OPEN-SOURCE SCRIPT
Inside Bar Breakout/Fakeout with AI Scenarios [Yosiet]
Inside Bar Breakout/Fakeout Indicator with Scenarios
The Indicator is a powerful tool for traders looking to identify potential breakout and fakeout opportunities based on inside bar patterns. This indicator combines multiple technical analysis concepts to provide a comprehensive view of market behavior, helping traders make more informed decisions.
Key Features
How It Works
The indicator identifies inside bars and filters them based on a maximum number of consecutive inside bars. It then detects breakouts and fakeouts using user-defined parameters. The script also calculates moving averages to determine trend direction.
Three specific scenarios are detected:
These scenarios are visually represented on the chart, allowing traders to quickly identify potential trading opportunities.
How to Use
The Indicator is a powerful tool for traders looking to identify potential breakout and fakeout opportunities based on inside bar patterns. This indicator combines multiple technical analysis concepts to provide a comprehensive view of market behavior, helping traders make more informed decisions.
Key Features
- Inside bar detection with filtering
- Breakout and fakeout identification
- Three distinct scenario detections
- Customizable moving average calculations
- Flexible visualization options
- Alert conditions for various events
How It Works
The indicator identifies inside bars and filters them based on a maximum number of consecutive inside bars. It then detects breakouts and fakeouts using user-defined parameters. The script also calculates moving averages to determine trend direction.
Three specific scenarios are detected:
- Strong breakout followed by a strong reversal
- Weak breakout with multiple doji/weak candles
- Strong breakout without reversal
These scenarios are visually represented on the chart, allowing traders to quickly identify potential trading opportunities.
How to Use
- Apply the indicator to your chart
- Adjust the input parameters to suit your trading style
- Look for inside bar patterns and subsequent breakouts/fakeouts
- Pay attention to the three scenario markers for additional context
- Use the alert conditions to stay informed of potential opportunities
Skrip sumber terbuka
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Penafian
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