[CodaPro] Volume Breakout Levels

Volume Breakout Levels — Auto S&R with Volume-Confirmed Breaks

OVERVIEW

Volume Breakout Levels automatically detects support and resistance from pivot highs and lows, then signals when price breaks through with VOLUME CONFIRMATION. Unlike basic S&R indicators, this uses volume separation engine to split each candle into estimated bull and bear volume — ensuring breaks are backed by real directional conviction, not just price crossing a line.

HOW IT WORKS

1. LEVEL DETECTION
Support and resistance are detected using pivot highs and pivot lows with configurable left/right bar confirmation. Levels hold until a new pivot replaces them. Simple, proven, reliable.

2. VOLUME SEPARATION
Each candle's volume is split into bull and bear components based on the body-to-range ratio. A strong bullish candle assigns more volume to buyers. A strong bearish candle assigns more to sellers.

3. BREAK CONFIRMATION
A break is only confirmed when three conditions are met simultaneously:
- Price closes beyond the level (not just a wick)
- Volume exceeds the average by the spike multiplier (default 1.5x)
- Directional volume matches the break (bull volume dominant on upside breaks, bear volume dominant on downside breaks)

This triple filter eliminates the majority of false breaks.

4. WICK BREAK DETECTION
When price breaks a level with volume but the candle shows a long wick in the opposite direction, the break is flagged as a "WICK" break instead of a confirmed break. This signals hesitation — the level was broken but buyers/sellers showed resistance. Use these as caution signals.

FEATURES

- Automatic support and resistance from pivot detection
- Volume spike confirmation on all breaks
- Bull/bear volume separation for directional validation
- Wick break detection (flags hesitation)
- Break candle highlighting
- 4 alert conditions (confirmed breaks + wick breaks)
- Clean, minimal visuals — two lines, occasional labels
- Works on any instrument, any timeframe
- Non-repainting (all signals confirmed on bar close)

SETTINGS

- Left/Right Bars: Controls pivot sensitivity. Higher values detect stronger, more significant levels.
- Volume Average Length: Lookback for calculating normal volume.
- Volume Spike Multiplier: How much above average volume must be for a confirmed break. 1.5x default. Increase for stricter filtering.
- Show Wick Breaks: Toggle wick hesitation signals.
- Color Break Candles: Highlights confirmed break candles on chart.

ABOUT THE BUILD

This indicator was engineered using ARiS, the AI coding engine behind CodaPro.ai. Strategy logic and volume separation methodology by Aris.

Created by Aris | CodaPro Engine

DISCLAIMER
This tool was created using the CodaPro Pine Script architecture engine — designed to produce robust trading overlays, educational visuals, and automation-ready alerts. It is provided strictly for educational purposes and does not constitute financial advice. Always backtest and demo before applying to real capital.