Volume Bar Breakout and Breakdown Indicator

Volume shows strength of a movement and highest volume shows the region that pushed price to certain extent with full strength. Breakout or Breakout of the highest volume bar range shows continuity further push by sellers or buyers indicating a trend continuation for a small period if not for long duration. Entries can be taken once signal is generated with stoploss as recommended.

Guidelines:

Don't trade if range is too large
Don't trade if Breakdown or Breakdown candle body / range is too large or if there is high volatility
Use additional indicator to get the idea of overall trend analysis

Phát hành các Ghi chú

Additional guidelines

Avoid taking trade in case of large range. Wait for the smaller range to increase Risk : Reward ratio
In case of big range, wait for the retesting of breakout/breakdown

Phát hành các Ghi chú

Added bar state confirmation to ensure that signal comes after the bar is close.

Phát hành các Ghi chú

Refined criteria on relative volume checks.

Phát hành các Ghi chú

Added healthy bearish/bullish bar criteria

Phát hành các Ghi chú

Lookup value change minimum to 5 min

Mã nguồn mở

In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.

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Thông báo miễn trừ trách nhiệm

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

Mã nguồn mở

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