TrendLine BreakOuts

1) Introduction

TrendLine BreakOuts is a indicator inspired by the original concept created by ChartPrime. It automates the discovery of dynamic trendlines built from swing pivots and highlights the first valid breakout with clear, actionable visuals. Once a breakout occurs, the tool overlays ATR-based take-profit (TP) and stop-loss (SL) rails and tracks which level is reached first, helping traders evaluate follow-through after a structural break. Designed for clarity and speed, it works on any timeframe and instrument, and it offers flexible controls to switch between wick or body pivots and to enable/disable bullish or bearish structures.

2) How the Indicator Works

Pivot detection

• The script scans left/right bars defined by period to confirm swing highs and lows.
• pivottype = 1 → uses wicks (low/high).
• pivottype = 0 → uses bodies (min(open, close) / max(open, close)).

A pivot is confirmed when the current candidate is lower (for lows) or higher (for highs) than the surrounding window on both sides. This ensures robust swing points and limits noise.

Trendline construction

• Bearish lines are drawn by connecting two descending pivot highs (PH).
• Bullish lines are drawn by connecting two ascending pivot lows (PL).
• The slope is computed from the latest two relevant pivots and the line is projected forward bar by bar.

Breakout logic

• For bullish setups (using pivot highs): the indicator checks when price closes above the projected line → breakout.
• For bearish setups (using pivot lows): the indicator checks when price closes below the projected line → breakout.

On the breakout bar, the script establishes TP/SL levels and begins tracking which one is hit first.

Volatility engine (TP & SL)

• The buffer Zband is derived from ATR(30) and the instrument price, then shifted and halved as used in the code.
• TP/SL are placed symmetrically around the breakout reference using a multiplier (*20 in the script).
• As bars evolve, the script checks: TP hit first (win) or SL hit first (loss).

Drawing layer (what you see)

• Trendline segments to the breakout point.
• ▲ / ▼ breakout icons at the crossing.
• Dotted TP/SL rails that extend until the exit bar.
• ✖ marker at the exact exit price (TP or SL first).

3) Inputs & Defaults (Configuration Panel)

Under the hood:

• leftbars = period
• rightbars = max(1, floor(period/2))
  This creates a forward/backward confirmation window around each candidate swing.

4) Signal Anatomy & Chart Markings

Bullish pattern (break above a descending line built from pivot highs):

• Dark green trendline up to the breakout bar.
• ▲ green marker at the breakout.
• Green dotted line for TP and dark red dotted line for SL.
• ✖ orange point at the exit (whichever is hit first), with a small green label.

Bearish pattern (break below an ascending line built from pivot lows):

• Dark red trendline up to the breakout bar.
• ▼ dark red marker at the breakout.
• Green dotted line for TP and dark red dotted line for SL.
• ✖ orange point at the exit, with a small dark red label.

Legend (quick view):

• Trendlines: dark green (bullish), dark red (bearish).
• Breakout icons: ▲ (up), ▼ (down).
• TP: dotted (green).
• SL: dotted (dark red).
• Exit: ✖ (orange point + label).

5) Trade Management Logic

• On breakout, the indicator computes TP and SL using the volatility buffer Zband.
• It simulates the path bar by bar after the breakout: if TP is touched first, it registers a win; if SL is touched first, a loss.
• The script draws until the first event occurs; if neither is hit by the current bar, the rails remain open to barindex.
• islastbarupdate ensures drawing is efficient and that only relevant, up-to-date segments are output on the last recalculation.

6) Code (ProBuilder)

