OPEN-SOURCE SCRIPT
20-day High Breakout

Overview:
The 20-day High Breakout Indicator is a very simple yet powerful tool designed for traders seeking to capitalize on significant price movements in the stock market. This indicator identifies potential buy and sell signals based on a stock's 20-day high breakout levels, making it an essential addition to your trading strategy.
Key Features:
How It Works:
Usage:
The 20-day High Breakout Indicator is a very simple yet powerful tool designed for traders seeking to capitalize on significant price movements in the stock market. This indicator identifies potential buy and sell signals based on a stock's 20-day high breakout levels, making it an essential addition to your trading strategy.
Key Features:
- Swing Period Input: Customize the swing period to your preferred number of days, with a default of 20 days, allowing flexibility based on your trading style.
- Trailing Stop Level: Automatically calculates the trailing stop level based on the highest high and lowest low within the defined swing period, helping to manage risk and lock in profits.
- Buy and Sell Signals: Generates clear buy signals when the price crosses above the trailing stop level and sell signals when the price crosses below, enabling timely entries and exits.
- Visual Indicators: Plots buy signals as green upward triangles below the bars and sell signals as red downward triangles above the bars, providing easy-to-interpret visual cues directly on the chart.
How It Works:
- Resistance and Support Levels: The indicator calculates the highest high (resistance) and lowest low (support) over the defined swing period.
- Swing Direction: It determines the market direction by comparing the current closing price to the previous resistance and support levels.
- Trailing Stop Calculation: Depending on the market direction, the trailing stop level is set to either the support or resistance level.
- Signal Generation: Buy and sell signals are generated based on the crossover of the closing price and the trailing stop level, filtered to ensure only valid signals are displayed.
- Visual Representation: The trailing stop level is plotted as a line, and buy/sell signals are marked with respective shapes for easy identification.
Usage:
- Trend Following: Ideal for traders looking to follow trends and catch significant breakouts in the stock price.
- Risk Management: Helps in managing risk by providing a trailing stop level that adjusts with market movements.
- Visual Clarity: The clear visual signals make it easy for traders to interpret and act upon the indicator's signals.
- Add the 20-day High Breakout Indicator to your TradingView charts to enhance your trading strategy and gain an edge in identifying profitable trading opportunities.
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Follow Us At:
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Website: stockmaniacs.net/
Twitter: twitter.com/stockmaniacs
Facebook: facebook.com/stockmaniacs
Google+: plus.google.com/+stockmaniacs
Quora: quora.com/profile/Indrajit-Mukherjee-25
----
Website: stockmaniacs.net/
Twitter: twitter.com/stockmaniacs
Facebook: facebook.com/stockmaniacs
Google+: plus.google.com/+stockmaniacs
Quora: quora.com/profile/Indrajit-Mukherjee-25
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
Script open-source
In pieno spirito TradingView, il creatore di questo script lo ha reso open-source, in modo che i trader possano esaminarlo e verificarne la funzionalità. Complimenti all'autore! Sebbene sia possibile utilizzarlo gratuitamente, ricorda che la ripubblicazione del codice è soggetta al nostro Regolamento.
Follow Us At:
----
Website: stockmaniacs.net/
Twitter: twitter.com/stockmaniacs
Facebook: facebook.com/stockmaniacs
Google+: plus.google.com/+stockmaniacs
Quora: quora.com/profile/Indrajit-Mukherjee-25
----
Website: stockmaniacs.net/
Twitter: twitter.com/stockmaniacs
Facebook: facebook.com/stockmaniacs
Google+: plus.google.com/+stockmaniacs
Quora: quora.com/profile/Indrajit-Mukherjee-25
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.