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 Once mitigated, the internal volume data is cleared, and the zone becomes a dotted historical reference.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.
Mã nguồn mở
Theo đúng tinh thần TradingView, tác giả của tập lệnh này đã công bố nó dưới dạng mã nguồn mở, để các nhà giao dịch có thể xem xét và xác minh chức năng. Chúc mừng tác giả! Mặc dù bạn có thể sử dụng miễn phí, hãy nhớ rằng việc công bố lại mã phải tuân theo Nội quy.
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.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.
Mã nguồn mở
Theo đúng tinh thần TradingView, tác giả của tập lệnh này đã công bố nó dưới dạng mã nguồn mở, để các nhà giao dịch có thể xem xét và xác minh chức năng. Chúc mừng tác giả! Mặc dù bạn có thể sử dụng miễn phí, hãy nhớ rằng việc công bố lại mã phải tuân theo Nội quy.
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.
Thông báo miễn trừ trách nhiệm
Thông tin và các ấn phẩm này không nhằm mục đích, và không cấu thành, lời khuyên hoặc khuyến nghị về tài chính, đầu tư, giao dịch hay các loại khác do TradingView cung cấp hoặc xác nhận. Đọc thêm tại Điều khoản Sử dụng.