Calculates standard Bollinger Bands and identifies band expansion breakouts where upper and lower bands move in opposite directions. It enters long positions when price breaks above the upper band with a high candle body percentage, and enters short positions
Strategy · Pine Script v6 · On the chart
Breakout Strategy Template
This strategy detects price breakouts above rolling highest highs or below lowest lows over a customizable lookback period.
GitHub stars218on the repository
Pine versionv6current
Lines of code134
Settings16inputs
LicenceNone stated
Last update3 months ago23 Jul 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 strategy, select all of the template text and paste. Press Save and give it a name.
- 4Add it to the chartPress Add to chart. The trades and results appear in the Strategy Tester tab; adjust the settings with the gear icon.
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
Breakout Strategy Template includes optional volume spike and ATR volatility threshold filters, along with bar confirmation rules. Positions are taken upon confirmed breakouts and exited using configurable risk-to-reward take profits and stop losses based on ATR, fixed percentage, or swing levels. The script plots on the main price chart.
- Rolling highest-high and lowest-low breakout detection
- Configurable percentage breakout buffer and bar confirmation
- Volume and ATR volatility filters
- ATR, percentage, or swing-based stop loss options
- Risk-to-reward ratio based take profit targets
Details
Published by
TradersPost on GitHub
Type
Strategy, Pine Script v6
Draws
On the price chart
Category
Breakout, Volatility & bands
Markets
Any symbol
Timeframes
Any timeframe
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.
Settings
The inputs you can change from the gear icon on the chart. Defaults are the author's.
| Setting | Type | Default | Variable |
|---|---|---|---|
| Lookback Period | int | 20 | lookbackPeriod |
| Breakout Buffer (%) | float | 0.0 | breakoutBuffer |
| Confirmation Bars | int | 1 | confirmBars |
| Volume Filter | bool | true | useVolumeFilter |
| Volume Multiplier | float | 1.5 | volumeMultiplier |
| ATR Filter | bool | true | useATRFilter |
| ATR Length | int | 14 | atrLength |
| Min ATR Multiplier | float | 0.5 | minATRMultiplier |
| Use Stop Loss | bool | true | useStopLoss |
| Stop Loss Type | string | ATR | stopLossType |
| Stop Loss ATR Multiplier | float | 2.0 | stopLossATR |
| Stop Loss % | float | 2.0 | stopLossPercent |
Show all 16 settings
| Setting | Type | Default | Variable |
|---|---|---|---|
| Use Take Profit | bool | true | useTakeProfit |
| Take Profit R:R | float | 2.0 | takeProfitRR |
| Long Only | bool | false | longOnly |
| Short Only | bool | false | shortOnly |
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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