False Breakout (Expo) For ThinkOrSwim

FOTM_8888 said:
hello gang. i hope someone here can help me and help the group! thanks in advance
Click to expand...
find out below
KyqzIZX.png

I added some more options can be enable/disable.
Author Message:
False Breakout (Expo) is an indicator that detects false breakouts in real-time. A false breakout occurs when the price moves through a certain level but doesn't continue to accelerate in that direction. This is because the price does not have enough momentum and the buying interest at this level is not high enough to keep pushing the price in that direction. Instead, the market reverses! All breakout traders are now forced to close their positions at a loss. However, contrarian traders that have identified this false breakout do get a perfect entry for a great reversal trade!
CODE:
CSS: 
#// © Zeiierman
#https://www.tradingview.com/v/vz0bVIJo/
#indicator("False Breakout (Expo)",overlay=true,max_bars_back = 2000)
# Converted and mod By Sam4Cok@Samer800 - 11/2022

#// ~~ inputs {
input Source     = close;
input HighLowBand = no;
input highlightArea = no;
input FalseBreakoutLines  = yes;
input autoExtendLines     = yes;
input MaxLinesLength = 20;    #Hint MaxLinesLength: Adjust max lengtth of lines if "Auto Extend Lines" disabled.
input signalStyle    = {Arrows,Default Bubbles, None};
input smoothingType  = {default "None", "WMA", "HMA"}; # Smoothing"
input lookbackPeriod = 20; # "False Breakout Period"
input minPeriod  = 5;  # "New Breakout within minimum X bars"
input maxPeriod  = 5;  # "Signal valid for X bars"
input smoothingLength = 10; # "Smoothing Length"
input aggressiveMode  = no; # "This filter enables a more aggressive false breakout detection."

def na = Double.NaN;
def n  = BarNumber();
def h  = high;
def l  = low;
def c  = Source;
def style = if signalStyle==signalStyle.Arrows then 1 else
            if signalStyle==signalStyle.Bubbles then -1 else 0;
#// ~~ var {
def val;
def falsebreakoutup;
def falsebreakoutdown;
def count;
def indx0;
def indx1;
def bar;
#// ~~ smoothing {
script smoothing {
    input maType = "WMA";
    input src = close;
    input len = 14;
    def ma = if maType == "WMA" then WMA(src, len) else
             if maType == "HMA" then HullMovingAvg(src, len) else src;
    plot return = ma;
}
#// ~~ new high/low {
def hSrc = If(aggressiveMode, l, h);
def lSrc = If(aggressiveMode, h, l);
def hh     = Highest(hSrc, lookbackPeriod);
def ll     = Lowest(lSrc, lookbackPeriod);
def hi     = smoothing(smoothingType, hh, smoothingLength);
def lo     = smoothing(smoothingType, ll, smoothingLength);
def condHi = hi > hi[1] and hi[1] <= hi[2];
def condLo = lo < lo[1] and lo[1] >= lo[2];

#// ~~ count {
if condHi {
    count = If(count[1] > 0, 0, count[1]) - 1;
    val   = l;
    indx0 = n;
    indx1 = indx0[1];
    bar   = n;
} else {
    if condLo {
        count = If(count[1] < 0, 0, count[1]) + 1;
        val   = h;
        indx0 = n;
        indx1 = indx0[1];
    bar   = n;
    } else {
        count = If(falsebreakoutup[1] or falsebreakoutdown[1], 0, count[1]);
        val   = val[1];
        indx0 = indx0[1];
        indx1 = indx1[1];
    bar   = n;
    }
}
#// ~~ cond {
def minbars   = (indx1 + minperiod) < indx0;
def maxvalid  = (n - maxperiod) <= indx0;
def breakD    = if c < val then breakD[1] + 1 else 0;
def breakU    = if c > val then breakU[1] + 1 else 0;
def breakdown = breakD == 1;
def breakup   = breakU == 1;
falsebreakoutup   = count < -1 and breakdown and maxvalid and minbars;
falsebreakoutdown = count > 1 and breakup and maxvalid and minbars;

