions as a comprehensive momentum "engine," mapping price velocity across four different timeframes into a single composite oscillator. It identifies high-probability breakout zones by monitoring when this composite momentum breaches adaptive volatility bands.
🔹 Luminance Glow Zones
When the oscillator enters the "Glow" zones (beyond the dotted thresholds), it indicates an extreme momentum breakout. These zones are often the precursor to sustained trends or significant institutional expansions. The oscillator changes color to a neon glow to highlight these high-intensity moves.
🔹 Institutional Order Blocks
At the exact moment a "Glow" breakout is triggered, the engine identifies the origin candle of that move and plots a Luminance Order Block (OB) on the price chart. These blocks represent areas where institutional liquidity was likely deployed to start the move.
🔹 Volume Breakdown Stats
Each Order Block features a unique "Volume Split" dashboard on the right edge. This provides a percentage-based breakdown of Bullish vs. Bearish volume during the five bars leading up to the breakout, helping traders understand the quality of the move's participation.
🔶 DETAILS
The script utilizes a weighted Composite Rate of Change (ROC) calculation across four periods (Fast, Medium, Slow, and Macro). This ensures that the oscillator only reaches extreme "Glow" levels when momentum is synchronized across multiple time-horizons.
The thresholds are not static; they use a standard deviation of the oscillator's own history to create an adaptive "envelope." This allows the indicator to remain sensitive during low-volatility periods while filtering out noise during highly volatile market conditions.
The Order Blocks remain active on the chart until "mitigated" (when a candle closes through the zone). Once mitigated, the internal volume data is cleared, and the zone becomes a dotted historical reference.
🔶 SETTINGS
🔹 Oscillator Settings
- Fast/Medium/Slow/Macro Period: The lookback periods used for the multi-timeframe composite ROC calculation.
- Smoothing: The EMA length applied to the final oscillator to reduce noise.
🔹 Visual Settings
- Threshold Multiplier: Controls the sensitivity of the breakout "Glow" zones. Higher values require more extreme momentum to trigger.
- Show Base Heatmap: Toggles the gradient fill between the zero line and the signal.
- Show Threshold Glow: Toggles the neon fills that appear during volatility breakouts.
🔹 Order Blocks
- Show Luminance OBs: Enables the plotting of institutional zones on the price chart.
- Max OBs per Side: Limits the number of active/historical zones to keep the chart clean.
- Show Volume Stats: Toggles the B:XX% ┃ S:YY% volume breakdown labels.
- Label Offset: Shifts the statistics labels to the right to prevent overlap with price action.
- Label Size: Adjusts the text size of the volume statistics (Tiny, Small, Normal, Large).
🔹 Color Settings
- Momentum Colors: Sets the primary colors for bullish and bearish trends.
- Glow Colors: Sets the high-intensity colors used during breakout phases.
- Zero Line Color: Customizes the appearance of the central equilibrium line.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
Build your own edge with AI: luxalgo.com
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
오픈 소스 스크립트
트레이딩뷰의 진정한 정신에 따라, 이 스크립트의 작성자는 이를 오픈소스로 공개하여 트레이더들이 기능을 검토하고 검증할 수 있도록 했습니다. 작성자에게 찬사를 보냅니다! 이 코드는 무료로 사용할 수 있지만, 코드를 재게시하는 경우 하우스 룰이 적용된다는 점을 기억하세요.
Build your own edge with AI: luxalgo.com
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
All content provided by LuxAlgo is for informational & educational purposes only. Past performance does not guarantee future results.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.