Breakout Finder

2021년 6월 9일

Helo All,

I got many requests for a Breakout script and here it's. This script searches the breakouts/breakdowns and draw square if there is one.

The options:
"Period" is used to find Pivot Points
"Max Breakout Length" is the maximum length to search breakouts
"Threshold Rate %" is channel width of the breakout area. calculated using highest/lowest of last 300 bars.
"Minimum Number of Tests" is the minimum number of tests that the Price tried to break the S/R level
and some options for coloring and linestyle

Lets see some examples:

in this example "Minimum Number of Tests" is 2 so the Price must have tested to break resistance area 2 times and then it breaks it as seen in the screenshot:


in following example Threshold rate is %10, so the channel width is very big:


as you can see in followinf screenshot you can choose different colors and line styles:


Alerts added ;)


Enjoy!

2021년 6월 25일

릴리즈 노트

Fixed.

2021년 8월 7일

릴리즈 노트

Explanation added

2021년 10월 4일

릴리즈 노트

updated