ALRais Gold Indicator

🔍 What Does the AlRais Gold Indicator Do?

The AlRais Gold Indicator is a custom technical analysis tool built for TradingView using Pine Script. It is designed to help traders identify high-probability buy and sell opportunities based on market structure, Fibonacci retracement levels, and dynamic stop loss and take profit targets.

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🧠 Key Features of the AlRais Gold Indicator:
1. Trend Break Detection:
• The indicator detects when a trendline (based on highs and lows) is broken.
• After the trendline is broken, it waits for a retest of the broken level to confirm a potential entry zone.
2. Entry Zone (Buy/Sell Zone):
• When the trendline is broken and retested successfully:
• A Buy Zone is drawn (blue rectangle) if it’s a bullish breakout.
• A Sell Zone is drawn (red rectangle) for a bearish breakout.
• These zones are based on Fibonacci levels (50%–61.8%) and serve as optimal entry areas.
• Inside the zone, a label like “Buy Zone” or “Sell Zone” is displayed.
3. Dynamic Stop Loss (SL):
• A stop loss level is calculated dynamically:
• For buy setups: SL is placed just below the last swing low.
• For sell setups: SL is above the last swing high.
• A red label “SL” with the price appears at this level.
4. Take Profit Targets (TP1–TP4):
• The indicator automatically calculates four target levels based on Fibonacci