Advanced Breakout System

Advanced Breakout System
Developed by: Mohammed Bedaiwi

This script hunts for high-probability breakouts by combining price consolidation zones, volume spikes vs. average volume, smart money flow (OBV), and a Momentum Override for explosive moves that skip consolidation. Additionally, it automatically identifies and plots Support and Resistance levels with price labels to help you visualize market structure.

The system follows a "Watch & Confirm" logic: it first prints a WATCH setup, then a BUY only if price confirms strength.
🔑 Color Legend (Visual Guide)

• 🟡 WATCH – Setup (Yellow Arrow Down):
  Potential breakout setup detected. Monitor the stock and do not enter yet. Triggered when price breaks out of a recent consolidation with strong volume or makes a big momentum move (e.g. >5%) in a single bar.
  
  
• 🟢 BUY – Confirmation (Green Arrow Up):
  Confirmed breakout. Consider entering a long position according to your own rules. Triggered when price trades above the high of the WATCH candle.
  
  
• 🟠 SELL – Break (Orange Arrow):
  Short-term trend weakness. Triggered when price closes below the Fast EMA (9). Used as a protective exit or partial profit-taking.
  
  
• 🔴 SELL – Dump (Dark Red Arrow):
  Distribution / volume dump. Triggered by a bearish candle with abnormally high volume compared to the average (e.g. ≥ Dump Volume Multiplier × average volume).
  
  
• 🟣 SELL – Pattern (Purple Arrow):
  Bearish price-action pattern (such as a bearish engulfing). Indicates a possible top or reversal.
  
  
• 🔴/🟢 Support & Resistance Lines:
  Small horizontal lines plotted at key swing points. Red Line: Resistance (Swing High). Green Line: Support (Swing Low). Both include exact price labels for quick reference.
  

⚙️ Inputs

• Entry settings: Consolidation Lookback (default 20) = bars used to detect consolidation. Consolidation Range % (default 12%) = max allowed range size; higher values make the script more sensitive. Volume Spike Multiplier (default 1.2) = factor above average volume to count as a spike. Force Signal on Big Moves (default ON) = forces a WATCH signal if price jumps more than a set % (e.g. 5%) even without consolidation/OBV confirmation.
  
• Exit settings: Enable Fast Exit (EMA 9) toggles the SELL – Break signal. Dump Volume Multiplier defines what counts as “dump” volume (e.g. 2× average).
  
• Support & Resistance: Adjustable Pivot Left/Right bars allow you to control the sensitivity of the support and resistance lines.
  

⚠️ Disclaimer
Trading involves significant risk of loss. This script is for educational and informational purposes only and is not financial advice or a recommendation to buy or sell any asset. BUY and SELL signals are rule-based and derived from historical behavior and do not guarantee future performance. Always use your own analysis and risk management.