Calculates an Elastic Volume Weighted Moving Average (EVWMA), incorporating trading volume to dynamically adjust moving average responsiveness over a specified lookback length. It plots directly on the price chart as a single moving average line. Optional colo
Indicator · Pine Script v5 · On the chart
5000x Breakout Scanner
This indicator marks momentum breakouts on the price chart.
GitHub stars8on the repository
Pine versionv5runs as is
Lines of code142
Settings4inputs
LicenceNone stated
Last update7 weeks ago5 Sep 2026
Add It to Your TradingView Chart
- 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
- 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
- 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart, then adjust the settings with the gear icon next to its name.
Source Code
The code stays on GitHub. The author has not published this script under an open licence, so ForexR does not show its code. Copy script reads the file straight from GitHub into your clipboard, so you can still try it on your own chart. Ask the author before reusing the code anywhere else.
Overview
A signal appears only when the bar makes a new high over the lookback, volume is at least a chosen multiple of the 20-bar average, the percentage change from the prior close meets a minimum, the close is above a long simple moving average, and the high from 20 bars earlier is below 95 percent of that lookback high. The lookback, volume multiple, minimum gain, and moving-average length are adjustable. It plots the average, a green background, a triangle label, an alert, and a small stats table. It has no entry, exit, or stop rules.
- New high over a configurable lookback
- Volume multiple versus a 20-bar average
- Minimum daily percentage gain filter
- Long simple moving average trend filter
- Chart marker, background highlight, alert, and stats table
Details
Published by
jmragsdale on GitHub
Type
Indicator, Pine Script v5
Draws
On the price chart
Category
Breakout, Volume, Moving averages
Markets
Stocks, Crypto
Timeframes
H4 and above
Risk Notes
No repainting, lookahead or stacked entries were found in its code or README. That says nothing about how well it works: test it first.
Topics
algorithmic-tradingbreakoutfintechmomentumpinescriptstock-scannerswing-tradingtechnical-analysisthinkorswimthinkscript
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Lookback Period (6 months ~126 bars) | int | 126 | lengthHighs |
| Volume Multiple vs Average | float | 2.0 | volumeMultiple |
| Minimum Daily Gain % | float | 10.0 | minDailyGain |
| Long-term MA Length | int | 200 | maLength |
Third-party code. ForexR did not write, test or endorse this script, and the summary above was generated automatically from its code and README. Indicators describe the past, and a strategy's backtest can look better than live trading, especially when a script repaints. Check it in the Strategy Tester and on a demo account before you rely on it.
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