OPEN-SOURCE SCRIPT
15m-REMA Breakout [XAU + XAG] – Mus
Description
This indicator is designed to capture high-conviction breakout opportunities on gold (XAUUSD) and silver (XAGUSD) using a zero-lag Recursive EMA (REMA) as the trend backbone, combined with volatility and body-strength filters.
It is tuned for the 15-minute timeframe, where metals often show sharp moves after consolidation.
How it works
Signals
Inputs / Customisation
Best Practice
Alerts
Built-in alert conditions let you set automated notifications for bullish or bearish breakouts at bar close.
Disclaimer
This script is for educational purposes only. It does not constitute financial advice. Always test on demo before applying to live trading.
This indicator is designed to capture high-conviction breakout opportunities on gold (XAUUSD) and silver (XAGUSD) using a zero-lag Recursive EMA (REMA) as the trend backbone, combined with volatility and body-strength filters.
It is tuned for the 15-minute timeframe, where metals often show sharp moves after consolidation.
How it works
- Zero-Lag REMA → Smooth but responsive trend detection.
- ATR-based Breakout Filter → Confirms that price clears recent highs/lows with volatility support.
- Body Size & Buffer Rules → Blocks weak candles and fake breaks near range levels.
- Trend Filter (optional) → Only allows signals in the dominant REMA slope direction.
- De-duplication Logic → Avoids repeated signals on consecutive bars.
Signals
- Green ▲ (Bull Breakout): Candle breaks above recent range with strength.
- Red ▼ (Bear Breakout): Candle breaks below recent range with strength.
- Optional Pivots: Micro pivot highs/lows for additional context.
- REMA Line: Plotted in teal (uptrend) or orange (downtrend).
Inputs / Customisation
- REMA period & sensitivity.
- ATR lookback and multiplier.
- Minimum candle body (%).
- Buffer multiplier to reduce noise.
- Trend filter on/off.
- Toggle arrows & pivot markers.
Best Practice
- Apply on XAUUSD / XAGUSD, 15-minute charts.
- Use as a confirmation tool, not a standalone entry system.
- Combine with higher-timeframe bias or your own risk management.
Alerts
Built-in alert conditions let you set automated notifications for bullish or bearish breakouts at bar close.
Disclaimer
This script is for educational purposes only. It does not constitute financial advice. Always test on demo before applying to live trading.
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.