OPEN-SOURCE SCRIPT
London Breakout Structure by Ale
📈 London Breakout Structure by Ale
This indicator identifies market structure breakouts (CHOCH/BOS) within a specific London session window, highlighting potential breakout trades with automatic entry, stop loss (SL), and take profit (TP) levels.
It helps traders focus on high-probability breakouts when volatility increases after the Asian session, using price structure, ATR-based volatility filters, and a custom risk/reward setup.
🔹 Example of Strategy Application
Define your session (e.g. 04:00 to 05:00).
Wait for a CHOCH (Change of Character) inside this session.
If a bullish CHOCH occurs → go LONG at candle close.
If a bearish CHOCH occurs → go SHORT at candle close.
SL is set below/above the previous swing using ATR × multiplier.
TP is calculated automatically based on your R:R ratio.
📊 Example:
When price breaks above the last swing high within the session, a “BUY” label appears and the indicator draws Entry, SL, and TP levels automatically.
If the breakout fails and price closes below the opposite structure, a “SELL” signal will replace the bullish setup.
🔹 Details
The logic is based on structural shifts (CHOCH/BOS):
A CHOCH occurs when price breaks and closes beyond the most recent high/low.
The indicator dynamically detects these shifts in structure, validating them only inside your chosen time window (e.g. the London Open).
The ATR filter ensures setups are valid only when the range has enough volatility, avoiding false signals in low-volume hours.
You can also visualize:
The session area (purple background)
Entry, Stop Loss, and Take Profit levels
Direction labels (BUY/SELL)
ATR line for volatility context
🔹 Configuration
Start / End Hour: define your preferred trading window.
ATR Length & Multiplier: adjust for volatility.
Risk/Reward Ratio: set your desired R:R (default 1:2).
Minimum Range Filter: avoids signals with tight SLs.
Alerts: receive notifications when breakout conditions occur.
🔹 Recommendations
Works best on 15m or 5m charts during London session.
Designed for breakout and structure-based traders.
Works on Forex, Crypto, and Indices.
Ideal as a visual and educational tool for understanding BOS/CHOCH behavior.
This indicator identifies market structure breakouts (CHOCH/BOS) within a specific London session window, highlighting potential breakout trades with automatic entry, stop loss (SL), and take profit (TP) levels.
It helps traders focus on high-probability breakouts when volatility increases after the Asian session, using price structure, ATR-based volatility filters, and a custom risk/reward setup.
🔹 Example of Strategy Application
Define your session (e.g. 04:00 to 05:00).
Wait for a CHOCH (Change of Character) inside this session.
If a bullish CHOCH occurs → go LONG at candle close.
If a bearish CHOCH occurs → go SHORT at candle close.
SL is set below/above the previous swing using ATR × multiplier.
TP is calculated automatically based on your R:R ratio.
📊 Example:
When price breaks above the last swing high within the session, a “BUY” label appears and the indicator draws Entry, SL, and TP levels automatically.
If the breakout fails and price closes below the opposite structure, a “SELL” signal will replace the bullish setup.
🔹 Details
The logic is based on structural shifts (CHOCH/BOS):
A CHOCH occurs when price breaks and closes beyond the most recent high/low.
The indicator dynamically detects these shifts in structure, validating them only inside your chosen time window (e.g. the London Open).
The ATR filter ensures setups are valid only when the range has enough volatility, avoiding false signals in low-volume hours.
You can also visualize:
The session area (purple background)
Entry, Stop Loss, and Take Profit levels
Direction labels (BUY/SELL)
ATR line for volatility context
🔹 Configuration
Start / End Hour: define your preferred trading window.
ATR Length & Multiplier: adjust for volatility.
Risk/Reward Ratio: set your desired R:R (default 1:2).
Minimum Range Filter: avoids signals with tight SLs.
Alerts: receive notifications when breakout conditions occur.
🔹 Recommendations
Works best on 15m or 5m charts during London session.
Designed for breakout and structure-based traders.
Works on Forex, Crypto, and Indices.
Ideal as a visual and educational tool for understanding BOS/CHOCH behavior.
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Script open-source
Dans l'esprit de TradingView, le créateur de ce script l'a rendu open-source, afin que les traders puissent examiner et vérifier sa fonctionnalité. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais n'oubliez pas que la republication du code est soumise à nos Règles.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.