Double Bottom & Breakout Strategy (With Alerts)

trategy helps traders identify potential bullish breakouts based on multiple technical indicators. It detects a double bottom pattern, higher highs & higher lows, and an EMA crossover before confirming a breakout with increasing volume.

📊 Key Components
1️⃣ 📉 Double Bottom Formation

Detects a double bottom pattern by identifying two lows within a set period (10 & 20 bars).
If the second low is slightly higher than the first, it suggests potential accumulation before a breakout.
2️⃣ 📈 Higher High & Higher Low Confirmation

Checks if the current high is greater than the previous highest high (past 2 bars).
Confirms a higher low to ensure price is forming a bullish structure.
3️⃣ 📊 EMA Crossover for Trend Confirmation

Uses 4 Exponential Moving Averages (EMAs):
✅ 200 EMA (Long-term Trend) – Key support/resistance level.
✅ 189 EMA (Support Level) – Close to 200 EMA for additional confirmation.
✅ 20 EMA (Short-term Trend) – Captures early bullish momentum.
✅ 9 EMA (Fastest EMA) – Confirms rapid trend shifts.
A bullish EMA crossover happens when 9 EMA & 20 EMA cross above the 189 EMA, signaling trend strength.
4️⃣ 📊 Breakout with Rising Volume

Confirms breakout only if the price breaks above the highest high of the last 5 bars.
Volume must be 1.5x greater than the 20-bar moving average of volume (sma(volume, 20) * 1.5).
This ensures strong buyer participation.
5️⃣ 🔔 Buy Signal + Alerts

If all conditions are met, a BUY signal is plotted on the chart.
Sound alert triggered using alertcondition() so traders receive notifications.