Breaker Blocks & Unicorns (with Deviations) by Rise

30 May

Breaker Block and Unicorns (with Deviations) - The Highest Probability ICT Pattern

This advanced indicator identifies and tracks ICT Breaker Blocks, while incorporating powerful supplementary features including Unicorn patterns and customizable deviation levels.

These patterns develop through a precise market structure sequence culminating in structural breaks. Following Breaker Block confirmation, users can optionally enable highly customizable deviation levels. Additionally, the indicator can scan active Breaker Blocks for overlapping Fair Value Gaps (FVGs) and Inverted Fair Value Gaps (IFVGs)-(also known as "Unicorns") that represent high-probability trading opportunities, highly regarded in the ICT community.

This comprehensive tool provides unmatched functionality for traders and analysts seeking to track, backtest, and execute Breaker Block strategies. With its extensive feature set and granular customization options, it delivers capabilities that surpass existing alternatives in the market.

What is an ICT Breaker Block?
To explain this, we must understand the ABC sequence that form this pattern. It consists of:

Initial range (from A -> B)

First break point, commonly called "Manipulation" (C)

Second break, which is when the pattern is formed.

Each of these "points" consist of pivot levels, with an adjustable strength.

Breaker Blocks are invalidated and made inactive if price breaks the "C point", or manipulation.
Unicorns
Unicorns are Fair Value Gaps or Inverted Fair Value Gaps that overlap a Breaker Block. Breakers have their associated Unicorn, which is updated until price retraces into said gap.

Standard Deviations
This indicator has options to display deviations based on Breaker Blocks:

Breaker Deviations -> using the initial range (A -> B).

Manipulation Deviations -> using the manipulation (B -> C).

Input Settings:
This tool offers a lot of customizable options, which could be overwhelming to some users. Below you will find an in-depth definition of every input's purpose, to complement the tooltips that can be found directly in the indicator's settings.

Mode ⚙️

Default -> Displays every Breaker Block pattern found.

Bullish -> Displays every Bullish Breaker Block found.

Bearish -> Displays every Bearish Breaker Block found.

Reversals -> Displays alternate Breaker Blocks (Bearish -> Bullish -> Bearish and so on).

This is paired with a Historical input, to select the amount of previous Breakers to display.

Extend 📏

Last -> This option will extend the most recent Breaker's drawings.

Specified -> Extend Breakers a preset amount of bars.

All -> Extend all active Breakers to the current bar.

None -> Never extend Breaker Blocks.

Each object has it's specific "offset" parameter, which defines the amount of bars to extend drawings past the current bar.

Parameters
This section defines the main parameters used to define the Breaker Block pattern.

• Time Filter -> Optional session to filter Breakers based on time of day.
  
• Pivot Strength -> Determines how many consecutive bars to the left of a pivot must be lower (for highs) or higher (for lows) to confirm it as a point.
  
• Range Lookback -> Amount of ranges that the indicator will keep track for each direction.
  
• Breaker Type -> Defines how a Breaker Block is displayed:
  

  Range -> Entire initial range.
  Consecutive -> Last consecutive onside candles (upclose for bullish, downclose for bearish).
  Last -> Last onside candle.

• Breaker Offset -> Amount of bars to extend Breaker Blocks past the current bar.
  
• Use Candle Bodies? -> Use bar open to close rather than high to low.
  
• Require Candle Close? -> Use bar close to form Breaker Blocks.
  
• Remove After Invalidation? -> Remove drawings for invalidated Breakers.
  

Style

• Breaker Block boxes styling based on directions.
  
• Optional Middle Line and styling.
  
• Optional Signals for Breaker Block formation:
  

  Triangle label with adjustable sizing on the formation bar.
  Line with custom styling at breakout point to the formation bar.

Unicorn Fair Value Gaps

• Checkbox to display Unicorns with adjustable "FVGs", "IFVGs", or "Both" types.
  
• Overlap Threshold -> Distance away from Breaker to still consider an "overlap".
  
• Unicorn Offset -> Amount of bars to extend unicorn gaps past the current bar.
  
• Lines styling.
  
• Optional Middle Line and styling.
  
• Include Volume Imbalances? -> Include adjacent VIs as part of Fair Value Gaps.
  
• Extend until Reached? -> Extend Unicorn drawings until price reaches them.
  

Deviations

• Checkbox to display Standard Deviations with adjustable types and levels.
  
• Lines styling.
  
• Text size and positioning.
  
• Extend until Reached? -> Extend deviation lines until price reaches them.
  

Text

• Label contents:
  

  Default -> "+/- Breaker".
  Abbreviation -> "+/- BB".
  None -> No text.

• Size.
  
• Font (Default or Monospace) and Format (None, Italic or Bold).
  
• Align -> vertical and horizontal positioning.
  

This indicator is for educational and informational purposes only. Past performance and historical patterns do not guarantee future results. Trading involves substantial risk of loss and is not suitable for all investors. Always conduct your own analysis and consider your financial situation before making any trading decisions. The identification of patterns does not constitute trading advice.

For any additional questions and/or feedback related to this indicator, users can comment below!

5 gün önce

Sürüm Notları

• Fixed live Unicorn detection to find the absolute closest overlap.
  
• Updated IFVG detection logic to correctly include volume imbalances when selected.