Breakout Master

Dec 23, 2024

//version=5
indicator('Breakout Master', overlay=true)

bullishBar = 1
bearishBar = -1

var inside_bar = array.new_int(0)
var inside_bar_high = array.new_float(0)
var inside_bar_low = array.new_float(0)
var motherCandleIndex = 0
var motherCandleHigh = 0.0
var motherCandleLow = 0.0
var motherCandleRange = 0.0
var target1Buy = 0.0
var target2Buy = 0.0
var target1Sell = 0.0
var target2Sell = 0.0

var motherCandleH = line.new(na, na, na, na, extend=extend.right, color=color.green)
var motherCandleL = line.new(na, na, na, na, extend=extend.right, color=color.red)
var motherCandleHLabel = label.new(na, na, style=label.style_label_left, textcolor=color.green, color=color.new(color.green, 80))
var motherCandleLLabel = label.new(na, na, style=label.style_label_left, textcolor=color.red, color=color.new(color.red, 80))

var longT1 = line.new(na, na, na, na, extend=extend.right)
var longT2 = line.new(na, na, na, na, extend=extend.right)
var shortT1 = line.new(na, na, na, na, extend=extend.right)
var shortT2 = line.new(na, na, na, na, extend=extend.right)

var longT1Label = label.new(na, na, textcolor=color.blue, style=label.style_label_left, color=color.new(color.blue, 80))
var longT2Label = label.new(na, na, textcolor=color.blue, style=label.style_label_left, color=color.new(color.blue, 80))
var shortT1Label = label.new(na, na, textcolor=color.blue, style=label.style_label_left, color=color.new(color.blue, 80))
var shortT2Label = label.new(na, na, textcolor=color.blue, style=label.style_label_left, color=color.new(color.blue, 80))

var longT1Line = input.bool(title='Show Long T1', defval=true, group='Long')
var longT2Line = input.bool(title='Show Long T2', defval=true, group='Long')

var shortT1Line = input.bool(title='Show Short T1', defval=true, group='Short')
var shortT2Line = input.bool(title='Show Short T2', defval=true, group='Short')

var longT1Range = input.float(title='Long T1', defval=1, group='Long (x times above range of mother candle)', tooltip='Line will be plotted above high of mother candle. If value entered is 1, then T1 = range of mother candle x 1')
var longT2Range = input.float(title='Long T2', defval=1.5, group='Long (x times above range of mother candle)', tooltip='Line will be plotted above high of mother candle. If value entered is 2, then T2 = range of mother candle x 2')

var shortT1Range = input.float(title='Short T1', defval=1, group='Short (x times below range of mother candle)', tooltip='Line will be plotted below low of mother candle. If value entered is 1, then T1 = range of mother candle x 1')
var shortT2Range = input.float(title='Short T2', defval=1.5, group='Short (x times below range of mother candle)', tooltip='Line will be plotted below low of mother candle. If value entered is 2, then T2 = range of mother candle x 1')

hi = high
lo = low
op = open
cl = close

isInside() =>
previousBar = 1
bodyStatus = cl >= op ? 1 : -1
isInsidePattern = hi < hi[previousBar] and lo > lo[previousBar]
isInsidePattern ? bodyStatus : 0

newDay = ta.change(time('D'))

if newDay
array.clear(inside_bar)
array.clear(inside_bar_high)
array.clear(inside_bar_low)

if isInside() and array.size(inside_bar) <= 0
array.push(inside_bar, bar_index)
array.push(inside_bar_high, hi[1])
array.push(inside_bar_low, lo[1])

if barstate.islast and array.size(inside_bar) > 0
motherCandleIndex := array.get(inside_bar, 0) - 1
motherCandleHigh := array.get(inside_bar_high, 0)
motherCandleLow := array.get(inside_bar_low, 0)
motherCandleRange := motherCandleHigh - motherCandleLow

target1Buy := motherCandleHigh + longT1Range * motherCandleRange
target2Buy := motherCandleHigh + longT2Range * motherCandleRange

target1Sell := motherCandleLow - shortT1Range * motherCandleRange
target2Sell := motherCandleLow - shortT2Range * motherCandleRange

// mother candle high
line.set_xy1(motherCandleH, motherCandleIndex, motherCandleHigh)
line.set_xy2(motherCandleH, bar_index, motherCandleHigh)
label.set_xy(motherCandleHLabel, bar_index + 5, motherCandleHigh)
label.set_text(id=motherCandleHLabel, text='Range High - ' + str.tostring(motherCandleHigh))

//mother candle low
line.set_xy1(motherCandleL, motherCandleIndex, motherCandleLow)
line.set_xy2(motherCandleL, bar_index, motherCandleLow)
label.set_xy(motherCandleLLabel, bar_index + 5, motherCandleLow)
label.set_text(id=motherCandleLLabel, text='Range Low - ' + str.tostring(motherCandleLow))

//long target 1
if longT1Line
line.set_xy1(longT1, motherCandleIndex, target1Buy)
line.set_xy2(longT1, bar_index, target1Buy)
label.set_xy(longT1Label, bar_index + 5, target1Buy)
label.set_text(id=longT1Label, text='T1 - ' + str.tostring(target1Buy) + ' (' + str.tostring(longT1Range * motherCandleRange) + ') points')

//long target 2
if longT2Line
line.set_xy1(longT2, motherCandleIndex, target2Buy)
line.set_xy2(longT2, bar_index, target2Buy)
label.set_xy(longT2Label, bar_index + 5, target2Buy)
label.set_text(id=longT2Label, text='T2 - ' + str.tostring(target2Buy) + ' (' + str.tostring(longT2Range * motherCandleRange) + ') points')

//short target 1
if shortT1Line
line.set_xy1(shortT1, motherCandleIndex, target1Sell)
line.set_xy2(shortT1, bar_index, target1Sell)
label.set_xy(shortT1Label, bar_index + 5, target1Sell)
label.set_text(id=shortT1Label, text='T1 - ' + str.tostring(target1Sell) + ' (' + str.tostring(shortT1Range * motherCandleRange) + ') points')

//short target 2
if shortT2Line
line.set_xy1(shortT2, motherCandleIndex, target2Sell)
line.set_xy2(shortT2, bar_index, target2Sell)
label.set_xy(shortT2Label, bar_index + 5, target2Sell)
label.set_text(id=shortT2Label, text='T2 - ' + str.tostring(target2Sell) + ' (' + str.tostring(shortT2Range * motherCandleRange) + ') points')

Jan 20

Release Notes

Hi, demo testing

Jan 20

Release Notes

This is a demo testing indicator. Thank you all.