This indicator detect fake breakout on previous day high/low and option previous swing high and low
Rule Detect Fake Breakout On Previous Day High/Low Or Swing high low Fake Breakout -
1) Detect previous day high/low or swing high/low
2) A) If price revisit on previous day high/swing high look for upside breakout after input number of candle (1-5) price came back to previous high and breakout happen downside it show sell because its fake breakout of previous day high or swing high
B) If price revisit on previous day low/swing low look for downside breakout after input number of candle (1-5) price came back to previous low and breakout upside of previous day low it show Buy because its fake breakout of previous day low or swing low
Disclaimer -Traders can use this script as a starting point for further customization or as a reference for developing their own trading strategies. It's important to note that past performance is not indicative of future results, and thorough testing and validation are recommended before deploying any trading strategy.
current price ke nearest 4 previous days high jo sweep nahi huye hai and nearest 4 previous days lows jo sweep nahi huye hai o line in form of horizontal ray ka indicator bana do sir
Crucialblockchain
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@samscripter what time frame does 5 candles calculate on. in the above example, you have 5 candles based on 5mins, but if i am on 1min chart, will it look for 5 candles in 1 min chart ?
samscripter
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@Crucialblockchain, if you are on 1 minute tf it look for 5 candles in 1 min chart...i am not taking higher timeframe data only current timeframe data ...