Faytterro Bands Breakout

📌 Faytterro Bands Breakout 📌
This indicator was created as a strategy showcase for another script: Faytterro Bands
https://tr.tradingview.com/script/yXYS7vNg-Faytterro-Bands/


It’s meant to demonstrate a simple breakout strategy based on Faytterro Bands logic and includes performance tracking.

❓ What Is It?
This script is a visual breakout strategy based on a custom moving average and dynamic deviation bands, similar in concept to Bollinger Bands but with unique smoothing (centered regression) and performance features.

🔍 What Does It Do?
Detects breakouts above or below the Faytterro Band.

Plots visual trade entries and exits.

Labels each trade with percentage return.

Draws profit/loss lines for every trade.

Shows cumulative performance (compounded return).

Displays key metrics in the top-right corner:

Total Return

Win Rate

Total Trades

Number of Wins / Losses

🛠 How Does It Work?
Bullish Breakout: When price crosses above the upper band and stays above the midline.

Bearish Breakout: When price crosses below the lower band and stays below the midline.

Each trade is held until breakout invalidation, not a fixed TP/SL.

Trades are compounded, i.e., profits stack up realistically over time.

📈 Best Use Cases:
For traders who want to experiment with breakout strategies.

For visual learners who want to study past breakouts with performance metrics.

As a template to develop your own logic on top of Faytterro Bands.

⚠ Notes:
This is a strategy-like visual indicator, not an automated backtest.

It doesn't use strategy.* commands, so you can still use alerts and visuals.

You can tweak the logic to create your own backtest-ready strategy.

Unlike the original Faytterro Bands, this script does not repaint and is fully stable on closed candles.