Breaking Bar [5ema]

Apr 27, 2023

I reused some functions, made by (i believe that):
LeviathanCapital: Market Sessions.
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How to use?
More suitable for Scalping

1. Plan A: Break out the highest bar

• Find the bar with the largest range (high – low) and high volume of the previous N bars.
  
• When the price close breaks down to highest bar, give a SELL signal.
  
• When the price close breaks up the highest, give a BUY signal.
  

https://www.tradingview.com/x/VAYmCDGO/

2. Plan B: Break out the bar opened market

• The price close breaks through the open bar, give a Buy and Sell signal.
  
• Market sessions: Tokyo, London, Sydney, New York.
  

https://www.tradingview.com/x/gE9UnxT3/

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How to set up?

• Choose the plan.
  
• Lookback bar to find highest bar.
  
• Right bar: What position of signal will appear from the open market bar (or high bar).
  
• Number break: The maximum bars have price close breaked before giving signal.
  
• Session time: The open and close of market.
  

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This indicator is for reference only, you need your own method and strategy.
If you have any questions, please let me know in the comments.

Apr 27, 2023

Release Notes

Update Time Zone of season for New York and Sydney.
Thanks