Breakout with SL Label

This script spots breakout opportunities using adaptive support and resistance levels based on volatility-sensitive pivot highs and lows. It triggers buy/sell signals only after a breakout is supported by the next candle's close in the same direction, helping filter out fakeouts. Each signal label includes a built-in stop-loss level based on the previous candle’s high or low—displayed right on the chart.

🔧 User Inputs Explained:

Base Swing Strength – Controls how sensitive the strategy is to price structure. Higher values detect only stronger price swings.

Line Duration – How long each support/resistance line extends across the chart before expiring.

ATR Period – Sets the lookback for Average True Range calculation, which drives volatility awareness.

Volatility Sensitivity – Adjusts how responsive the swing detection is to changing market conditions. Higher = more adaptive, lower = more stable.

Max Lines Stored – Limits how many historical support/resistance lines stay visible to keep your chart clean and lightweight.

✅ Features:

Volatility-adaptive swing detection using normalized ATR

Breakout detection confirmed by price follow-through

Only one trade signal per breakout level

Stop-loss shown directly in the trade signal label

Clean visual layout for faster decision-making

Great for breakout traders who value clarity, confirmation, and consistency without clutter.