Multi Timeframe Breakout/Retest (Gap, FVG, B&R)

6 thg 10, 2024

📊 Breakout & Retest Multi-Timeframe Indicator - Support and Resistance Indicator 📊

In short, this indicator scans 4 timeframes of your choice to check if a proper breakout of your support and resistance lines you input has happened. It color-coats your support and resistance levels based on the type of breakout, labels the levels, and shows which timeframes have had a proper breakout in an interactive table. This tool is primarily used to determine when a breakout—whether Fair Value Gap (FVG), gap, or regular—has occurred, allowing you to confidently play the retest.

🔍 Types of Breakouts:
This indicator highlights three types of breakouts:

• Regular Breakouts: Defined when a candle breaks above or below your level, then closes, and the next candle’s wick does not touch that level.
  
• Gap Breakouts: A gap breakout occurs when we gap above or below the level—often happening on daily candle opens and closes.
  
• FVG Breakouts: An FVG breakout happens when a breakout above or below your level forms a Fair Value Gap, with your level inside the gap. These breakouts tend to have stronger retests
  

📋 Interactive Table
The table helps you visualize which levels are experiencing a breakout and on which timeframes. It color-codes each level based on breakout activity:
🔴 Red: No active breakouts
🟢 Green: Active regular breakout
🔵 Blue: Active FVG breakout
🟡 Yellow: Active gap breakout

🎨 Color Coating & Minimum Timeframe Breakouts

• To make sure you're playing a true breakout, you want confirmation on at least 3 of your chosen timeframes. This indicator has an adjustable "active minimum breakout" setting, which can be customized between 1 and 4 timeframes. I personally find that when a breakout occurs on at least 3 timeframes, the retest tends to have a higher success rate. But you can adjust this setting based on your strategy.
  

🔧 Future Updates (Follow for Updates):
🚨 Alerts: Set alerts for breakouts and retests.
⚙️ Improved Error Handling: For a smoother experience.

6 thg 10, 2024

Phát hành các Ghi chú

Quick update - Bugs fixed

6 thg 10, 2024

Phát hành các Ghi chú

Bugs fixed again - :)