OPEN-SOURCE SCRIPT
Updated SilverHawk Trendline Breakouts
SilverHawk Trendline Breakouts
This indicator automatically draws trendlines from recent pivot highs and lows, projecting them forward to identify potential breakouts.
Features:
• Dynamic trendline zones based on pivot points (wicks or body option)
• Breakout signals when price crosses the projected line
• Volatility-adjusted target (TP) lines
• Built-in alerts for bullish/bearish breakouts, TP hits, and SL hits
Settings:
• Period: lookback length for pivot detection (default 10)
• Type: Wicks or Body for pivot calculation
• Extend: projection length in bars (25, 50, or 75)
• Show Targets: toggle TP lines on/off
Best suited for H1 to H4 timeframes on Forex pairs or indices for trend continuation setups. Use with proper risk management and confirmation.
Educational tool only. Not financial advice. Trading involves risk.
This indicator automatically draws trendlines from recent pivot highs and lows, projecting them forward to identify potential breakouts.
Features:
• Dynamic trendline zones based on pivot points (wicks or body option)
• Breakout signals when price crosses the projected line
• Volatility-adjusted target (TP) lines
• Built-in alerts for bullish/bearish breakouts, TP hits, and SL hits
Settings:
• Period: lookback length for pivot detection (default 10)
• Type: Wicks or Body for pivot calculation
• Extend: projection length in bars (25, 50, or 75)
• Show Targets: toggle TP lines on/off
Best suited for H1 to H4 timeframes on Forex pairs or indices for trend continuation setups. Use with proper risk management and confirmation.
Educational tool only. Not financial advice. Trading involves risk.
Release Notes
This indicator draws trendlines from recent pivot highs/lows and projects them forward to detect breakouts.Features:
- Dynamic trendline zones (bullish/bearish/neutral bands)
- Breakout signals (triangle arrows) when price crosses the line
- Volatility-adjusted target (TP) and stop loss (SL) lines
- Configurable risk:reward ratio (default 1:2)
- Alerts for breakouts, TP hits, SL hits
Settings:
- Period: lookback for pivot detection (default 10)
- Type: Wicks or Body for pivots
- Extend: projection length (25, 50, 75 bars)
- Show Targets: toggle TP/SL lines
- Risk:Reward Ratio: 1:1, 1:2 (default), or 1:3
Best used on H1–H4 timeframes in Forex for trend continuation setups. Combine with risk management and confirmation.
Educational tool only. Not financial advice. Trading involves risk.
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.
SilverHawk Suite
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.
SilverHawk Suite
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.