Lowest Low Breakout Signal w/ Target

6 gün önce

### **Script Description**

This TradingView Pine Script indicator identifies breakout entry opportunities after a new **lowest low** is formed within a user-defined lookback period. It is designed for traders who want to catch reversals or breakouts from extreme lows with clearly defined targets.

**Key Features:**

* **Lowest Low Detection**: The script monitors price action for a candle that forms a new lowest low within the specified lookback period.
* **Breakout Entry Signal**: Once a breakout occurs (price closes above the high of the lowest-low candle), an **up arrow** is plotted below the entry bar.
* **Target Calculation**: Calculates **Target 1** as 50% retracement of the distance between the latest swing high and the lowest low.
* **Dynamic Table Display**: Shows real-time **Entry Price** and **Target 1** values in a table fixed on the chart (top-right corner), updating with each signal.
* **Alerts**: Sends alerts when a breakout entry signal occurs, making it easy to automate notifications.
* **Clean Visualization**: Removes clutter by eliminating extra labels and lines, using only a simple arrow and table for clarity.

**Use Case:**
Ideal for breakout traders, swing traders, and those who follow retracement-based profit targets. The indicator helps identify early entries after significant lows and provides a clear first target level.

6 gün önce

Sürüm Notları

his Pine Script is an indicator designed to identify and signal a potential "Lowest Low Breakout."

The script works by first detecting a new lowest low within a user-defined lookback period. When a new lowest low is found, it then looks for the most recent swing high from which to measure a potential price movement.

The entry signal is triggered when the current close price breaks and closes above the high of the candle that formed the lowest low. Instead of plotting a separate shape, the script highlights the background of the entry candle in green to visually indicate the signal.

Finally, the script includes a small information table on the chart to display the price of the entry candle and a calculated price for a Target 1. The target is set at 50% of the distance between the last swing high and the signal candle's high.