Momentum Breakout Signal

//version=5
indicator("Momentum Breakout Signal", overlay=true)

// === Breakout Logic ===
length = 20 // Lookback for recent high
recentHigh = ta.highest(high, length)

// === Breakout Condition: Close > prior high
priceBreakout = close > recentHigh[1]

// === Volume Spike Confirmation ===
volumeSMA = ta.sma(volume, 20)
volumeSpike = volume > volumeSMA * 1.3 // Customize sensitivity

// === Optional: Filter for strong candles only
isGreen = close > open
decentRange = (high - low) > (close * 0.003)

// === Final Signal Logic ===
signal = priceBreakout and volumeSpike and isGreen and decentRange

plotshape(signal, title="Breakout Signal", location=location.abovebar, color=color.orange, style=shape.triangleup, size=size.small)
alertcondition(signal, title="Momentum Breakout Alert", message="🚀 {{ticker}} breakout confirmed at {{close}}")