PROTECTED SOURCE SCRIPT
Updated MZ.ARM | Breakouts And Retests
This is a powerful visual tool designed to help traders effortlessly spot ⏩ continuation zones and ⏪ pullbacks on the chart. It automatically identifies key Support 🛡️ and Resistance ⛔ levels, applying a set of sequential conditions to confirm a genuine breakout 🚀 followed by a meaningful retest 🔁.
⚙️ How It Works
Instead of searching for a perfect retest zone 🎯, it focuses on dynamic price fluctuations 📉📈 around these levels to maximize detection of viable retests and breakouts. This flexible approach boosts actionable signals without sacrificing reliability ✔️.
The indicator marks potential retests ⏳ in real-time, continuously updating 🔄 and removing ❌ temporary labels as price action evolves. When a potential retest is active, and the next candle drops below the detected level 📉, it confirms the retest by placing a clear marker 📍 on the chart.
⚙️ How It Works
Instead of searching for a perfect retest zone 🎯, it focuses on dynamic price fluctuations 📉📈 around these levels to maximize detection of viable retests and breakouts. This flexible approach boosts actionable signals without sacrificing reliability ✔️.
The indicator marks potential retests ⏳ in real-time, continuously updating 🔄 and removing ❌ temporary labels as price action evolves. When a potential retest is active, and the next candle drops below the detected level 📉, it confirms the retest by placing a clear marker 📍 on the chart.
Release Notes
🛠️⚙️ Tweaked bars since breakouts to 10.Release Notes
🛠️🔧🔄 Tweaked bars since breakouts to 5 again.Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – 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.
Protected script
This script is published as closed-source. However, you can use it freely and without any limitations – 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.