OPEN-SOURCE SCRIPT
Support & Resistance With Breakout & Retest
Intro
The Breakout Retest Indicator is a valuable tool utilized to confirm the occurrence of a proper breakout so you know when to enter on a retest. It analyses the price movement of an asset and identifies a breakout when the price level surpasses the inputted support and resistance values.
Conditions
The indicator operates based on simple yet reliable conditions. Once a candle closes above or below the specified line, the next candle's closure above or below without touching the high or low levels confirms the breakout. The indicator subsequently changes its color, signaling a long or short position. Upon retesting, it reverts to its original color.
Need Your Help
I am sharing this indicator to solicit your input in improving it. As a committed developer, I have ambitious plans for enhancing the indicator's functionality. To that end, I welcome your suggestions and ideas to build indicators that can contribute to the success of people's strategies.
Future Ideas
Some of the potential improvements that I plan to incorporate include the implementation of zones. Users will be able to define zones that require breaking above or below for a confirmed breakout. Additionally, a volume check will provide additional confirmation by evaluating the volume level relative to the breakout. Lastly, close above or below feature will ensure that a certain number of ticks, percentage, or price level has been breached to confirm the breakout.
The Breakout Retest Indicator is a valuable tool utilized to confirm the occurrence of a proper breakout so you know when to enter on a retest. It analyses the price movement of an asset and identifies a breakout when the price level surpasses the inputted support and resistance values.
Conditions
The indicator operates based on simple yet reliable conditions. Once a candle closes above or below the specified line, the next candle's closure above or below without touching the high or low levels confirms the breakout. The indicator subsequently changes its color, signaling a long or short position. Upon retesting, it reverts to its original color.
Need Your Help
I am sharing this indicator to solicit your input in improving it. As a committed developer, I have ambitious plans for enhancing the indicator's functionality. To that end, I welcome your suggestions and ideas to build indicators that can contribute to the success of people's strategies.
Future Ideas
Some of the potential improvements that I plan to incorporate include the implementation of zones. Users will be able to define zones that require breaking above or below for a confirmed breakout. Additionally, a volume check will provide additional confirmation by evaluating the volume level relative to the breakout. Lastly, close above or below feature will ensure that a certain number of ticks, percentage, or price level has been breached to confirm the breakout.
Open-source Skript
Ganz im Sinne von TradingView hat dieser Autor sein/ihr Script als Open-Source veröffentlicht. Auf diese Weise können nun das Script auch andere Trader verstehen und prüfen. Vielen Dank an den Autor! Sie können das Script kostenlos verwenden. Die Nutzung dieses Codes in einer Veröffentlichung wird in unseren Hausregeln reguliert. Sie können es als Favoriten auswählen, um es in einem Chart zu verwenden.
Möchten Sie dieses Skript auf einem Chart verwenden?
Haftungsausschluss
Die Informationen und Veröffentlichungen sind nicht als Finanz-, Anlage-, Handels- oder andere Arten von Ratschlägen oder Empfehlungen gedacht, die von TradingView bereitgestellt oder gebilligt werden, und stellen diese nicht dar. Lesen Sie mehr in den Nutzungsbedingungen.