RSI BREAKOUT SIGNALS

This BB + RSI Breakout indicator is designed to help traders identify potential buy and sell opportunities based on price movements relative to the Donchian channel (or Bollinger-type channel) and momentum conditions. It calculates the highest high and lowest low over a user-defined length to form a dynamic channel, and then it checks whether the current price breaks above the upper band (for a buy signal) or below the lower band (for a sell signal). To avoid repeated signals in a row, the indicator uses a state system: after a buy signal occurs, it will not generate another buy until a sell occurs, and vice versa. When a buy signal is triggered, it automatically calculates a take-profit price a certain percentage above the buy candle and displays this price below the candle as a “TP” label. Sell signals are displayed above the candle, and any previous TP label is cleared. The indicator updates in real time, so the signals move with the chart, giving a clear and lag-free visualization of entry points and potential profit targets.