Finanja Breakout Labels

📊 Finanja Breakout Labels
🔍 What it does
This script places labels on your chart at important support and resistance levels. When price breaks a Daily, Weekly, or Monthly level, a label appears with relevant information to help you pause and think before entering a trade.

⚙️ How it works (conceptual)

Level detection: The script identifies key support and resistance levels based on Daily, Weekly, and Monthly price structure. These are not moving averages or calculations—they are fixed levels derived from higher timeframe closes.

Breakout labels: When price closes beyond a support or resistance level, a label is printed on the chart.

Label messages:

"Daily Support Broken – Wait for Retest"

"Weekly Resistance Broken – Check OI"

"Monthly Level Test – Wait for Confirmation"

Purpose: These labels do not tell you to buy or sell. They remind you: A level broke. Do not chase. Wait. Check volume/open interest. Look for confirmation.

🎯 How to use it

Control FOMO: The labels act as a visual discipline tool. When you see "Wait for Retest", it interrupts impulsive chasing and reminds you to be patient.

Combine with manual analysis: The script does not tell you if the breakout will succeed. It simply tells you something happened. You must check price action, volume, or OI yourself before acting.

Timeframe selection: You can choose which levels to monitor:

Daily only (for intraday traders)

Weekly only (for swing traders)

Monthly only (for positional traders)

Any combination

⚙️ Input parameters

Show Daily labels – Enable/disable labels for Daily levels. Default: true.

Show Weekly labels – Enable/disable labels for Weekly levels. Default: false.

Show Monthly labels – Enable/disable labels for Monthly levels. Default: false.

Label position – Choose above or below bar.

Cooldown period – Minimum bars between same-level labels. Default: 10.

📌 Limitations & known behavior

This is not a signal generator. It does not predict reversals or continuations.

Labels appear after the close. You will not get real-time alerts during the bar.

Levels are fixed. The script does not repaint or adjust levels intraday.

Not all breakouts lead to moves. A label only tells you price crossed a line—nothing more.

Not intended for non-standard chart types (Heikin Ashi, Renko, Kagi, etc.).

🔓 Source code
This script is published as closed-source (protected) to preserve the originality of its multi-timeframe level detection logic. The description above explains the conceptual framework so users understand what the script does and how to use it effectively.