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Breakout Range

80 USD

Demo downloaded: 158

Published: 18 October 2016

Current version: 1.30

Breakout Range

Indicators
Petr Plechac
Version: 1.30
Updated: 22 November 2021
Activations: 5

This is a simple and efficient indicator based on market logic. The indicator creates a range chosen by a trader.

Trader selects only two parameters.

The first one is the number of candles that define the frame.

The second one is the number of candles needed for confirmation frame.

The indicator shows all situations in history and works with the actual movement of the market.

The indicator works on all timeframes. You are not limited by use of different timeframes, the indicator is able to adapt. On the screenshots, you can see basic settings.

Example setting

1; 1

This is actually an Inside Bar.

1 main candle, 1 candle must be inside the previous one. Simple...

Parameters

StartCandles - number of candles which create an imaginary frame (size)
NextCandles - number of candles which have to be inside the imaginary frame that is created from "start candles"
Tolerance - tolerance in points
TolerancePerc - tolerance in percent from the frame
MinRange - minimal size of the frame
MaxRange - maximum size of the frame
AdjustRange - enlarging the frame (next candles can mildly intersect the imaginary frame by chosen tolerance and thanks to Adjust Range, the size of the frame will increase by degree of intersection)
MultiRange - possibility of more frames drawn into each other
Start/Next Range Color - color
ShowAlarm - true/false
AlarmDistance - how many points after the intersection of range the alarm sounds

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Version 1.30 2021.11.22

New version 2021

Version 1.10 2016.11.02

We added description warnings about the risks into the tool.
We added an alert in case of break through the frame.