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.
סקריפט קוד פתוח
ברוח TradingView אמיתית, מחבר הסקריפט הזה פרסם אותו בקוד פתוח, כך שסוחרים יוכלו להבין ולאמת אותו. כל הכבוד למחבר! אתה יכול להשתמש בו בחינם, אבל השימוש החוזר בקוד זה בפרסום כפוף לכללי הבית. אתה יכול להכניס אותו למועדפים כדי להשתמש בו בגרף.
רוצה להשתמש בסקריפ זה בגרף?
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.