#//~~~}
def ComUp = CompoundValue(1, if falsebreakoutup then val else ComUp[1], val);
def ComDn = CompoundValue(1, if falsebreakoutdown then val else ComDn[1], val);

def valUp = if ComUp==ComUp[1] then valUp[1] + 1 else 0;
def valDn = if ComDn==ComDn[1] then valDn[1] + 1 else 0;

plot UpLine = if isNaN(c) or if(autoExtendLines,no,valUp>MaxLinesLength) then na else ComUp[-2];
plot DnLine = if isNaN(c) or if(autoExtendLines,no,valDn>MaxLinesLength) then na else ComDn[-2];
UpLine.SetPaintingStrategy(PaintingStrategy.POINTS);
DnLine.SetPaintingStrategy(PaintingStrategy.POINTS);
UpLine.SetDefaultColor(Color.DARK_RED);
DnLine.SetDefaultColor(Color.DARK_GREEN);
UpLine.SetHiding(!FalseBreakoutLines);
DnLine.SetHiding(!FalseBreakoutLines);
#// ~~ plot {
plot hiBand = hi;
hiBand.SetDefaultColor(Color.DARK_RED);
hiBand.SetHiding(!HighLowBand);
plot loBand= lo;
loBand.SetDefaultColor(Color.DARK_GREEN);
loBand.SetHiding(!HighLowBand);

plot valLine = val;
valLine.SetHiding(yes);

#---- Signals
plot ArrowDn = if style>0 and falsebreakoutup then h else na;
plot ArrowUp = if style>0 and falsebreakoutdown then l else na;
ArrowDn.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
ArrowUp.SetPaintingStrategy(PaintingStrategy.ARROW_Up);
ArrowDn.SetDefaultColor(Color.MAGENTA);
ArrowUp.SetDefaultColor(Color.CYAN);
ArrowDn.SetLineWeight(2);
ArrowUp.SetLineWeight(2);

#-- Bubbles
AddChartBubble(style<0 and falsebreakoutup, h, "FalseBreakUp", Color.MAGENTA, yes);
AddChartBubble(style<0 and falsebreakoutdown, l, "FalseBreakDn", Color.CYAN, no);
#-- Cloud
AddCloud(if !highlightArea then na else valLine, UpLine, CreateColor(1, 25, 16), CreateColor(38, 0, 0));
AddCloud(if !highlightArea then na else valLine, DnLine, CreateColor(1, 25, 16), CreateColor(38, 0, 0));

#---- END
 
samer800 said:
find out below
KyqzIZX.png

I added some more options can be enable/disable.
Author Message:
False Breakout (Expo) is an indicator that detects false breakouts in real-time. A false breakout occurs when the price moves through a certain level but doesn't continue to accelerate in that direction. This is because the price does not have enough momentum and the buying interest at this level is not high enough to keep pushing the price in that direction. Instead, the market reverses! All breakout traders are now forced to close their positions at a loss. However, contrarian traders that have identified this false breakout do get a perfect entry for a great reversal trade!
CODE:
CSS: 
#// © Zeiierman
#https://www.tradingview.com/v/vz0bVIJo/
#indicator("False Breakout (Expo)",overlay=true,max_bars_back = 2000)
# Converted and mod By Sam4Cok@Samer800 - 11/2022

#// ~~ inputs {
input Source     = close;
input HighLowBand = no;
input highlightArea = no;
input FalseBreakoutLines  = yes;
input autoExtendLines     = yes;
input MaxLinesLength = 20;    #Hint MaxLinesLength: Adjust max lengtth of lines if "Auto Extend Lines" disabled.
input signalStyle    = {Arrows,Default Bubbles, None};
input smoothingType  = {default "None", "WMA", "HMA"}; # Smoothing"
input lookbackPeriod = 20; # "False Breakout Period"
input minPeriod  = 5;  # "New Breakout within minimum X bars"
input maxPeriod  = 5;  # "Signal valid for X bars"
input smoothingLength = 10; # "Smoothing Length"
input aggressiveMode  = no; # "This filter enables a more aggressive false breakout detection."

