Indicator · Pine Script v4 · Own pane

EMA Breakout

by jerryinyang

EMA Breakout is an indicator combining Exponential Moving Averages with higher-timeframe Keltner Channels to identify breakout market conditions.

View on GitHub

Repaints

GitHub stars5on the repository
Pine versionv4older, still runs
Lines of code161
Settings9inputs
LicenceNone stated
Last update2 years ago12 May 2024

Add It to Your TradingView Chart

  1. 1Copy the scriptPress Copy script above. It reads the file straight from GitHub.
  2. 2Open the Pine EditorOpen a TradingView chart and choose Pine Editor at the bottom of the screen.
  3. 3Paste over the templateCreate a new indicator, select all of the template text and paste. Press Save and give it a name.
  4. 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

EMA Breakout calculates multi-timeframe EMAs and dynamic Keltner Channel boundaries using ATR, True Range, or bar width. The indicator compares filtered channel midlines against a broader higher-timeframe channel structure to identify potential breakout conditions. Key settings allow customization of EMA length, Keltner Channel multi-timeframe periods, multipliers, and calculation strategy options. Higher-timeframe calculations repaint on historical bars.

Details

Published by

jerryinyang on GitHub

Type

Indicator, Pine Script v4

Draws

Separate pane below the chart

Category

Trend, Moving averages, Volatility & bands, Breakout

Markets

Any symbol

Timeframes

Any timeframe

Risk Notes

  • Signals can change on the live bar or after it closes (repainting)

Settings

The inputs you can change from the gear icon on the chart. Defaults are the author's.

SettingTypeDefaultVariable
Use Strick Breakout RulebooltrueuseStrictBreak
Choose StrategystringStrategy 1useMeth
EMA TimeframetimeframeemaRes
EMA Lengthint30emaLen
HTF Timeframetimeframe15kCRes
KC Lengthint100kCLength
HTF Multiplierfloat0.25kCMult
Range StylestringATRkCRange
Range Periodint14kCRangeLen
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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