OPEN-SOURCE SCRIPT
Breakout Point Highlighting
//version=6
indicator("Breakout Point Highlighting", overlay=true)
// Input: Lookback period for finding breakout points
lookbackPeriod = input.int(20, title="Lookback Period", minval=1)
// Calculate the highest high and lowest low over the lookback period
highestHigh = ta.highest(high, lookbackPeriod)
lowestLow = ta.lowest(low, lookbackPeriod)
// Breakout conditions: price breaks above the highest high or below the lowest low
breakoutUp = close > highestHigh
breakoutDown = close < lowestLow
// Plot the breakout points
plotshape(breakoutUp, color=color.green, style=shape.triangleup, location=location.belowbar, title="Breakout Up", size=size.small)
plotshape(breakoutDown, color=color.red, style=shape.triangledown, location=location.abovebar, title="Breakout Down", size=size.small)
// Highlight the breakout zones
bgcolor(breakoutUp ? color.new(color.green, 90) : na, title="Breakout Up Highlight")
bgcolor(breakoutDown ? color.new(color.red, 90) : na, title="Breakout Down Highlight")
// Alert conditions
alertcondition(breakoutUp, title="Breakout Up Alert", message="Price has broken above the highest high.")
alertcondition(breakoutDown, title="Breakout Down Alert", message="Price has broken below the lowest low.")
indicator("Breakout Point Highlighting", overlay=true)
// Input: Lookback period for finding breakout points
lookbackPeriod = input.int(20, title="Lookback Period", minval=1)
// Calculate the highest high and lowest low over the lookback period
highestHigh = ta.highest(high, lookbackPeriod)
lowestLow = ta.lowest(low, lookbackPeriod)
// Breakout conditions: price breaks above the highest high or below the lowest low
breakoutUp = close > highestHigh
breakoutDown = close < lowestLow
// Plot the breakout points
plotshape(breakoutUp, color=color.green, style=shape.triangleup, location=location.belowbar, title="Breakout Up", size=size.small)
plotshape(breakoutDown, color=color.red, style=shape.triangledown, location=location.abovebar, title="Breakout Down", size=size.small)
// Highlight the breakout zones
bgcolor(breakoutUp ? color.new(color.green, 90) : na, title="Breakout Up Highlight")
bgcolor(breakoutDown ? color.new(color.red, 90) : na, title="Breakout Down Highlight")
// Alert conditions
alertcondition(breakoutUp, title="Breakout Up Alert", message="Price has broken above the highest high.")
alertcondition(breakoutDown, title="Breakout Down Alert", message="Price has broken below the lowest low.")
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.
For quick access on a chart, add this script to your favorites — learn more here.
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.