OPEN-SOURCE SCRIPT
Support & Resistance With Breakout & Retest
Intro
The Breakout Retest Indicator is a valuable tool utilized to confirm the occurrence of a proper breakout so you know when to enter on a retest. It analyses the price movement of an asset and identifies a breakout when the price level surpasses the inputted support and resistance values.
Conditions
The indicator operates based on simple yet reliable conditions. Once a candle closes above or below the specified line, the next candle's closure above or below without touching the high or low levels confirms the breakout. The indicator subsequently changes its color, signaling a long or short position. Upon retesting, it reverts to its original color.
Need Your Help
I am sharing this indicator to solicit your input in improving it. As a committed developer, I have ambitious plans for enhancing the indicator's functionality. To that end, I welcome your suggestions and ideas to build indicators that can contribute to the success of people's strategies.
Future Ideas
Some of the potential improvements that I plan to incorporate include the implementation of zones. Users will be able to define zones that require breaking above or below for a confirmed breakout. Additionally, a volume check will provide additional confirmation by evaluating the volume level relative to the breakout. Lastly, close above or below feature will ensure that a certain number of ticks, percentage, or price level has been breached to confirm the breakout.
The Breakout Retest Indicator is a valuable tool utilized to confirm the occurrence of a proper breakout so you know when to enter on a retest. It analyses the price movement of an asset and identifies a breakout when the price level surpasses the inputted support and resistance values.
Conditions
The indicator operates based on simple yet reliable conditions. Once a candle closes above or below the specified line, the next candle's closure above or below without touching the high or low levels confirms the breakout. The indicator subsequently changes its color, signaling a long or short position. Upon retesting, it reverts to its original color.
Need Your Help
I am sharing this indicator to solicit your input in improving it. As a committed developer, I have ambitious plans for enhancing the indicator's functionality. To that end, I welcome your suggestions and ideas to build indicators that can contribute to the success of people's strategies.
Future Ideas
Some of the potential improvements that I plan to incorporate include the implementation of zones. Users will be able to define zones that require breaking above or below for a confirmed breakout. Additionally, a volume check will provide additional confirmation by evaluating the volume level relative to the breakout. Lastly, close above or below feature will ensure that a certain number of ticks, percentage, or price level has been breached to confirm the breakout.
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。
开源脚本
本着TradingView的真正精神，此脚本的创建者将其开源，以便交易者可以查看和验证其功能。向作者致敬！虽然您可以免费使用它，但请记住，重新发布代码必须遵守我们的网站规则。
免责声明
这些信息和出版物并不意味着也不构成TradingView提供或认可的金融、投资、交易或其它类型的建议或背书。请在使用条款阅读更多信息。