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Fakeout Filter

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📈 Fakeout Filter by ARV
🔍 Overview:
The Fakeout Filter is a smart breakout validation tool designed to help traders avoid false breakouts and focus only on high-probability breakout trades. This indicator combines price action, volume analysis, RSI divergence detection, and OBV trend confirmation to filter out noise and improve your entries.

⚙️ Key Features:
✅ Breakout Detection

Detects when the price closes above a user-defined resistance level.

✅ Volume Spike Confirmation

Confirms breakouts only if there’s a significant increase in volume (customizable via settings).

✅ RSI Bearish Divergence Filter

Warns you of bearish RSI divergence, which often signals fakeouts during breakouts.

✅ OBV Trend Confirmation

Ensures On-Balance Volume (OBV) is rising, aligning volume flow with price movement.

✅ EMA Filter (Trend Confirmation)

Adds a safety filter using Exponential Moving Average (EMA) to ensure price action aligns with the short-term trend.

📌 How to Use:
Set Resistance Level:

In the indicator settings, input a key resistance level (manual input based on your chart analysis).

Watch for Signals:

A green background and “Breakout” label appear when:

Price closes above the resistance.

Volume is significantly higher than average.

OBV is rising.

No bearish RSI divergence is detected.

Price is above the EMA (trend confirmation).

Entry Suggestion:

Consider entering long positions only when the breakout label appears.

For additional confirmation, wait for a retest of the resistance as support before entering.

🔧 Settings:
Resistance Level – Manually set the level you're watching.

Volume Multiplier – Adjusts sensitivity to volume spikes (default: 1.5x average).

RSI Period – RSI used for divergence detection (default: 14).

EMA Period – For trend direction confirmation (default: 21).

✅ Best Use Cases:
Scalpers and intraday traders avoiding fakeouts on 5m–1H timeframes.

Swing traders validating breakout setups.

BTC, ETH, and major altcoins in consolidation or breakout zones.

⚠️ Disclaimer:
This tool is for educational purposes only. Always combine it with your own market analysis and risk management.

Feragatname

Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.