OPEN-SOURCE SCRIPT
Crypto Breakout Indicator
Hey Guys,
The idea of the script is that accumalation and small pumps do happen before the big ones, therefore, i tried to create a breakout indicator that can tell that:
the script components are:
1- Price to consolidate within 15% range between the highest of 6 candles and lowest of 6 candles
2- Price needs to breakout with minimum of 1% and maximum of 20%
3- Price needs to have sufficient volume, hence volume of current bar needs to be higher than previous one with 10% at least
4- RSI needs to be between 50 and 75
5- Bollinger Bands Percentage needs to be equal or lower than 1
6- Price is closing above EMA200
I tried to make all these numbers to be available for you guys through settings so you can tell me about any better settings!
The idea of the script is that accumalation and small pumps do happen before the big ones, therefore, i tried to create a breakout indicator that can tell that:
the script components are:
1- Price to consolidate within 15% range between the highest of 6 candles and lowest of 6 candles
2- Price needs to breakout with minimum of 1% and maximum of 20%
3- Price needs to have sufficient volume, hence volume of current bar needs to be higher than previous one with 10% at least
4- RSI needs to be between 50 and 75
5- Bollinger Bands Percentage needs to be equal or lower than 1
6- Price is closing above EMA200
I tried to make all these numbers to be available for you guys through settings so you can tell me about any better settings!
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
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.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.