Basic Settings

Calculation Methods - Conditional Addon - Breakout History - Breakout Labelling

What Does The Basic Settings Impact

The basic settings will impact how the indicator utilises highs and lows for providing users with the appropriate zones for breakout treading. There are two different detection modes that can be used such as the higher accuracy mode and the lower accuracy mode. Users can also show previous breakout zones and hide the label next to those zones if they please.

Use Higher Accuracy Method

This is the first input within this group and it is a toggle box that allows user to enable it to provide users with better positioned zones or disable it for more frequently updated zones. We recommend that users have this on for a better breakout trading viewpoint.

Enabled:

Disabled:

Use Bar Close

This is the second input within the group that allows users to add an extra conditional setting to the label's zone broken counter. Users can decide to have the broken zone counted only if the bar has closed past the zone or they can disable this option to detect it being broken as soon as price breaks through those zones.

Enabled:

Disabled:

Show Breakout History

This is the third input within the group and it allows users to see the past breakout zones that were detected on the build up of the market. The history won't show a complete array of zones due to the limitations on PineScript but it will show you enough to see how price has reacted to each zone. If enabled users will be able to see all of the previous zones, if disabled users will only be able to see the most recent zone.

Enabled:

Disabled:

Show Breakout Labels

This is the fourth input that allows users to hide or show the labels next to each zone. The labels will only provide information on each zone's statistics such as it being unbroken or broken through X amounts of times.

If enabled these labels should appear next to each zone.

If disabled there should be no labels.