OPEN-SOURCE SCRIPT
Smart Money Breakout Moving Strength [GILDEX]
🟠OVERVIEW
This script draws breakout detection zones called “Smart Money Breakout Channels” based on volatility-normalized price movement and visualizes them as dynamic boxes with volume overlays. It identifies temporary accumulation or distribution ranges using a custom normalized volatility metric and tracks when price breaks out of those zones—either upward or downward. Each channel represents a structured range where smart money may be active, helping traders anticipate key breakouts with added context from volume delta, up/down volume, and a visual gradient gauge for momentum bias.
🟠CONCEPTS
The script calculates normalized price volatility by measuring the standard deviation of price mapped to a [0,1] scale using the highest and lowest prices over a set lookback period. When normalized volatility reaches a local low and flips upward, a boxed channel is drawn between the highest and lowest prices in that zone. These boxes persist until price breaks out, either with a strong candle close (configurable) or by touching the boundary. Volume analysis enhances interpretation by rendering delta bars inside the box, showing volume distribution during the channel. Additionally, a real-time visual “gauge” shows where volume delta sits within the channel range, helping users spot pressure imbalances.
This script draws breakout detection zones called “Smart Money Breakout Channels” based on volatility-normalized price movement and visualizes them as dynamic boxes with volume overlays. It identifies temporary accumulation or distribution ranges using a custom normalized volatility metric and tracks when price breaks out of those zones—either upward or downward. Each channel represents a structured range where smart money may be active, helping traders anticipate key breakouts with added context from volume delta, up/down volume, and a visual gradient gauge for momentum bias.
🟠CONCEPTS
The script calculates normalized price volatility by measuring the standard deviation of price mapped to a [0,1] scale using the highest and lowest prices over a set lookback period. When normalized volatility reaches a local low and flips upward, a boxed channel is drawn between the highest and lowest prices in that zone. These boxes persist until price breaks out, either with a strong candle close (configurable) or by touching the boundary. Volume analysis enhances interpretation by rendering delta bars inside the box, showing volume distribution during the channel. Additionally, a real-time visual “gauge” shows where volume delta sits within the channel range, helping users spot pressure imbalances.
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.
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.
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.