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Daily & Weekly False-Breakout Detector

1 364
Daily & Weekly Lines

  • We retrieve previous day/week’s High and Low.

  • lookahead=barmerge.lookahead_on means we see the “final” daily/weekly bar values intraday, so it may repaint in real‐time.

  • False Breakout Logic


  • Intraday crosses of close above the previous high (PDH or PWH).

  • By the end of the daily/weekly bar, close is back below that high.

  • Similarly for false breakdowns below PDL or PWL.


Shape/Alert

  • Each time an intraday bar crosses up or down, if the final daily/weekly close reverts back inside the prior range, a label is drawn and an alert is triggered.

  • Because we are “peeking” at the daily/weekly close, these signals can appear or disappear in real‐time.

  • If you only want a confirmed signal after the period’s close, switch to lookahead_off, which will finalize them at the next day or next week.
Notes de version
Updated Weekly False Break conditions

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