OPEN-SOURCE SCRIPT
Breakout off Consolidation
Breakout detection indicator that identifies high-probability trading opportunities when price breaks out of tight consolidation patterns.
The script combines volume analysis, price action, and momentum to filter out low-quality setups.
The optional performance table tracks breakout outcomes based on MACD crossovers to provide a rough estimate of setup quality for the specific instrument. While past performance doesn't guarantee future results, these setups aim to provide favorable risk/reward opportunities when properly selected.
Key features:
The weekly time-frame typically provides the highest quality setups due to stronger institutional volume patterns and clearer consolidation structures.
This indicator can be used with Pine Script™ Screener to scan for breakout opportunities across your watchlists.
The script combines volume analysis, price action, and momentum to filter out low-quality setups.
The optional performance table tracks breakout outcomes based on MACD crossovers to provide a rough estimate of setup quality for the specific instrument. While past performance doesn't guarantee future results, these setups aim to provide favorable risk/reward opportunities when properly selected.
Key features:
- Smart consolidation detection that differentiates between tight, okay, and loose consolidation patterns
- Volume-based confirmation using multiple metrics including volume multiples and volume spikes
- Special "Golden Candle" breakouts (🥇) highlighting exceptional setups with ideal volume and price characteristics (from deep backtests)
- Risk management features with automatic stop loss placement based on consolidation structure
- Momentum Confirmation
The weekly time-frame typically provides the highest quality setups due to stronger institutional volume patterns and clearer consolidation structures.
This indicator can be used with Pine Script™ Screener to scan for breakout opportunities across your watchlists.
Skrip sumber terbuka
Dalam semangat sebenar TradingView, penulis telah menerbitkan kod Pine ini sebagai sumber terbuka supaya pedagang dapat memahami dan mengesahkannya. Sorakan kepada penulis! Anda boleh menggunakan perpustakaan ini secara percuma, tetapi penggunaan semula kod dalam penerbitan ini adalah dikawal oleh Peraturan dalaman. Anda boleh menyukainya untuk menggunakannya pada carta.
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Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.