OPEN-SOURCE SCRIPT
Updated 1R Breakout Highlighter
1R Breakout. This indicator measures every bar and highlights any bar that is greater than the previous bar by more than 1R.
Release Notes
Highlights breakout momentum bars and their reference bars using the previous bar’s range (1R). Colors the current bar green or red when price moves a user-defined multiple of the prior bar’s range above the high (bull breakout) or below the low (bear breakout). The reference (previous) bar is marked blue when a breakout occurs. Useful for visualizing 1R volatility and breakout behavior in real time.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.