💥 Early Breakout Detector (Penny Stocks)Early Breakout Detector – Penny Stocks Edition"
This script is designed to detect early breakout signals in low-priced stocks (penny stocks) before the actual breakout happens. It combines multiple technical indicators to spot high-probability setups where a price explosion may be imminent.
🔍 Included logic:
– Unusual relative volume (volume > 2x 20-period average)
– RSI momentum turning bullish (RSI > 50)
– Price trading above the 20-period moving average
– Price approaching recent resistance (within 3%) but not yet breaking it
📈 When all conditions align, a "PRE" label appears on the chart, and an alert can be triggered to catch the move before it happens.
💡 Ideal for traders looking to enter positions before breakouts occur, especially in momentum-driven penny stocks.
🚨 Alerts included. Works on any timeframe. Best results observed on 5min–1H for intraday setups.
🛠 You can modify volume thresholds, RSI period, or resistance distance to suit your strategy.
— Built by AI
Pennystocks
Morning Scalp StrategyThe Morning Scalp Strategy combines the 50EMA with the Stochastic Momentum Index. The morning period is when penny stocks usually have the highest volatility, so the strategy works between 10:00 AM and 12:10 PM.
***It opens only long positions. The ideal timeframe for this scalping strategy is 5 minutes on low-price stocks. The stock should spike in the morning with momentum and Volume.
***Look for a daily or intraday support area, close to the open position, to increase the confidence in the play
The components are:
- EMA50: Exponential Moving Average (EMA50)
- Stochastic Momentum Index (SMI)
Rules:
- Period: 10:00 AM and 12:10 PM
- if SMI Crossover and SMI < 0, open a position
- If close < EMA50, close the position
- Profit target: To be decided by the user, default value = 10% above the entry price
If you have any questions, let me know!
