Enhanced Volume Analysis & Breakout System

Here's a Concise and Compact SOP for the Simple Volume & Breakout System with S/R Zones indicator:

1. Preparation
Install the Indicator:
Copy the script into TradingView’s Pine Script Editor → Add to Chart.
Set Parameters:
Enable show_volume for volume analysis.
Enable show_sr_zones for support/resistance zones.
Adjust volume_threshold, atr_length, and target_length as needed.

2. Volume Analysis
Buy/Sell Volume:
Bullish Trend: buy_volume > sell_volume.
Bearish Trend: sell_volume > buy_volume.
Volume Pressure:
Helps confirm trend direction and target price.

3. Identify S/R Zones
Resistance (R1):
Red line → Potential sell area.
Support (S1):
Green line → Potential buy area.

4. Breakout Signals
Bullish Signal:
Green arrow/"Strong Bull Signal".
RSI > 70 & dominant buy volume.
Bearish Signal:
Red arrow/"Strong Bear Signal".
RSI < 30 & dominant sell volume.

5. Trendline & Price Target
Trendline:
Green = bullish; Red = bearish.
Connects current price to the target price.
Price Target:
Label at the trendline end (e.g., "1.2500 (+2.5%)").

6. Entry Points
Buy:
Near S1 with a bullish signal and dominant buy volume.
Sell:
Near R1 with a bearish signal and dominant sell volume.

7. Take Profit & Stop Loss
Take Profit:
Follow the indicator’s price target.
Stop Loss:
For Buy: Below S1.
For Sell: Above R1.

8. Risk Management
Limit risk to 1-2% of capital per trade.
Avoid overtrading; stick to the trading plan.
Stay disciplined; avoid emotional decisions.

9. Example Scenarios
Scenario 1: Buy

Price near S1, dominant buy volume, bullish signal → Buy.
Target: Price target label.
Stop loss: Below S1.
Scenario 2: Sell

Price near R1, dominant sell volume, bearish signal → Sell.
Target: Price target label.
Stop loss: Above R1.
10. Evaluation
Review: Record all trades for analysis.
Adjust: Tweak parameters for better accuracy.

This SOP simplifies usage of the indicator for effective trading decisions. Let me know if you'd like any refinements! 🚀