RED-E Trend Sniper

RED E Trend Sniper

Indicator Description:
This Pine Script indicator is designed to highlight potential trend continuation breakouts by detecting when volume and price action align with strength. It uses a combination of candle body size, volume surge, and an optional EMA-based trend filter to trigger signals.

🔍 How It Works:
Body Size Calculation: Measures the candle body (absolute difference between open and close). A candle qualifies as a "big move" when its body is 1.5× larger than the average over the last 20 candles.

Volume Breakout Check: Compares current volume to the 20-period volume average. A volume breakout is confirmed when volume is 1.5× higher than average.

EMA Trend Filter (Optional):

When enabled, a 50-period EMA determines trend direction.

Bullish condition: close > EMA

Bearish condition: close < EMA

✅ Signal Criteria:
Bullish Breakout Signal (Up Arrow 🔼):

Candle closes green (close > open)

Volume breakout + big move

(Optional) Price is above EMA

Bearish Breakout Signal (Down Arrow 🔽):

Candle closes red (close < open)

Volume breakout + big move

(Optional) Price is below EMA

📌 What Triggers the Arrows:
Volume breakout is the core requirement. When it occurs with a large candle body, the script plots:

🔼 A triangle-up arrow below the candle for bullish breakouts

🔽 A triangle-down arrow above the candle for bearish breakouts

🎯 Purpose:
This indicator is built to catch explosive price movements backed by real participation (volume), helping traders enter on strength and avoid weak or fake breakouts.