OPEN-SOURCE SCRIPT
Breakout Identifier + Pivots with pos/neg/neu candles
Breakout Identifier is an indicator that displays breakouts which can be used to help a trader buy or sell. This is a volatility-based indicator that has customizable inputs. Each signal is also plotted with a pivot which can help to trade within a range or determine a trap.
To edit the gap between each signals change signal integer, goes by price.
BG colors are also assigned to candles as negative, positive, or neutral which are colored as follows:
Green = high > high of previous candle
Red = low < low of previous candle
Silver = neither of these options
To edit the gap between each signals change signal integer, goes by price.
BG colors are also assigned to candles as negative, positive, or neutral which are colored as follows:
Green = high > high of previous candle
Red = low < low of previous candle
Silver = neither of these options
Open-source script
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in publication is governed by House rules. You can favorite it to use it on a chart.
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