//--------------------------------------------------// //PRC_TrendLine BreakOuts by chartprime //version = 0 //27.11.2024 //Iván González @ www.prorealcode.com //Sharing ProRealTime knowledge //--------------------------------------------------// // Inputs //--------------------------------------------------// period=9 pivottype=1 // 1 means wicks // 0 means Body showtrendUP=1 //Boolean showtrendDN=1 //Boolean //--------------------------------------------------// // Pivots High and Low //--------------------------------------------------// leftbars=period rightbars=max(1,floor(period/2)) if pivottype then src1 = low src2 = high else src1 = min(open,close) src2 = max(open,close) endif //---Pivots Low if src1 > src1[rightbars] and lowest[rightbars](src1) > src1[rightbars] and src1[rightbars] < lowest[leftbars](src1)[rightbars+1] then $PLy[z+1]=src1[rightbars] $PLx[z+1]=barindex[rightbars] z=z+1 //y=(x-x1)*slope+y1 if $PLy[z]>$PLy[z-1] then $slopeL[z]=($PLy[z]-$PLy[z-1])/($PLx[z]-$PLx[z-1]) endif endif //---Pivots High if src2 < src2[rightbars] and highest[rightbars](src2)<src2[rightbars] and src2[rightbars]>highest[leftbars](src2)[rightbars+1] then $PHy[t+1]=src2[rightbars] $PHx[t+1]=barindex[rightbars] t=t+1 //y=(x-x1)*slope+y1 if $PHy[t]<$PHy[t-1] then $slope[t]=($PHy[t]-$PHy[t-1])/($PHx[t]-$PHx[t-1]) endif endif //--------------------------------------------------// //Volatility for TP and SL //--------------------------------------------------// Zband=min(averagetruerange[30](close)*0.3,close*(0.3/100))[20]/2 //--------------------------------------------------// // Draw trendlines and trading signals //--------------------------------------------------// //Trendline and Long positions if islastbarupdate and showtrendUP then for i=t downto 4 do if $PHy[i-1]<$PHy[i-2] then x1=$PHx[i-2] y1=$PHy[i-2] for j=$PHx[i-1]+1 to barindex do x2=j y2=y1+(x2-x1)*$slope[i-1] if close[barindex-j]>y2 then tp=high[barindex-j]+(Zband[barindex-j]*20) sl=low[barindex-j]-(Zband[barindex-j]*20) break endif next for k=x2+1 to barindex do if high[barindex-k]>=tp then x3=k sellprice=max(tp,open[barindex-k]) win=1 break elsif low[barindex-k]<=sl then x3=k sellprice=min(sl,open[barindex-k]) win=0 break else x3=barindex endif next if x2<$PHx[i] then drawsegment(x1,y1,x2,y2)coloured("darkgreen") drawtext("▲",x2,y2-0.25*tr[1])coloured("green") drawsegment(x2,tp,x3,tp)style(dottedline)coloured("green") drawsegment(x2,sl,x3,sl)style(dottedline)coloured("darkred") drawsegment(x2,y2,x2,tp)style(dottedline4,1)coloured("green") drawsegment(x2,y2,x2,sl)style(dottedline4,1)coloured("green") if x3<>barindex then drawpoint(x3,sellprice,1)coloured("orange") drawtext("✖",x3,sellprice+0.25*tr[1])coloured("green") endif endif endif next endif //---TrendLine and Short positions if islastbarupdate and showtrendDN then for i=z downto 4 do if $PLy[i-1]>$PLy[i-2] then x1=$PLx[i-2] y1=$PLy[i-2] for j=$PLx[i-1]+1 to barindex do x2=j y2=y1+(x2-x1)*$slopeL[i-1] if close[barindex-j]<y2 then sl=high[barindex-j]+(Zband[barindex-j]*20) tp=low[barindex-j]-(Zband[barindex-j]*20) break endif next for k=x2+1 to barindex do if high[barindex-k]>=sl then x3=k sellprice=max(sl,open[barindex-k]) win=0 break elsif low[barindex-k]<=tp then x3=k sellprice=min(tp,open[barindex-k]) win=1 break else x3=barindex endif next if x2<$PLx[i] then drawsegment(x1,y1,x2,y2)coloured("darkred") drawtext("▼",x2,y2+0.50*tr[1])coloured("darkred") drawsegment(x2,tp,x3,tp)style(dottedline)coloured("green") drawsegment(x2,sl,x3,sl)style(dottedline)coloured("darkred") drawsegment(x2,y2,x2,tp)style(dottedline4,1)coloured("green") drawsegment(x2,y2,x2,sl)style(dottedline4,1)coloured("green") if x3<>barindex then drawpoint(x3,sellprice,1)coloured("orange") drawtext("✖",x3,sellprice+0.25*tr[1])coloured("darkred") endif endif endif next endif //--------------------------------------------------// return

