OPEN-SOURCE SCRIPT
Trendline Breakouts With Targets [ChartPrime]
Mis à jour
The Trendline Breakouts With Targets indicator is meticulously crafted to improve trading decision-making by pinpointing trendline breakouts and breakdowns through pivot point analysis.
Here's a comprehensive look at its primary functionalities:
Upon the occurrence of a breakout or breakdown, a signal is meticulously assessed against a false signal condition/filter, after which the indicator promptly generates a trading signal. Additionally, it conducts precise calculations to determine potential target levels and then exhibits them graphically on the price chart.
🔷Key Features:
🔸Trendline Drawing: The indicator automatically plots trendlines based on significant pivot points and wick data, visually representing the prevailing trend.
🔸Breakout and Breakdown Signals : It triggers trading signals when a breakout (price moves above the trendline) or a breakdown (price moves below the trendline) is detected, helping traders identify potential entry points.
🔸False Breakout/ Breakdown Filter ✔️: To enhance accuracy, the indicator incorporates a filter to reduce false breakout and breakdown signals, helping traders avoid premature entries.
🔸Target Calculation: The indicator performs target-level calculations, a critical aspect of trade management.
These calculated target levels are visually displayed on the price chart, helping traders set precise profit targets and make well-informed trading decisions.
🔸Color-Change Labels: The indicator features label color changes to provide quick visual cues. Labels are initially displayed in orange. When a take profit (TP) level is reached, the label changes to green, indicating a successful trade. Conversely, if a stop-loss (SL) level is hit, the label turns red, signaling a losing trade.
🔸Settings :
This indicator combines technical analysis, trendline identification, breakout/breakdown signals, and risk management tools to assist traders in making more informed and efficient trading decisions. It can be a valuable addition to any trader's toolkit, helping them identify potential trade opportunities and manage risk effectively.
Here's a comprehensive look at its primary functionalities:
Upon the occurrence of a breakout or breakdown, a signal is meticulously assessed against a false signal condition/filter, after which the indicator promptly generates a trading signal. Additionally, it conducts precise calculations to determine potential target levels and then exhibits them graphically on the price chart.
🔷Key Features:
🔸Trendline Drawing: The indicator automatically plots trendlines based on significant pivot points and wick data, visually representing the prevailing trend.
🔸Breakout and Breakdown Signals : It triggers trading signals when a breakout (price moves above the trendline) or a breakdown (price moves below the trendline) is detected, helping traders identify potential entry points.
🔸False Breakout/ Breakdown Filter ✔️: To enhance accuracy, the indicator incorporates a filter to reduce false breakout and breakdown signals, helping traders avoid premature entries.
🔸Target Calculation: The indicator performs target-level calculations, a critical aspect of trade management.
These calculated target levels are visually displayed on the price chart, helping traders set precise profit targets and make well-informed trading decisions.
🔸Color-Change Labels: The indicator features label color changes to provide quick visual cues. Labels are initially displayed in orange. When a take profit (TP) level is reached, the label changes to green, indicating a successful trade. Conversely, if a stop-loss (SL) level is hit, the label turns red, signaling a losing trade.
🔸Settings :
This indicator combines technical analysis, trendline identification, breakout/breakdown signals, and risk management tools to assist traders in making more informed and efficient trading decisions. It can be a valuable addition to any trader's toolkit, helping them identify potential trade opportunities and manage risk effectively.
Notes de version
Update chartScript open-source
Dans le plus pur esprit TradingView, l'auteur de ce script l'a publié en open-source, afin que les traders puissent le comprendre et le vérifier. Bravo à l'auteur! Vous pouvez l'utiliser gratuitement, mais la réutilisation de ce code dans une publication est régie par nos Règles. Vous pouvez le mettre en favori pour l'utiliser sur un graphique.
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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.