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This document contains Pine Script source code for an indicator that identifies breakouts from a price range defined by pivots highs and lows over a given length. It calculates an upper and lower trendline using slope calculations and plots shapes to identify breakouts above the upper line or below the lower line. Alerts are triggered when the price crosses the upper or lower lines.

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Nadun Nethmika
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132 views

New Text Document

This document contains Pine Script source code for an indicator that identifies breakouts from a price range defined by pivots highs and lows over a given length. It calculates an upper and lower trendline using slope calculations and plots shapes to identify breakouts above the upper line or below the lower line. Alerts are triggered when the price crosses the upper or lower lines.

Uploaded by

Nadun Nethmika
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as TXT, PDF, TXT or read online on Scribd
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// This source code is subject to the terms of the Mozilla Public License 2.

0 at
https://mozilla.org/MPL/2.0/
// © nadunnethmika3

//@version=5
indicator("VIP [🐳 SL Crypto Whales🥷🇱🇰]",overlay=true)
length = input.int(14)
k = input.float(1.,'Slope',minval=0,step=.1)
method = input.string('Atr','Slope Calculation Method',
options=['Atr','Stdev','Linreg'])
show = input(false,'Show Only Confirmed Breakouts')
//----
upper = 0.,lower = 0.
slope_ph = 0.,slope_pl = 0.
src = close
n = bar_index
//----
ph = ta.pivothigh(length,length)
pl = ta.pivotlow(length,length)
slope = switch method
'Atr' => ta.atr(length)/length*k
'Stdev' => ta.stdev(src,length)/length*k
'Linreg' => math.abs(ta.sma(src*bar_index,length)-
ta.sma(src,length)*ta.sma(bar_index,length))/ta.variance(n,length)/2*k

slope_ph := ph ? slope : slope_ph[1]


slope_pl := pl ? slope : slope_pl[1]

upper := ph ? ph : upper[1] - slope_ph


lower := pl ? pl : lower[1] + slope_pl
//----
single_upper = 0
single_lower = 0
single_upper := src[length] > upper ? 0 : ph ? 1 : single_upper[1]
single_lower := src[length] < lower ? 0 : pl ? 1 : single_lower[1]
upper_breakout = single_upper[1] and src[length] > upper and (show ? src >
src[length] : 1)
lower_breakout = single_lower[1] and src[length] < lower and (show ? src <
src[length] : 1)
plotshape(upper_breakout ? low[length] : na,"Upper
Break",shape.labelup,location.absolute,#26a69a,-
length,text="B",textcolor=color.white,size=size.tiny)
plotshape(lower_breakout ? high[length] : na,"Lower
Break",shape.labeldown,location.absolute,#ef5350,-
length,text="B",textcolor=color.white,size=size.tiny)
//----
var line up_l = na
var line dn_l = na
var label recent_up_break = na
var label recent_dn_break = na

if ph[1]
line.delete(up_l[1])
label.delete(recent_up_break[1])

up_l := line.new(n-length-1,ph[1],n-length,upper,color=#26a69a,
extend=extend.right,style=line.style_dashed)
if pl[1]
line.delete(dn_l[1])
label.delete(recent_dn_break[1])

dn_l := line.new(n-length-1,pl[1],n-length,lower,color=#ef5350,
extend=extend.right,style=line.style_dashed)

if ta.crossover(src,upper-slope_ph*length)
label.delete(recent_up_break[1])
recent_up_break := label.new(n,low,'B',color=#26a69a,
textcolor=color.white,style=label.style_label_up,size=size.small)

if ta.crossunder(src,lower+slope_pl*length)
label.delete(recent_dn_break[1])
recent_dn_break := label.new(n,high,'B',color=#ef5350,
textcolor=color.white,style=label.style_label_down,size=size.small)

//----
plot(upper,'Upper',color = ph ? na : #26a69a,offset=-length)
plot(lower,'Lower',color = pl ? na : #ef5350,offset=-length)

alertcondition(ta.crossover(src,upper-slope_ph*length),'Upper Breakout','Price
broke upper trendline')
alertcondition(ta.crossunder(src,lower+slope_pl*length),'Lower Breakout','Price
broke lower trendline')

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