OPEN-SOURCE SCRIPT
Uptrend+High Vol+RSI+MACD Safest Bull Breakout_ImtiazH
A breakout indicator that identifies bullish entry signals by aligning multiple technical indicators like EMA, SMA, RSI, Volume, and MACD. Fully customizable and reliable for identifying safe and high-probability trades.
This indicator is designed to detect bullish breakout signals by combining several key technical indicators. It ensures a high probability of successful trades by requiring multiple conditions to align. The script is highly configurable to suit different trading styles and preferences.
NOTE: the indicator will only appear, if the price is above 200 period EMA.
### Indicators Used:
1. **Exponential Moving Averages (EMA):**
- The price must be above the 200 EMA (a strong bullish signal).
- A crossover of the 21 EMA above the 50 EMA confirms a short-term bullish trend.
2. **Simple Moving Average (SMA):**
- 9-period SMA crossing above the 21 EMA provides additional confirmation.
3. **Volume Surge:**
- The volume must be significantly higher than its recent average (customizable with a multiplier).
4. **Relative Strength Index (RSI):**
- RSI must fall within a configurable range (default: between 40 and 50 or higher for strong momentum).
5. **MACD Crossover:**
- The MACD line crossing above the signal line indicates bullish momentum.
### Key Features:
- **Safe & Reliable:** Requires mandatory conditions (price above 200 EMA + volume surge) and allows users to define the number of additional conditions (RSI, EMA/SMA crossovers, or MACD crossover).
- **Highly Customizable:** All parameters (e.g., EMA/SMA lengths, RSI levels, volume lookback) are fully adjustable.
- **Visual Signals:** Generates a green triangle for the breakout signal, optimized for visibility in both light and dark modes.
- **Debugging Option:** View the status of individual conditions via the style settings.
- **Alerts:** Get notified whenever a breakout signal is triggered.
This indicator is a valuable tool for traders seeking confidence in their breakout strategies.
This indicator is designed to detect bullish breakout signals by combining several key technical indicators. It ensures a high probability of successful trades by requiring multiple conditions to align. The script is highly configurable to suit different trading styles and preferences.
NOTE: the indicator will only appear, if the price is above 200 period EMA.
### Indicators Used:
1. **Exponential Moving Averages (EMA):**
- The price must be above the 200 EMA (a strong bullish signal).
- A crossover of the 21 EMA above the 50 EMA confirms a short-term bullish trend.
2. **Simple Moving Average (SMA):**
- 9-period SMA crossing above the 21 EMA provides additional confirmation.
3. **Volume Surge:**
- The volume must be significantly higher than its recent average (customizable with a multiplier).
4. **Relative Strength Index (RSI):**
- RSI must fall within a configurable range (default: between 40 and 50 or higher for strong momentum).
5. **MACD Crossover:**
- The MACD line crossing above the signal line indicates bullish momentum.
### Key Features:
- **Safe & Reliable:** Requires mandatory conditions (price above 200 EMA + volume surge) and allows users to define the number of additional conditions (RSI, EMA/SMA crossovers, or MACD crossover).
- **Highly Customizable:** All parameters (e.g., EMA/SMA lengths, RSI levels, volume lookback) are fully adjustable.
- **Visual Signals:** Generates a green triangle for the breakout signal, optimized for visibility in both light and dark modes.
- **Debugging Option:** View the status of individual conditions via the style settings.
- **Alerts:** Get notified whenever a breakout signal is triggered.
This indicator is a valuable tool for traders seeking confidence in their breakout strategies.
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.
Want to use this script on a chart?
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.