OPEN-SOURCE SCRIPT
Level Breakout & Consolidation
1. Daily Levels: It uses request.security to extract 1D (Daily) pivot highs and lows without repainting. You can adjust the pivot length in the settings to control how significant a swing must be to become a tracked level.
2. Compression Tracking: Right as the breakout occurs, the script looks back on the current timeframe (e.g., the 5-minute chart) to check if the last N bars formed higher lows (for a resistance breakout) or lower highs (for a support breakout).
3. Consolidation: Once the price closes past the daily level, the script starts counting the bars. It waits for the specified Consolidation Bars (e.g., 3 bars) to ensure the price sustains the breakout and doesn't immediately pull back. If the lowest close over those 3 bars remains above the breakout level, it triggers the buy arrow.
4. False Breakouts: I've also built in a hidden cross shape condition for false breakouts (wicks that poke through but close back within). You can turn on the visibility for this inside the indicator settings under "Style" if you'd like to spot them.
You can customize the number of compression bars and consolidation bars via the indicator inputs.
2. Compression Tracking: Right as the breakout occurs, the script looks back on the current timeframe (e.g., the 5-minute chart) to check if the last N bars formed higher lows (for a resistance breakout) or lower highs (for a support breakout).
3. Consolidation: Once the price closes past the daily level, the script starts counting the bars. It waits for the specified Consolidation Bars (e.g., 3 bars) to ensure the price sustains the breakout and doesn't immediately pull back. If the lowest close over those 3 bars remains above the breakout level, it triggers the buy arrow.
4. False Breakouts: I've also built in a hidden cross shape condition for false breakouts (wicks that poke through but close back within). You can turn on the visibility for this inside the indicator settings under "Style" if you'd like to spot them.
You can customize the number of compression bars and consolidation bars via the indicator inputs.
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.