Pivots Consolidation Breakout Screener with Alerts

• 
  Screener - up to 12 instruments/symbols per single indicator (consolidations and breakouts alerts)


• 
  2 Alerts - 1 to notifies when consolidation happens, another when breakout occurs


• Pivots timeframe can be modified for more signals (less accurate), or for less signals (more accurate)


• Every calculation is done on a confirmed closed candle bar state, so the indicator will never repaint


• Works with all popular timeframes! Works best with shorter timeframes: 1M, 5M, 15M, 1H.


• There is no backtesting ability, however our Camarilla Pivots Indicator (SOURCE: 4) can be utilized for this.

      This indicator is designed as a consolidation screener, capable of monitoring up to 12 different symbols or instruments. It alerts users when consolidation occurs, marked by the formation of new R3 (inner resistance) pivot points below the previous ones and new S3 (inner support) pivot points above the previous ones.



      Once the indicator triggers an alert for a specific symbol or instrument due to consolidation, users can also set a breakout alert for that consolidated symbol or instrument. This functionality helps traders stay informed about potential breakout opportunities in the market.



       Such formations can be quite powerful, especially when it comes to identifying potential breakout opportunities. Breakouts from consolidations often signify significant price movements, making them attractive to traders looking to capitalize on substantial price shifts. By recognizing this pattern and setting breakout alerts, traders can position themselves to take advantage of these potentially lucrative market movements.



      Due to limitations, there is no possibility to add backtesting for the screener, however, our Camarilla Pivots Indicator now includes the consolidation/breakout signal (SOURCE: 4), with Take-Profit/Stop-Loss/all the full cycle trading features. Traders can perform thorough backtests on specific instruments and then apply their findings to the screener, expanding their trading opportunities with greater confidence and precision. This flexibility can enhance trading strategies and increase the potential for success. Otherwise, this screener can be used to locate potential big moves with other pivots (R4/R5/S4/S5) to be used as Take-Profit/Stop-Loss areas.       

Indicator Main Features

• Up to 12 instruments/symbols consolidation monitoring per 1 indicator instance (can add indicator several times to the chart for more instruments/symbols to be monitored).


• 
  Consolidation Stats Table allows to immediately see if there is a consolidation formation taking place for the selected instrument(s)/symbol(s).


• Pivot length/resolution/timeframe can be modified for different trading styles (smaller for more aggressive trading, default/longer for more conservative trading).


• Semi-Automated alert system where the 1st alert will notify whenever there is a consolidation for the chosen/checked instrument(s)/symbol(s) and then the secondary alert will notify when the actual breakout occurs while in consolidation.