OPEN-SOURCE SCRIPT
Updated // Tradeaverse \ False Breakout Zones Indicator
Similar to the false breakout indicator this spots false break outs using 2 stochastic rsi's. This one is a chart overlay showing you the exact candles the false break out happens on.
Release Notes
Did some edits to the signals :)Release Notes
Added ATR Bands. When we pop out of them expect a major retrace of the current movement out of the bands.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.
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.
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.