What is it and what is it for?
It’s a technical analysis algorithm that automatically identifies support and resistance levels 📈 based on historical price ranges, and detects when price breaks these levels to generate trend signals 💡.

How does the logic work?

1️⃣ Range Calculation
The indicator analyzes a defined historical period (fully configurable) to find:
• The highest price reached in that period 📊
• The lowest price reached in that period 📉
• The midpoint between both levels ⚖️

2️⃣ Level Establishment
Once the extremes are identified, the indicator:
• Draws a red line at the maximum level (resistance)
• Draws a green line at the minimum level (support)
• Adds a safety buffer to each level to prevent false signals 🛡️

3️⃣ Breakout Detection
The system constantly monitors the price to detect:
• Bullish breakout 🚀: when the price closes above the resistance level + buffer
• Bearish breakout 🐻: when the price closes below the support level - buffer

4️⃣ Confirmation System
Before generating a final signal ✅, the indicator:
• Waits for a configurable number of consecutive bars confirming the breakout ⏳
• Only after confirmation does it officially change the trend

5️⃣ Dynamic Updating
Levels are recalculated automatically:
• When a new period starts (daily, weekly, or monthly, depending on your settings) 🔄
• Lines extend until new levels are set
• The midpoint line changes color according to the current trend

How to Use the ?

✨ Signals:
• Buy: The 🚀 symbol appears when a bullish breakout is confirmed
• Sell: The 🐻 symbol appears when a bearish breakout is confirmed

🎨 Candle Coloring:
• Candles are automatically colored according to the current trend:
✅ Green: Active bullish trend
❌ Red: Active bearish trend

Parameter Settings

🔧 Lookback Period (5–200, default: 11)
What does it control?
The number of historical bars used to calculate highs and lows.

Impact when modified:
• Low values (5–15):

More reactive and frequent levels
Higher number of signals
Best for scalping and short-term trades
Ideal for highly volatile markets

• High values (30–50):

More stable and lasting levels 🏛️
Fewer but more reliable signals
Better for swing trading and medium-term positions
Ideal for more stable markets

📏 Breakout Threshold (0.01–5.0%, default: 0.1%)
What does it control?
The extra buffer the price must exceed to confirm a breakout.

Impact when modified:
• Low values (0.05–0.15%):

Earlier and more sensitive signals 🔍
Higher risk of false breakouts
Ideal for Forex majors with low spreads
Best for high liquidity markets

• High values (0.3–1.0%):

Later but more reliable signals 🛡️
Lower risk of market noise
Ideal for cryptocurrencies and volatile assets
Best for markets with wider spreads

⏳ Confirmation Bars (1–5, default: 1)
What does it control?
How many consecutive bars must confirm the breakout before generating a signal.

Impact when modified:
• 1 bar:

Instant signals ⚡
More trading opportunities
Higher risk of premature signals
Ideal for active traders

• 2–3 bars:

Balance between speed and reliability ⚖️
Significantly reduces false signals
Ideal for most strategies

• 4–5 bars:

Very conservative signals 🕊️
Maximum reliability
May miss early opportunities
Ideal for long-term positions

📊 Optimization by Asset Type

💱 Forex Majors (EUR/USD, GBP/USD, etc.)
• Lookback: 15–25
• Threshold: 0.05–0.15%
• Confirmation: 1–2 bars

💰 Cryptocurrencies
• Lookback: 10–20
• Threshold: 0.2–0.8%
• Confirmation: 2–3 bars

📈 Stock Indices
• Lookback: 20–30
• Threshold: 0.1–0.3%
• Confirmation: 1–2 bars

🌾 Commodities
• Lookback: 25–35
• Threshold: 0.15–0.4%
• Confirmation: 2–3 bars

Considerations
• May generate late signals in very fast-moving markets 🏃‍♂️
• Less effective in extremely sideways markets
• Requires parameter adjustments depending on asset and timeframe ⏱️