OPEN-SOURCE SCRIPT
SFP- Milana Trades (with Alert )
The Swing Failure Pattern (SFP) is a pattern based on false breakouts of local highs or lows. It is used to search for entry points against the direction of the current price movement.
How does SFP work?
The price breaks through the previous high or low (creating the appearance of continuing the trend).
It is not fixed to the level and quickly returns back, leaving a" trap " for traders.
A trend reversal or local correction is an ideal entry point for traders who use a false breakout strategy.
I adedd to this indicator alert and you can get notification when this model formed
How does SFP work?
The price breaks through the previous high or low (creating the appearance of continuing the trend).
It is not fixed to the level and quickly returns back, leaving a" trap " for traders.
A trend reversal or local correction is an ideal entry point for traders who use a false breakout strategy.
I adedd to this indicator alert and you can get notification when this model formed
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.