OPEN-SOURCE SCRIPT
Box Breakout
An indicator that involves "breaking boxes" could refer to a box breakout strategy, often used to identify price consolidations and subsequent breakouts. Here's how it works:
Box Breakout Indicator
What is it? A box breakout strategy involves identifying a range-bound price movement (a consolidation phase) that forms a "box" on the chart. The price moves within a defined high and low range for a period of time, creating the top and bottom edges of the box.
Box Breakout Indicator
What is it? A box breakout strategy involves identifying a range-bound price movement (a consolidation phase) that forms a "box" on the chart. The price moves within a defined high and low range for a period of time, creating the top and bottom edges of the box.
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.
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