OPEN-SOURCE SCRIPT
Price Action [BreakOut] Internal

Key Features and Functionality
Support & Resistance (S/R): The script automatically identifies and draws support and resistance lines based on a user-defined "swing period." These lines are drawn from recent pivot points, and users can customize their appearance, including color, line style (solid, dashed, dotted), and extension (left, right, or both). The indicator can also display the exact price of each S/R level.
Trendlines: It draws trendlines connecting pivot highs and pivot lows. This feature helps visualize the current trend direction. Users can choose to show only the newest trendlines, customize their length and style, and select the source for the pivot points (e.g., candle close or high/low shadow).
Price Action Pivots: This is a core component that identifies and labels different types of pivots based on price action: Higher Highs (HH), Lower Highs (LH), Higher Lows (HL), and Lower Lows (LL). These pivots are crucial for understanding market structure and identifying potential trend changes. The script marks these pivots with shapes and can display their price values.
Fractal Breakouts: The script identifies and signals "fractal breakouts" and "breakdowns" when the price closes above a recent high pivot or below a recent low pivot, respectively. These signals are visually represented with up (⬆) and down (⬇) arrow symbols on the chart.
Customization and Alerts: The indicator is highly customizable. You can toggle on/off various features (S/R, trendlines, pivots, etc.), adjust colors, line styles, and text sizes. It also includes an extensive list of alert conditions, allowing traders to receive notifications for:
Price Crossovers: When the close price crosses over or under a support or resistance level.
Trendline Breaks: When the price breaks above an upper trendline or below a lower trendline.
Fractal Breaks: When a fractal breakout or breakdown occurs.
Support & Resistance (S/R): The script automatically identifies and draws support and resistance lines based on a user-defined "swing period." These lines are drawn from recent pivot points, and users can customize their appearance, including color, line style (solid, dashed, dotted), and extension (left, right, or both). The indicator can also display the exact price of each S/R level.
Trendlines: It draws trendlines connecting pivot highs and pivot lows. This feature helps visualize the current trend direction. Users can choose to show only the newest trendlines, customize their length and style, and select the source for the pivot points (e.g., candle close or high/low shadow).
Price Action Pivots: This is a core component that identifies and labels different types of pivots based on price action: Higher Highs (HH), Lower Highs (LH), Higher Lows (HL), and Lower Lows (LL). These pivots are crucial for understanding market structure and identifying potential trend changes. The script marks these pivots with shapes and can display their price values.
Fractal Breakouts: The script identifies and signals "fractal breakouts" and "breakdowns" when the price closes above a recent high pivot or below a recent low pivot, respectively. These signals are visually represented with up (⬆) and down (⬇) arrow symbols on the chart.
Customization and Alerts: The indicator is highly customizable. You can toggle on/off various features (S/R, trendlines, pivots, etc.), adjust colors, line styles, and text sizes. It also includes an extensive list of alert conditions, allowing traders to receive notifications for:
Price Crossovers: When the close price crosses over or under a support or resistance level.
Trendline Breaks: When the price breaks above an upper trendline or below a lower trendline.
Fractal Breaks: When a fractal breakout or breakdown occurs.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no pretenden ser, ni constituyen, asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.
Script de código abierto
Fiel al espíritu de TradingView, el creador de este script lo ha convertido en código abierto, para que los traders puedan revisar y verificar su funcionalidad. ¡Enhorabuena al autor! Aunque puede utilizarlo de forma gratuita, recuerde que la republicación del código está sujeta a nuestras Normas internas.
Exención de responsabilidad
La información y las publicaciones no pretenden ser, ni constituyen, asesoramiento o recomendaciones financieras, de inversión, de trading o de otro tipo proporcionadas o respaldadas por TradingView. Más información en Condiciones de uso.