**Support and Resistance Detection:**
- **Lookback Range:** Users can customize the lookback range, determining how many bars are considered when identifying support and resistance levels. This allows for flexibility in capturing short-term or longer-term levels.
- **Bars Since Breakout:** The indicator helps traders spot retests by allowing them to specify the number of bars that should occur since a breakout before considering it a potential retest.
- **Retest Detection Limiter:** Traders can set a limit on how many bars should be actively checked during a potential retest event. This feature prevents retest alerts from occurring too late, ensuring more accurate results.
- **Breakouts and Retests:** Users can choose to display or hide breakout and retest events separately, tailoring the indicator to their specific trading strategy.
- **Repainting Options:** The indicator offers three repainting options: "On," "Off: Candle Confirmation," and "Off: High & Low." This provides flexibility in choosing the repainting behavior that suits your trading style.
- **Outline and Extend:** Traders can customize the appearance of support and resistance boxes by selecting outline styles and extension preferences.
- **Label Types and Sizes:** The indicator offers two label types, "Full" and "Simple," allowing traders to choose the level of detail displayed on the chart. Additionally, users can adjust the label size for better visibility.
- **Customizable Colors:** Support and resistance levels can be color-coded to match your preferred charting style, enhancing visibility and clarity.
- **Override Text Color:** If desired, traders can override the text color for labels, providing further customization of the indicator's appearance.
**Alerts and Notifications:**
- The indicator generates various alerts and notifications to keep traders informed about critical market events, including:
- New Support and Resistance Levels
- Support and Resistance Breakouts
- Support and Resistance Retests
- Potential Support and Resistance Retests
**Volatility Stop Indicator:**
- The "Breaks and Retests with Volatility Stop " indicator also includes a Volatility Stop component, which helps traders manage risk by indicating potential stop-loss levels based on market volatility. The Volatility Stop is color-coded to reflect the current trend direction, making it easy to identify potential trend reversals.
In summary, this TradingView indicator is a comprehensive tool designed to enhance your technical analysis and trading decisions. It provides support and resistance levels, breakout and retest alerts, and incorporates a Volatility Stop indicator for risk management, making it a valuable addition to any trader's toolkit.
This script provides a comprehensive view of potential breakouts, retests, and dynamic support/resistance levels utilizing volatility stops and adjustable moving averages. It aims to assist traders in identifying key price action moments on charts.
Features and Benefits:
Breakout and Retest Identification: The script detects breakouts and potential retests following price movements. It provides labels and alerts to signify these crucial market events.
Support and Resistance Indicators: Dynamic support and resistance levels are identified and plotted, allowing traders to assess key areas of interest.
Volatility Stop Indicator: The built-in Volatility Stop indicator helps gauge potential trend reversals or continuations, signaling optimal entry or exit points.
Adjustable Moving Averages: Users can apply two customizable moving averages to gain insights into trend directions and potential crossovers.
Breakouts and Retests: Watch for breakout alerts and potential retest labels. These events often indicate significant shifts in market sentiment.
Dynamic Support/Resistance: Pay attention to dynamically plotted support and resistance levels. These zones can act as crucial decision points for traders.
Volatility Stop: Utilize the Volatility Stop indicator to confirm potential trend changes or continuation points.
Adjustable Moving Averages: Experiment with different lengths for the moving averages to align with your trading strategies, such as trend confirmation or reversal indications.
This script combines various tools and alerts to help traders make informed decisions based on critical market movements. Use it alongside your analysis and strategies for comprehensive technical analysis.
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