SilverHawk Trendline Breakouts generates long and short breakout signals when price breaches detected trendlines, displaying configurable target and stop-loss lines based on an adjustable risk-to-reward ratio. Settings control the detection period, calculation method using candle wicks or bodies, line extensions, and target visibility. As an indicator, it visualizes potential trade setups and triggers alerts without executing orders or managing trade positions directly.
The inputs you can change from the gear icon on the chart. Defaults are the author's.
Setting
Type
Default
Variable
Bull Zone
color
color.rgb(0, 170, 90)
bullZoneCol
bullTr
int
78
bullTr
Bear Zone
color
color.rgb(220, 70, 60)
bearZoneCol
bearTr
int
78
bearTr
Neutral Band
color
color.rgb(120, 120, 120)
bandCol
bandTr
int
88
bandTr
Target Color
color
color.rgb(190, 140, 40)
targetCol
targetWidth
int
2
targetWidth
Target Style
string
Dashed
targetStyle
SL Color
color
color.rgb(240, 60, 60)
slCol
Show SL Line & Label
bool
true
showSL
Long Signal
color
color.rgb(0, 200, 100)
longSigCol
Show all 23 settings
Setting
Type
Default
Variable
Short Signal
color
color.rgb(240, 60, 60)
shortSigCol
Period
int
10
Period
Type
string
Wicks
Trendtype
Extend
string
25
Extensions
Show Targets
bool
true
ShowTargets
Risk:Reward Ratio
string
2.0
rrRatioStr
Enable Alerts
bool
true
alertsOn
Breakout Bullish
bool
true
al_brkBull
Breakout Bearish
bool
true
al_brkBear
TP Hit
bool
true
al_tpHits
SL Hit
bool
true
al_slHits
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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