Dual Trendline Breakout [Splirus]

This advanced trading tool leverages the power of dual pivot-based trendlines to provide traders with a superior edge in identifying potential breakout and retest opportunities. By combining two separate pivot lengths, the indicator creates both primary and secondary trendlines, enabling more robust confluence and decision-making in your trading strategy.

Key Features:

1. Dual Pivot Analysis:

• Primary Trendline: Uses a shorter pivot length to capture immediate price movements and breakout scenarios.
  
• Secondary Trendline: Employs a longer pivot length for broader trend identification and confirmation.
  

2. Enhanced Confluence:

• The combination of short-term and long-term trendlines provides stronger signals, reducing false positives and enhancing accuracy.
  

3. Dynamic Visualization:

• Automatically plots trendlines and extends them until they are crossed.
  
• Distinct colors for uptrend and downtrend lines for easy interpretation.
  
• Highlights where price breaks above or below the trendlines with bar coloring.
  

4. Alerts for Key Events:

• Alerts are triggered for breakout and retest scenarios, ensuring you never miss critical market movements.
  

5. Customizable Settings:

• Adjust pivot lengths, trendline colors, and visualization preferences to suit your trading style.
  
• Optional settings for showing only the most recent trendlines, hiding crossed lines, and extending lines dynamically.
  

How It Works:

• The indicator identifies pivot highs and lows based on the specified lengths for both primary and secondary trendlines.
  
• When price interacts with these trendlines (breakout, retest, or cross), it highlights the event with customizable bar colors and optional alerts.
  
• By monitoring these interactions, traders can better time their entries and exits, leveraging the dual-period analysis for stronger market confluence.
  

Ideal Use Cases:

• Scalping: Use primary trendlines for quick trade opportunities.
  
• Swing Trading: Combine primary and secondary trendlines for more significant market moves.
  
• Trend Continuation or Reversal: Identify breakout confirmations or retests for confident trade setups.
  

This indicator is a powerful addition to any trader's toolkit, offering precision, adaptability, and actionable insights for navigating the markets with confidence.

Its closed-source design ensures that the unique advantages of the Dual Trendline identification algorithm remain exclusive to its users, providing an edge that cannot be duplicated elsewhere.