Fusion: Monster Breakout Index

This indicator is designed to display on both the main chart and a separate chart area. If you want to display it on the main chart then flip the 4 display options. Well... you might want to:

Disable it first
Move it
Flip the display options
and then show it so the move doesn't look ugly.

Display options:

On a separate chart it will display red and lime bars showning potential breakouts.
On the main chart it will show a channel.

Personally like to see it both ways so I generally have two copies of it with one on the main chart.

The "Bar back marker" option is a tiny down arrow at the top of the chart showing where the length of the lookback starts from the current bar. So, if you set the length to 10 then this will be 10 bars back from the current bar. You can show it on or off the main chart but it's not all that visually tasteful off the main chart.

The length is certainly not some optimized setting so set to whatever suits your needs.
The source I set at hl2 which makes more sense to me than the default most people use of close so again, don't assume the settings are correct for your environment... play with it.

Credit:
Modified from the "Monster Breakout Index" by racer8 under the licence of: This source code is subject to the terms of the Mozilla Public License 2.0 at mozilla.org/MPL/2.0/

The code is structured to easily drop into a bigger system so use it as a lone indicator or add the code to some bigger project you are creating. If you do, send me a note, it would be nice to know it's being well used.

Finally, if you find value please do make a comment, give a thumbs up etc.

Enjoy and good luck!

Note di rilascio

Added separate sources for high and low breakouts.
Added selectable rules for dealing with conflicting signals.

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.

Per un accesso rapido a un grafico, aggiungi questo script ai tuoi preferiti: per saperne di più clicca qui.

Koalems

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

Per un accesso rapido a un grafico, aggiungi questo script ai tuoi preferiti: per saperne di più clicca qui.

Koalems