OPEN-SOURCE SCRIPT
Expansion Setup: Entries & structure + Alerts
This is a specific market condition often called a Broadening Formation or an Expansion Move, where volatility increases enough to break both the previous structural low and then immediately break the previous structural high (or vice versa).
1. LL to HH: A New Lower Low is formed, followed immediately by a New Higher High.
2. HH to LL: A New Higher High is formed, followed immediately by a New Lower Low.
3. Entry Levels: When a setup is detected (LL ➔ HH or HH ➔ LL), the script now draws two specific entry lines extending forward:
The "Breaker" Level: The previous structure point that was broken. (Often a safe retest entry).
The 50% Retracement: The midpoint of the expansion move (The "Equilibrium" or "Discount" entry).
1. LL to HH: A New Lower Low is formed, followed immediately by a New Higher High.
2. HH to LL: A New Higher High is formed, followed immediately by a New Lower Low.
3. Entry Levels: When a setup is detected (LL ➔ HH or HH ➔ LL), the script now draws two specific entry lines extending forward:
The "Breaker" Level: The previous structure point that was broken. (Often a safe retest entry).
The 50% Retracement: The midpoint of the expansion move (The "Equilibrium" or "Discount" entry).
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