OPEN-SOURCE SCRIPT
BreakStar - Ashish
BreakStar — Breakout & Morning/Evening Star Signal Filter
Two entry triggers, one unified label:
🟡 BUY (Breakout) — close above the N-bar highest close (close-based Donchian, not high/low — avoids wick-poisoning the channel) on above-average volume.
🟡 BUY (Morning Star) / 🔵 SELL (Evening Star) — classic 3-candle reversal: long directional candle → small star candle → confirmation candle closing ≥50% back into the first candle's body. The 50% penetration threshold is kept strict — it's the core of Bulkowski's documented 78%/71% historical reliability for these patterns.
Exit logic — ATR-tiered trailing stop:
Initial buffer → Chandelier trail (2.5×ATR) → Breakeven lock at 3×ATR profit → Tight trail at prior candle's low at 5×ATR profit. If an opposing reversal pattern fires while in profit, position closes immediately rather than waiting for the trail to catch up.
How to use it:
BreakStar is a first-pass filter, not a mechanical auto-trading system. Apply it to a pre-screened watchlist via Pine Screener. The resulting shortlist — typically 2-10 names per day — then goes through your own judgment layer.
That human layer is where the real edge lives, not in trading every signal blindly.
What it is not:
Not a trend-following MA system. Not a mean-reversion band tool. Blind continuous backtesting produces mediocre results on any single name — as it does for virtually any signal-based filter run without judgment or market-regime context.
Two entry triggers, one unified label:
🟡 BUY (Breakout) — close above the N-bar highest close (close-based Donchian, not high/low — avoids wick-poisoning the channel) on above-average volume.
🟡 BUY (Morning Star) / 🔵 SELL (Evening Star) — classic 3-candle reversal: long directional candle → small star candle → confirmation candle closing ≥50% back into the first candle's body. The 50% penetration threshold is kept strict — it's the core of Bulkowski's documented 78%/71% historical reliability for these patterns.
Exit logic — ATR-tiered trailing stop:
Initial buffer → Chandelier trail (2.5×ATR) → Breakeven lock at 3×ATR profit → Tight trail at prior candle's low at 5×ATR profit. If an opposing reversal pattern fires while in profit, position closes immediately rather than waiting for the trail to catch up.
How to use it:
BreakStar is a first-pass filter, not a mechanical auto-trading system. Apply it to a pre-screened watchlist via Pine Screener. The resulting shortlist — typically 2-10 names per day — then goes through your own judgment layer.
That human layer is where the real edge lives, not in trading every signal blindly.
What it is not:
Not a trend-following MA system. Not a mean-reversion band tool. Blind continuous backtesting produces mediocre results on any single name — as it does for virtually any signal-based filter run without judgment or market-regime context.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.
Skrip sumber terbuka
Dalam semangat TradingView sebenar, pencipta skrip ini telah menjadikannya sumber terbuka, jadi pedagang boleh menilai dan mengesahkan kefungsiannya. Terima kasih kepada penulis! Walaupuan anda boleh menggunakan secara percuma, ingat bahawa penerbitan semula kod ini tertakluk kepada Peraturan Dalaman.
Penafian
Maklumat dan penerbitan adalah tidak bertujuan, dan tidak membentuk, nasihat atau cadangan kewangan, pelaburan, dagangan atau jenis lain yang diberikan atau disahkan oleh TradingView. Baca lebih dalam Terma Penggunaan.