Price breakout

Summary

This Price Breakout category contains all Default Rules related to the Price breakout patterns.
The Price breakout Rules are aimed to identify Market states when the Price reaches user-defined levels. Thus, every rule in this category is a Conditional Rule. This means that it returns only True or False, not a number value.

Reaches S/R Level

This Rule returns True if the Bar is reaching a horizontal Support/Resistance Level. This level is defined by a Horizontal Line Graphical Object on the Chart.
Parameters :

• Bar Position : Position of the Bar on the current chart. 0 is the last printed Bar on the chart. 1, is the previous Bar from the last Bar. 2, is the second previous Bar from the last Bar.
• Timeframe : Timeframe of the Bar. It's advised to let the value "Current" to get the value of the Bar on the current chart.
• Symbol : Symbol of the Bar. It's advised to let the value "Current" to get the value of the Bar on the current chart.

Reaches S/R Area

This Rule returns True if the Bar is reaching a horizontal Support/Resistance Area. This level is defined by a Rectangle Graphical Object on the Chart.
Parameters :

• Bar Position : Position of the Bar on the current chart. 0 is the last printed Bar on the chart. 1, is the previous Bar from the last Bar. 2, is the second previous Bar from the last Bar.
• Timeframe : Timeframe of the Bar. It's advised to let the value "Current" to get the value of the Bar on the current chart.
• Symbol : Symbol of the Bar. It's advised to let the value "Current" to get the value of the Bar on the current chart.

Reaches TrendLine Level

This Rule returns True if the Bar is reaching a Trendline. This level is defined by a TrendLine Graphical Object on the Chart.
Parameters :

• Bar Position : Position of the Bar on the current chart. 0 is the last printed Bar on the chart. 1, is the previous Bar from the last Bar. 2, is the second previous Bar from the last Bar.
• Timeframe : Timeframe of the Bar. It's advised to let the value "Current" to get the value of the Bar on the current chart.
• Symbol : Symbol of the Bar. It's advised to let the value "Current" to get the value of the Bar on the current chart.

Reaches Fibonacci retracement Level

This Rule returns True if the Bar is reaching a Fibonacci retracement level, with the Fibonacci retracement tool. This level is defined by the displayed level on the Chart. It's important to notice that the rule is triggered graphically, this means that if a fibonacci level is hidden or deactivated, the rule will no longer be triggered on this level. Moreover, we advise to use the option "extend to right" option under TradingView theme for the price to reach the levels even on the right part of the chart.
Parameters :

• Bar Position : Position of the Bar on the current chart. 0 is the last printed Bar on the chart. 1, is the previous Bar from the last Bar. 2, is the second previous Bar from the last Bar.
• Timeframe : Timeframe of the Bar. It's advised to let the value "Current" to get the value of the Bar on the current chart.
• Symbol : Symbol of the Bar. It's advised to let the value "Current" to get the value of the Bar on the current chart.

Reaches Fibonacci extension Level

This Rule returns True if the Bar is reaching a Fibonacci extension level, with the Fibonacci extension tool. This level is defined by the displayed level on the Chart. It's important to notice that the rule is triggered graphically, this means that if a fibonacci level is hidden or deactivated, the rule will no longer be triggered on this level. Moreover, we advise to use the option "extend to right" option under TradingView theme for the price to reach the levels even on the right part of the chart.
Parameters :

• Bar Position : Position of the Bar on the current chart. 0 is the last printed Bar on the chart. 1, is the previous Bar from the last Bar. 2, is the second previous Bar from the last Bar.
• Timeframe : Timeframe of the Bar. It's advised to let the value "Current" to get the value of the Bar on the current chart.
• Symbol : Symbol of the Bar. It's advised to let the value "Current" to get the value of the Bar on the current chart.