The Smart Support Resistance Break Detector is an indicator that automatically identifies pivot-based support and resistance levels on trading charts. It detects pivot highs and lows and draws horizontal lines that extend in real time as long as the price respects these levels. When the price closes beyond a level, the corresponding line stops exactly at the breakout point, preventing clutter from outdated levels.
The indicator features volume-confirmed break signals to distinguish genuine breakouts from low-conviction moves. It displays specific labels: "B" for clean volume breaks, and "Bull Wick" or "Bear Wick" when breaks are driven by wicks rather than body closes. A volume filter based on EMA oscillators helps filter out noise.
Additional functionalities include configurable pivot detection parameters (Left Bars and Right Bars), automatic filtering of duplicate levels, and limits on the maximum number of active levels per side to maintain chart clarity. Users can customize support and resistance line colors using hex codes.
This tool is designed to highlight key liquidity pools where institutional orders accumulate, aiding traders in identifying active levels and potential reaction points in the market.