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//--------------------------------------------------// //PRC_TrendLine BreakOuts by chartprime //version = 0 //27.11.2024 //Iván González @ www.prorealcode.com //Sharing ProRealTime knowledge //--------------------------------------------------// // Inputs //--------------------------------------------------// period=9 pivottype=1 // 1 means wicks // 0 means Body showtrendUP=1 //Boolean showtrendDN=1 //Boolean //--------------------------------------------------// // Pivots High and Low //--------------------------------------------------// leftbars=period rightbars=max(1,floor(period/2)) if pivottype then src1 = low src2 = high else src1 = min(open,close) src2 = max(open,close) endif //---Pivots Low if src1 > src1[rightbars] and lowest[rightbars](src1) > src1[rightbars] and src1[rightbars] < lowest[leftbars](src1)[rightbars+1] then $PLy[z+1]=src1[rightbars] $PLx[z+1]=barindex[rightbars] z=z+1 //y=(x-x1)*slope+y1 if $PLy[z]>$PLy[z-1] then $slopeL[z]=($PLy[z]-$PLy[z-1])/($PLx[z]-$PLx[z-1]) endif endif //---Pivots High if src2 < src2[rightbars] and highest[rightbars](src2)<src2[rightbars] and src2[rightbars]>highest[leftbars](src2)[rightbars+1] then $PHy[t+1]=src2[rightbars] $PHx[t+1]=barindex[rightbars] t=t+1 //y=(x-x1)*slope+y1 if $PHy[t]<$PHy[t-1] then $slope[t]=($PHy[t]-$PHy[t-1])/($PHx[t]-$PHx[t-1]) endif endif //--------------------------------------------------// //Volatility for TP and SL //--------------------------------------------------// Zband=min(averagetruerange[30](close)*0.3,close*(0.3/100))[20]/2 //--------------------------------------------------// // Draw trendlines and trading signals //--------------------------------------------------// //Trendline and Long positions if islastbarupdate and showtrendUP then for i=t downto 4 do if $PHy[i-1]<$PHy[i-2] then x1=$PHx[i-2] y1=$PHy[i-2] for j=$PHx[i-1]+1 to barindex do x2=j y2=y1+(x2-x1)*$slope[i-1] if close[barindex-j]>y2 then tp=high[barindex-j]+(Zband[barindex-j]*20) sl=low[barindex-j]-(Zband[barindex-j]*20) break endif next for k=x2+1 to barindex do if high[barindex-k]>=tp then x3=k sellprice=max(tp,open[barindex-k]) win=1 break elsif low[barindex-k]<=sl then x3=k sellprice=min(sl,open[barindex-k]) win=0 break else x3=barindex endif next if x2<$PHx[i] then drawsegment(x1,y1,x2,y2)coloured("darkgreen") drawtext("▲",x2,y2-0.25*tr[1])coloured("green") drawsegment(x2,tp,x3,tp)style(dottedline)coloured("green") drawsegment(x2,sl,x3,sl)style(dottedline)coloured("darkred") drawsegment(x2,y2,x2,tp)style(dottedline4,1)coloured("green") drawsegment(x2,y2,x2,sl)style(dottedline4,1)coloured("green") if x3<>barindex then drawpoint(x3,sellprice,1)coloured("orange") drawtext("✖",x3,sellprice+0.25*tr[1])coloured("green") endif endif endif next endif //---TrendLine and Short positions if islastbarupdate and showtrendDN then for i=z downto 4 do if $PLy[i-1]>$PLy[i-2] then x1=$PLx[i-2] y1=$PLy[i-2] for j=$PLx[i-1]+1 to barindex do x2=j y2=y1+(x2-x1)*$slopeL[i-1] if close[barindex-j]<y2 then sl=high[barindex-j]+(Zband[barindex-j]*20) tp=low[barindex-j]-(Zband[barindex-j]*20) break endif next for k=x2+1 to barindex do if high[barindex-k]>=sl then x3=k sellprice=max(sl,open[barindex-k]) win=0 break elsif low[barindex-k]<=tp then x3=k sellprice=min(tp,open[barindex-k]) win=1 break else x3=barindex endif next if x2<$PLx[i] then drawsegment(x1,y1,x2,y2)coloured("darkred") drawtext("▼",x2,y2+0.50*tr[1])coloured("darkred") drawsegment(x2,tp,x3,tp)style(dottedline)coloured("green") drawsegment(x2,sl,x3,sl)style(dottedline)coloured("darkred") drawsegment(x2,y2,x2,tp)style(dottedline4,1)coloured("green") drawsegment(x2,y2,x2,sl)style(dottedline4,1)coloured("green") if x3<>barindex then drawpoint(x3,sellprice,1)coloured("orange") drawtext("✖",x3,sellprice+0.25*tr[1])coloured("darkred") endif endif endif next endif //--------------------------------------------------// return

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