My script

//version=5
strategy("Advanced Breakout + EMA Trend Strategy [Leverage Ready]", overlay=true, default_qty_type=strategy.percent_of_equity, default_qty_value=10)

// === INPUTS === //
fastEMA_len = input.int(9, title="Fast EMA")
slowEMA_len = input.int(21, title="Slow EMA")
atrLen = input.int(14, title="ATR Length")
atr_mult_sl = input.float(1.5, title="ATR Stop Loss Multiplier")
atr_mult_tp = input.float(3.0, title="ATR Take Profit Multiplier")
consolidationBars = input.int(20, title="Consolidation Lookback")
volumeSpikeMult = input.float(1.8, title="Volume Spike Multiplier")
leverage = input.int(10, title="Leverage", minval=1)

// === CALCULATIONS === //
fastEMA = ta.ema(close, fastEMA_len)
slowEMA = ta.ema(close, slowEMA_len)
atr = ta.atr(atrLen)
rangeHigh = ta.highest(high, consolidationBars)
rangeLow = ta.lowest(low, consolidationBars)
volumeAvg = ta.sma(volume, consolidationBars)

// === MARKET CONDITIONS === //
isTrendingUp = fastEMA > slowEMA
isTrendingDown = fastEMA < slowEMA
isConsolidating = (rangeHigh - rangeLow) / close < 0.02
isBreakoutUp = close > rangeHigh and volume > volumeAvg * volumeSpikeMult
isBreakoutDown = close < rangeLow and volume > volumeAvg * volumeSpikeMult

// === ENTRY CONDITIONS === //
enterLong = isConsolidating and isBreakoutUp and isTrendingUp
enterShort = isConsolidating and isBreakoutDown and isTrendingDown

// === EXIT PRICES === //
longSL = close - atr * atr_mult_sl
longTP = close + atr * atr_mult_tp
shortSL = close + atr * atr_mult_sl
shortTP = close - atr * atr_mult_tp

// === ENTRY/EXIT EXECUTION === //
if (enterLong)
strategy.entry("Long", strategy.long, comment="Long Entry")
strategy.exit("TP/SL Long", from_entry="Long", stop=longSL, limit=longTP)

if (enterShort)
strategy.entry("Short", strategy.short, comment="Short Entry")
strategy.exit("TP/SL Short", from_entry="Short", stop=shortSL, limit=shortTP)

// === CHART PLOTTING === //
plot(fastEMA, color=color.green, title="Fast EMA")
plot(slowEMA, color=color.red, title="Slow EMA")
plotshape(enterLong, title="Long Entry", location=location.belowbar, color=color.green, style=shape.labelup, text="BUY")
plotshape(enterShort, title="Short Entry", location=location.abovebar, color=color.red, style=shape.labeldown, text="SELL")

// === ALERT MESSAGES === //
alertcondition(enterLong, title="Long Signal", message="Long Entry Signal: BUY at {{close}} | Leverage: " + str.tostring(leverage))
alertcondition(enterShort, title="Short Signal", message="Short Entry Signal: SELL at {{close}} | Leverage: " + str.tostring(leverage))

Open-source script

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

michfisher068

Disclaimer

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Open-source script

michfisher068