10-Bar Breakout + Volume + Adjustable Target(Mastersinnifty)

Description
This indicator identifies potential breakout opportunities from short-term price congestion zones, confirmed with volume. It dynamically highlights breakout signals and plots corresponding price targets using adjustable parameters.

How It Works

• Calculates the highest high and lowest low over the past N bars (default: 10) to define a congestion range.
  
• Confirms a breakout only if volume exceeds the average (SMA or EMA) by a user-defined multiplier.
  
• Plots arrows for Buy or Sell signals based on breakout direction.
  
• Sets a price target using a configurable multiple of the congestion range.
  
• Highlights breakout bars with subtle background colors.
  
• Optionally displays the calculated volume threshold for reference.
  

Inputs

• Congestion Bar Count: Number of bars to define the congestion range.
  
• Volume Multiplier: Volume must exceed this multiple of average volume.
  
• Volume MA Type: Select between SMA or EMA for volume calculation.
  
• Target Multiplier: Controls how far the price target is from the breakout level.
  

Use Case

• Identify high-probability breakout opportunities with volume confirmation.
  
• Set dynamic price targets based on recent market structure.
  
• Avoid entries during low-volume or false breakout conditions.
  

Disclaimer
This script is for educational and analytical purposes only. Use appropriate risk management and test any strategy thoroughly before using it in live trading.