Breakout/Breakdown Detector

Breakout/Breakdown Detector - Quick Overview
What it does:
This indicator automatically identifies when price breaks through key support or resistance levels, signaling potential trading opportunities.
Key Features:

📈 Breakout Detection - Alerts when price breaks ABOVE resistance (bullish signal)
📉 Breakdown Detection - Alerts when price breaks BELOW support (bearish signal)
🔊 Volume Confirmation - Optionally requires high volume to confirm the break (filters false signals)
📊 Visual Signals - Shows green triangles (breakout) and red triangles (breakdown) on chart
🎨 Support/Resistance Lines - Automatically draws key levels based on recent price action

Settings You Can Adjust:

Lookback Period (default 20) - How many candles back to find support/resistance
Volume Multiplier (default 1.5x) - How much volume needed to confirm
Breakout Threshold (default 0.5%) - How far price must break through the level

How to Use:

Add to any chart (stocks, crypto, forex, etc.)
Green triangle below bar = BUY signal (breakout)
Red triangle above bar = SELL signal (breakdown)
Set alerts to get notified automatically

Perfect for: Swing traders, breakout traders, and anyone who wants to catch momentum moves early! 🚀