Wizard Break Tracker 1

1. Add the Indicator to a Chart
2. Inputs and Customization
The script includes several customizable inputs that can be adjusted to suit the user's preferences and trading style:

Swing Market Structure
Swing Market Structure Mode (swing_mode):

Options: "All", "Break", "None".
Determines whether to show all market structure points, only breakouts, or disable swing structure visualization.
Swing Lookback (lookback_swing):

Default: 50 bars.
Defines how far back the script looks to detect swing highs and lows.
Internal Market Structure
Internal Market Structure Mode (internal_mode):

Options: "All", "Break", "None".
Determines whether to show all internal structure points, only breakouts, or disable internal structure visualization.
Internal Lookback (lookback_internal):

Default: 15 bars.
Defines how far back the script looks to detect internal highs and lows.
Colors
Users can customize colors for bullish and bearish trends for both lines and labels:
Bullish Color: Used for bullish labels.
Bearish Color: Used for bearish labels.
Bullish Line Color: Used for bullish trendlines.
Bearish Line Color: Used for bearish trendlines.
3. How It Works
The indicator detects swing and internal highs/lows and visualizes breakouts or market structure changes:

Swing Market Structure:

Tracks swing highs and lows based on the lookback_swing period.
If the price crosses a swing high/low, a line and label are added to indicate a breakout or market structure change.
Internal Market Structure:

Tracks internal highs and lows based on the lookback_internal period.
Similarly, breakouts or changes in internal market structure are marked with lines and labels.
4. Visual Representation
Labels:
Labels such as "Swing Break", and "Breakout" are plotted at the midpoint of the respective trendlines.
Trendlines:
Horizontal lines connect the start and end points of detected highs and lows.
5. Trading Application
This indicator can be used for:

Identifying key levels of support and resistance.
Visualizing market structure shifts, which can signal potential trend reversals or continuations.
Highlighting areas where price action broke significant levels (swing or internal).
6. Tips for Usage
Experiment with the lookback_swing and lookback_internal values to optimize detection for your specific market and timeframe.
Use the colors to distinguish easily between bullish and bearish market structures.
Combine this indicator with other analysis tools (e.g., volume, moving averages) for confirmation.
7. Limitations
Works best in trending or structured markets; may generate less useful signals in choppy conditions.
Ensure to test and validate the indicator on historical data before using it in live trading.
"Disclaimer: This indicator is intended for educational purposes only and does not constitute financial advice. Trading involves significant risk, and users should perform their own research and consult with a licensed financial advisor before making any trading decisions."