TradeBreakOut (TBO)

Category: market_structure, trend

Measures the percentage deviation of current price from its recent L-period high and low to identify breakouts. A cross above zero on the resistance line or below zero on the support line signals a breakout.

Formula

TBR_{Resistance} = \frac{Price_{High} - \max(High, L)}{\max(High, L)} \\ TBR_{Support} = \frac{Price_{Low} - \min(Low, L)}{\min(Low, L)} \\ \text{Where Price is Current High/Low or Close based on settings.}

Inputs

• TimeFrame (default: PERIOD_CURRENT)
• L (default: 50)
• PriceType (default: PriceHighLow)
• TriggerCandle (default: CURRENT_CANDLE)
• EnableDrawArrows (default: true)

See signal primitives and every published strategy that uses TradeBreakOut (TBO) on WOBR StrategyVerse.