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INVITE-ONLY SCRIPT
Updated

BREAKOUT DETECTOR

2 248
This is the first version of the Breakout Detector script I am working on. Purple ticks indicate a potential breakout. As you can see on this section of the Bitcoin chart, it pinpointed the exact breakout on many instances, even the notorious Bart Simpson pattern was caught, literally one candle before the break-up of the pattern. This indicator does NOT repaint, its just very solid mathematics. Ongoing project. Not open publishing yet, but will allow testers on an ad hoc basis.
Release Notes
More complete version and some minor refinements. Breakout detections are formed when the blue signal line deviates from its moving average; the higher the deviation the greater the chance of a breakout. Purple highlights help to detect breakout regions.

Feel free to make your own readings from the indicator as even I am discovering all it can do. This is uncharted territory.

IMPORTANT: Threshold highlight settings must be tweaked for every asset to give better results.
Release Notes
Minor update to code
Release Notes
Update with alert function, just have "Breakout" selected and it will alert you whenever a breakout region (purple) is formed.

Invite-only script

Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact pumpandtrump directly.

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Author's instructions

Warning: please read our guide for invite-only scripts before requesting access.
pumpandtrump
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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.
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Invite-only script

Only users approved by the author can access this script. You'll need to request and get permission to use it. This is typically granted after payment. For more details, follow the author's instructions below or contact pumpandtrump directly.

TradingView does NOT recommend paying for or using a script unless you fully trust its author and understand how it works. You may also find free, open-source alternatives in our community scripts.

Author's instructions

Warning: please read our guide for invite-only scripts before requesting access.
pumpandtrump

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.