Momentum Swing

Description:
This indicator detects structural breakouts triggered by a single engulfing candle that decisively breaks out of a range formed by previous candles.

📦 Key Features:

Detects breakouts from a lateral range defined by N previous candles

Identifies only clean breakouts using a single engulfing candle (optional: body-only breakout)

Visually highlights the broken range with a rectangle

Displays directional arrows when a breakout occurs (long or short)

Fully customizable settings

🛠 Custom Inputs:

Number of candles used to define the range

Option to require the breakout to occur with the candle’s body only

Option to show or hide the breakout rectangle

📈 Perfect for traders looking to identify strong breakouts after consolidation phases.