Best Buy Sell Breakout
- Indicatori
- Versione: 1.50
The Breakout Finder (BF) is a powerful MetaTrader 5 indicator designed to detect potential breakout and breakdown opportunities in price action. By analyzing pivot highs and lows over a user-defined period, it identifies consolidation zones where price has repeatedly tested resistance or support levels within a narrow channel. When price breaks out of these zones with sufficient confirmation (based on the minimum number of tests and channel width threshold), the indicator visually highlights the pattern with colored rectangles, arrows, and optional entry, stop-loss (SL), and take-profit (TP) levels calculated using ATR for risk management.
EA: BlackHole Breakout EA https://www.mql5.com/en/market/product/149206
Key Features:
- Breakout Detection: Scans for bullish breakouts (upward) when price closes above recent highs after testing multiple pivot highs in a lower channel, and bearish breakdowns (downward) when price closes below recent lows after testing multiple pivot lows in an upper channel.
- Visual Signals: Draws customizable rectangles around the consolidation zone, with upward breakouts in yellow (default) and downward in red. An arrow marker (up or down) appears at the breakout candle for easy identification.
- Entry, SL, and TP Levels: Optionally displays dashed lines for suggested entry (at the breakout level), SL (based on ATR multiplied by a user-defined factor, typically 1.5x), and TP (ATR multiplied by 3x). Labels are included for clarity.
- Alerts: Triggers real-time alerts for new breakouts or breakdowns, helping traders react promptly.
- Anti-Repaint Design: Calculations are performed up to the previous bar to avoid repainting on the current candle.
- Customization: Fully adjustable parameters to suit different markets, timeframes, and trading styles.
Input Parameters:
- Period (default: 5): The lookback period for identifying pivot highs and lows.
- Max Breakout Length (default: 200): Maximum bars to consider for historical pivots.
- Threshold Rate % (default: 3.0): Percentage of the recent channel range to define the consolidation width (e.g., 3% of high-low range).
- Minimum Number of Tests (default: 2): Required number of pivot tests within the channel for a valid signal.
- Breakout Colors: Up (yellow) and Down (red) for visual distinction.
- Line Style (default: Solid): Style for drawn lines (solid, dashed, etc.).
- Enable Alerts (default: true): Toggle popup alerts for new signals.
- ATR Period (default: 14): Period for Average True Range used in SL/TP calculations.
- SL Multiplier (default: 1.5): Multiplier applied to ATR for stop-loss distance.
- TP Multiplier (default: 3.0): Multiplier applied to ATR for take-profit target.
- Show Levels (default: true): Display entry, SL, and TP lines on the chart.
This indicator is ideal for breakout traders in forex, stocks, or commodities, providing clear, actionable insights without overwhelming the chart. For support or updates, contact the developer at t.me/blackholequantumpro. Version 1.50, Copyright 2025 Ngoa Long Tien Sinh.
Excelente trabajo, de todos los proyectos que he probado creo que este ha sido el mejor, quisiera saber y sin ofender si existe la posibilidad de que puedas compartir conmigo el codigo fuente de este proyecto?