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Smart Money Breakout Channels [AlgoAlpha]

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🟠OVERVIEW
This script draws breakout detection zones called “Smart Money Breakout Channels” based on volatility-normalized price movement and visualizes them as dynamic boxes with volume overlays. It identifies temporary accumulation or distribution ranges using a custom normalized volatility metric and tracks when price breaks out of those zones—either upward or downward. Each channel represents a structured range where smart money may be active, helping traders anticipate key breakouts with added context from volume delta, up/down volume, and a visual gradient gauge for momentum bias.

🟠CONCEPTS
The script calculates normalized price volatility by measuring the standard deviation of price mapped to a [0,1] scale using the highest and lowest prices over a set lookback period. When normalized volatility reaches a local low and flips upward, a boxed channel is drawn between the highest and lowest prices in that zone. These boxes persist until price breaks out, either with a strong candle close (configurable) or by touching the boundary. Volume analysis enhances interpretation by rendering delta bars inside the box, showing volume distribution during the channel. Additionally, a real-time visual “gauge” shows where volume delta sits within the channel range, helping users spot pressure imbalances.

🟠FEATURES
  1. Automatic detection and drawing of breakout channels based on volatility-normalized price pivots.
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  2. Optional nested channels to allow multiple simultaneous zones or a clean single-zone view.
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  3. Gradient-filled volume gauge with dynamic pointer to show current delta pressure within the box.
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  4. Three volume visualization modes: raw volume, comparative up/down volume, and delta.
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  5. Alerts for new channel creation and confirmed bullish or bearish breakouts.
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🟠USAGE
Apply the indicator to any chart. Wait for a new breakout box to form—this occurs when volatility behavior shifts and a stable range emerges. Once a box appears, monitor price relative to its boundaries. A breakout above suggests bullish continuation, below suggests bearish continuation; signals are stronger when “Strong Closes Only” is enabled.
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Watch the internal volume candles to understand where buy/sell pressure is concentrated during the box. Use the gauge on the right to interpret whether net pressure is building upward or downward before breakout to anticipate the direction.
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Use alerts to catch breakout events without needing to monitor the chart constantly 🚨.
Nota Keluaran
Added volume data on channels (right top/bottom corner)
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Nota Keluaran
- Added an input to control volume analysis text size

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.