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Volume Bar Breakout and Breakdown Indicator

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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


ملاحظات الأخبار
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
ملاحظات الأخبار
Added bar state confirmation to ensure that signal comes after the bar is close.
ملاحظات الأخبار
Refined criteria on relative volume checks.
ملاحظات الأخبار
Added healthy bearish/bullish bar criteria
ملاحظات الأخبار
Lookup value change minimum to 5 min

نص برمجي مفتوح المصدر

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.

iitiantradingsage
breakdownbreakdowntradingbreakoutbreakouttradingtrendTrend AnalysisVolatilityVolume

إخلاء المسؤولية

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.
breakdownbreakdowntradingbreakoutbreakouttradingtrendTrend AnalysisVolatilityVolume

نص برمجي مفتوح المصدر

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.

iitiantradingsage

إخلاء المسؤولية

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.