OPEN-SOURCE SCRIPT
Price and Volume Breakout - Jemmy Trade
The "Price and Volume Breakout" indicator is designed to identify potential breakout opportunities by analyzing both price and volume trends. It uses a combination of historical price highs, volume peaks, and a customizable Simple Moving Average (SMA) to signal bullish breakouts. When the price exceeds the highest price of the defined breakout period and is supported by high volume, the indicator triggers visual alerts on the chart. These include dotted lines, labels, and boxes highlighting accumulation zones, along with dynamically calculated stop loss and take profit levels.
Key Features:
• Breakout Detection: Compares the current closing price to the highest price and volume over specified periods to signal a breakout.
• Customizable Stop Loss Options: Offers three methods for setting stop loss levels:
o Below SMA: Positions stop loss a user-defined percentage below the SMA.
o Lowest Low: Uses the lowest low over a specific look-back period.
o Range Average: Calculates an average based on the previous price range.
• Dynamic Take Profit Calculation: Automatically computes take profit levels based on the defined risk-to-reward ratio.
• Visual Chart Elements: Draws breakout lines, stop loss and take profit indicators, labels (e.g., "🚀 Breakout Buy", "🔴 Stop Loss", "🟢 Take Profit"), and boxes marking accumulation zones for easy visualization.
• Alert Conditions: Includes alert functionality to notify traders when breakout conditions are met, enabling timely trading decisions.
How to Use:
1. Customization: Adjust settings such as the breakout periods for price and volume, the length of the SMA, stop loss options, and the risk-to-reward ratio to fit your trading strategy.
2. Signal Identification: When the price exceeds the highest value from the previous period, accompanied by high volume and confirmation from the SMA, the indicator displays a "Breakout Buy" signal.
3. Risk Management: The indicator calculates appropriate stop loss and take profit levels automatically based on your selected parameters, ensuring a balanced risk/reward setup.
4. Alerts: Utilize the built-in alert conditions to receive notifications whenever the breakout criteria are satisfied, helping you act promptly.
PLEASE USE IT AS PER YOUR OWN RISK MANAGEMENT STRATEGIES.
Keywords:
#Breakout #Trading #VolumeAnalysis #TechnicalAnalysis #PriceAction #RiskManagement #TrendFollowing #TradingSignals #PriceBreakout #SmartTrading #JemmyTrade
Key Features:
• Breakout Detection: Compares the current closing price to the highest price and volume over specified periods to signal a breakout.
• Customizable Stop Loss Options: Offers three methods for setting stop loss levels:
o Below SMA: Positions stop loss a user-defined percentage below the SMA.
o Lowest Low: Uses the lowest low over a specific look-back period.
o Range Average: Calculates an average based on the previous price range.
• Dynamic Take Profit Calculation: Automatically computes take profit levels based on the defined risk-to-reward ratio.
• Visual Chart Elements: Draws breakout lines, stop loss and take profit indicators, labels (e.g., "🚀 Breakout Buy", "🔴 Stop Loss", "🟢 Take Profit"), and boxes marking accumulation zones for easy visualization.
• Alert Conditions: Includes alert functionality to notify traders when breakout conditions are met, enabling timely trading decisions.
How to Use:
1. Customization: Adjust settings such as the breakout periods for price and volume, the length of the SMA, stop loss options, and the risk-to-reward ratio to fit your trading strategy.
2. Signal Identification: When the price exceeds the highest value from the previous period, accompanied by high volume and confirmation from the SMA, the indicator displays a "Breakout Buy" signal.
3. Risk Management: The indicator calculates appropriate stop loss and take profit levels automatically based on your selected parameters, ensuring a balanced risk/reward setup.
4. Alerts: Utilize the built-in alert conditions to receive notifications whenever the breakout criteria are satisfied, helping you act promptly.
PLEASE USE IT AS PER YOUR OWN RISK MANAGEMENT STRATEGIES.
Keywords:
#Breakout #Trading #VolumeAnalysis #TechnicalAnalysis #PriceAction #RiskManagement #TrendFollowing #TradingSignals #PriceBreakout #SmartTrading #JemmyTrade
Скрипт с открытым кодом
В истинном духе TradingView, создатель этого скрипта сделал его открытым исходным кодом, чтобы трейдеры могли проверить и убедиться в его функциональности. Браво автору! Вы можете использовать его бесплатно, но помните, что перепубликация кода подчиняется нашим Правилам поведения.
JemmyTrade_Nabil
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.
Скрипт с открытым кодом
В истинном духе TradingView, создатель этого скрипта сделал его открытым исходным кодом, чтобы трейдеры могли проверить и убедиться в его функциональности. Браво автору! Вы можете использовать его бесплатно, но помните, что перепубликация кода подчиняется нашим Правилам поведения.
JemmyTrade_Nabil
Отказ от ответственности
Информация и публикации не предназначены для предоставления и не являются финансовыми, инвестиционными, торговыми или другими видами советов или рекомендаций, предоставленных или одобренных TradingView. Подробнее читайте в Условиях использования.