def na = Double.NaN;
def n  = BarNumber();
def h  = high;
def l  = low;
def c  = Source;
def style = if signalStyle==signalStyle.Arrows then 1 else
            if signalStyle==signalStyle.Bubbles then -1 else 0;
#// ~~ var {
def val;
def falsebreakoutup;
def falsebreakoutdown;
def count;
def indx0;
def indx1;
def bar;
#// ~~ smoothing {
script smoothing {
    input maType = "WMA";
    input src = close;
    input len = 14;
    def ma = if maType == "WMA" then WMA(src, len) else
             if maType == "HMA" then HullMovingAvg(src, len) else src;
    plot return = ma;
}
#// ~~ new high/low {
def hSrc = If(aggressiveMode, l, h);
def lSrc = If(aggressiveMode, h, l);
def hh     = Highest(hSrc, lookbackPeriod);
def ll     = Lowest(lSrc, lookbackPeriod);
def hi     = smoothing(smoothingType, hh, smoothingLength);
def lo     = smoothing(smoothingType, ll, smoothingLength);
def condHi = hi > hi[1] and hi[1] <= hi[2];
def condLo = lo < lo[1] and lo[1] >= lo[2];

#// ~~ count {
if condHi {
    count = If(count[1] > 0, 0, count[1]) - 1;
    val   = l;
    indx0 = n;
    indx1 = indx0[1];
    bar   = n;
} else {
    if condLo {
        count = If(count[1] < 0, 0, count[1]) + 1;
        val   = h;
        indx0 = n;
        indx1 = indx0[1];
    bar   = n;
    } else {
        count = If(falsebreakoutup[1] or falsebreakoutdown[1], 0, count[1]);
        val   = val[1];
        indx0 = indx0[1];
        indx1 = indx1[1];
    bar   = n;
    }
}
#// ~~ cond {
def minbars   = (indx1 + minperiod) < indx0;
def maxvalid  = (n - maxperiod) <= indx0;
def breakD    = if c < val then breakD[1] + 1 else 0;
def breakU    = if c > val then breakU[1] + 1 else 0;
def breakdown = breakD == 1;
def breakup   = breakU == 1;
falsebreakoutup   = count < -1 and breakdown and maxvalid and minbars;
falsebreakoutdown = count > 1 and breakup and maxvalid and minbars;

#//~~~}
def ComUp = CompoundValue(1, if falsebreakoutup then val else ComUp[1], val);
def ComDn = CompoundValue(1, if falsebreakoutdown then val else ComDn[1], val);

def valUp = if ComUp==ComUp[1] then valUp[1] + 1 else 0;
def valDn = if ComDn==ComDn[1] then valDn[1] + 1 else 0;

plot UpLine = if isNaN(c) or if(autoExtendLines,no,valUp>MaxLinesLength) then na else ComUp[-2];
plot DnLine = if isNaN(c) or if(autoExtendLines,no,valDn>MaxLinesLength) then na else ComDn[-2];
UpLine.SetPaintingStrategy(PaintingStrategy.POINTS);
DnLine.SetPaintingStrategy(PaintingStrategy.POINTS);
UpLine.SetDefaultColor(Color.DARK_RED);
DnLine.SetDefaultColor(Color.DARK_GREEN);
UpLine.SetHiding(!FalseBreakoutLines);
DnLine.SetHiding(!FalseBreakoutLines);
#// ~~ plot {
plot hiBand = hi;
hiBand.SetDefaultColor(Color.DARK_RED);
hiBand.SetHiding(!HighLowBand);
plot loBand= lo;
loBand.SetDefaultColor(Color.DARK_GREEN);
loBand.SetHiding(!HighLowBand);

plot valLine = val;
valLine.SetHiding(yes);

#---- Signals
plot ArrowDn = if style>0 and falsebreakoutup then h else na;
plot ArrowUp = if style>0 and falsebreakoutdown then l else na;
ArrowDn.SetPaintingStrategy(PaintingStrategy.ARROW_DOWN);
ArrowUp.SetPaintingStrategy(PaintingStrategy.ARROW_Up);
ArrowDn.SetDefaultColor(Color.MAGENTA);
ArrowUp.SetDefaultColor(Color.CYAN);
ArrowDn.SetLineWeight(2);
ArrowUp.SetLineWeight(2);

#-- Bubbles
AddChartBubble(style<0 and falsebreakoutup, h, "FalseBreakUp", Color.MAGENTA, yes);
AddChartBubble(style<0 and falsebreakoutdown, l, "FalseBreakDn", Color.CYAN, no);
#-- Cloud
AddCloud(if !highlightArea then na else valLine, UpLine, CreateColor(1, 25, 16), CreateColor(38, 0, 0));
AddCloud(if !highlightArea then na else valLine, DnLine, CreateColor(1, 25, 16), CreateColor(38, 0, 0));

#---- END
Click to expand...
@samer800 you are awesome. thank you very much
 
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