Breakout indicator

2월 20일

This indicator helps traders identify potential breakout levels based on the highest high and lowest low of the last N candles, inspired by the classic Turtle Trading strategy. The period (N) is fully customizable, allowing you to adapt it to your trading style. For daily charts, a period between 50 and 100 is recommended.

The indicator dynamically plots horizontal lines representing the highest high and lowest low over the selected period. These lines are updated in real-time as price action evolves. A breakout is confirmed when the price closes above the high line (for a bullish breakout) or below the low line (for a bearish breakout).

Customize the appearance of the lines with options for thickness, color, and style (solid, dotted, or dashed) to suit your chart preferences. Perfect for traders looking to implement a simple yet effective breakout strategy!

Key Features:

Editable period (N) for high/low calculation.

Real-time updates of high/low levels.

Customizable line thickness, color, and style.


Usage:

Use on daily charts for swing trading or position trading.

Combine with other indicators or price action analysis for better confirmation.

4월 15일

릴리즈 노트

This indicator helps traders identify potential breakout levels based on the highest high and lowest low of the last N candles, inspired by the classic Turtle Trading strategy. The period (N) is fully customizable, allowing you to adapt it to your trading style. For daily charts, a period between 50 and 100 is recommended.

The indicator dynamically plots horizontal lines representing the highest high and lowest low over the selected period. These lines are updated in real-time as price action evolves. A breakout is confirmed when the price closes above the high line (for a bullish breakout) or below the low line (for a bearish breakout).

Customize the appearance of the lines with options for thickness, color, and style (solid, dotted, or dashed) to suit your chart preferences. Perfect for traders looking to implement a simple yet effective breakout strategy!

Key Features:

Editable period (N) for high/low calculation.

Real-time updates of high/low levels.

Customizable line thickness, color, and style.


Usage:

Use on daily charts for swing trading or position trading.

Combine with other indicators or price action analysis for better confirmation.

Update:
I updated the code so the historical breakouts and trail stops to be visible.
The lines and symbols are now customizable like thickness, color, shape, line, dashed line, dotted line.