Trendline Breakouts With Targets [ChartPrime]

ChartPrime 已更新   
The Trendline Breakouts With Targets indicator is meticulously crafted to improve trading decision-making by pinpointing trendline breakouts and breakdowns through pivot point analysis.

Here's a comprehensive look at its primary functionalities:

Upon the occurrence of a breakout or breakdown, a signal is meticulously assessed against a false signal condition/filter, after which the indicator promptly generates a trading signal. Additionally, it conducts precise calculations to determine potential target levels and then exhibits them graphically on the price chart.

🔷Key Features:

🔸Trendline Drawing: The indicator automatically plots trendlines based on significant pivot points and wick data, visually representing the prevailing trend.

🔸Breakout and Breakdown Signals : It triggers trading signals when a breakout (price moves above the trendline) or a breakdown (price moves below the trendline) is detected, helping traders identify potential entry points.

🔸False Breakout/ Breakdown Filter ✔️: To enhance accuracy, the indicator incorporates a filter to reduce false breakout and breakdown signals, helping traders avoid premature entries.

🔸Target Calculation: The indicator performs target-level calculations, a critical aspect of trade management.
These calculated target levels are visually displayed on the price chart, helping traders set precise profit targets and make well-informed trading decisions.

🔸Color-Change Labels: The indicator features label color changes to provide quick visual cues. Labels are initially displayed in orange. When a take profit (TP) level is reached, the label changes to green, indicating a successful trade. Conversely, if a stop-loss (SL) level is hit, the label turns red, signaling a losing trade.

🔸Settings :

This indicator combines technical analysis, trendline identification, breakout/breakdown signals, and risk management tools to assist traders in making more informed and efficient trading decisions. It can be a valuable addition to any trader's toolkit, helping them identify potential trade opportunities and manage risk effectively.
Update chart


本着真正的TradingView精神,该脚本的作者将其开源发布,以便交易者可以理解和验证它。为作者喝彩!您可以免费使用它,但在出版物中重复使用此代码受网站规则的约束。 您可以收藏它以在图表上使用。