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This indicator displays breakouts on Point-And-Figure-like or Kagi-like custom symbol charts, generated by special expert advisers, such as PointFigureKagiCharts.

This indicator is applicable only for custom instruments generated in appropriate way (with time-invariant bars which are multiples of a predefined box size). It makes no sense to apply it to other charts.

This indicator displays breakouts on Point-And-Figure-like or Kagi-like custom symbol charts, generated by special expert advisers, such as PointFigureKagiCharts.

This indicator is applicable only for custom instruments generated in appropriate way (with time-invariant bars which are multiples of a predefined box size). It makes no sense to apply it to other charts.

This indicator is applicable only for custom instruments generated in appropriate way (with time-invariant bars which are multiples of a predefined box size). It makes no sense to apply it to other charts.

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The breakouts in up or down direction are marked by arrows. The breakout price is found at crossing of one of imaginary lines of the following types:
  • a horizontal level based on equal consecutive tops or bottoms;
  • a diagonal based on gradually increased bottoms or decreased tops;
  • a horizontal level based on equal consecutive tops or bottoms;
  • a diagonal based on gradually increased bottoms or decreased tops;

Parameters

  • Order – the number of nearby extremums on the imaginary line, required to detect a breakout; for example, value 3 means “triple” breakout, that is 2 tops/bottoms with retracement are searched to the left of the current bar, and on the 3-rd touch of the level (if it’s occured), the breakout is detected; value 2 (minimal allowed) means “double” breakout, that is breakout on the 2-nd touch of the extremum line;
  • Order – the number of nearby extremums on the imaginary line, required to detect a breakout; for example, value 3 means “triple” breakout, that is 2 tops/bottoms with retracement are searched to the left of the current bar, and on the 3-rd touch of the level (if it’s occured), the breakout is detected; value 2 (minimal allowed) means “double” breakout, that is breakout on the 2-nd touch of the extremum line;

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Published

26 January 2021

Updated

27 January 2021

Current Version

1.1

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