London Breakout Tracker - Box Style

📊 London Breakout Tracker (Pine Script v6)
This script is designed to track the Asian session range and identify breakout opportunities when the London session begins. It highlights high-probability trade setups and helps avoid fakeouts or overly wide ranges.

🧱 1. Session Time Definitions (Adjusted for Kenyan Time)
The Asian session is defined as:

3:00 AM to 11:00 AM (Kenyan Time)

🔐 2. Asian Session High & Low
During the Asian session:

The script tracks the highest high and lowest low to define the range.

These are stored in variables: asianHigh and asianLow.

🧊 3. Box Drawing for the Asian Range
Once the Asian session ends:

A visual box is drawn around the session using box.new().

This box spans from the session start to end bars and from the high to low.

It helps visually see the range price must break out from.

🚨 4. Breakout Signals
After the Asian session:

A Long Breakout signal is generated if:

The candle closes above the Asian High.

A Short Breakout signal is generated if:

The candle closes below the Asian Low.

This corresponds to 00:00 to 08:00 UTC

These are shown with:

✅ Green up label for long breakouts

❌ Red down label for short breakouts

🧯 5. Fakeout Detection
If price breaks out but closes back inside the Asian range, it’s marked as a Fakeout:

Long Fakeout: Price breaks above high, then closes back below.

Short Fakeout: Price breaks below low, then closes back above.

These are marked with orange X-crosses above or below candles.

⚠️ 6. Wide Range Filter
If the Asian session range is too wide (e.g. > 40 pips), a gray background is drawn.

This warns you not to trade that day since breakouts from wide ranges are unreliable.


📣 7. Alert Conditions
The script can trigger alerts in TradingView when:

🔔 A Long or Short Breakout occurs

⚠️ A Fakeout is detected

You can set these up via the TradingView alert system.


🎯 Overall Purpose:
The script helps you:

Clearly see the Asian session range

Identify breakout opportunities at the London open

Avoid trading during fakeouts or wide-range sessions

Get alerted when breakout/fakeout conditions occur