Pivot Trendlines with Breaks [HG] - Enhanced Simple

Pivot Trendlines with Breaks [HG] - Enhanced Simple
An advanced pivot-based trendline indicator that automatically draws dynamic support and resistance lines with real-time breakout detection.
Key Features:

Automatic Trendline Drawing: Creates uptrend and downtrend lines based on pivot highs and lows
Real-Time Breakout Detection: Identifies when price breaks above or below key trendlines
Enhanced Timing Information: Shows exact breakout times and price levels
Customizable Visual Alerts: Multiple alert styles with optional sound notifications
Dark Mode Information Table: Track last breakout details in a clean, organized display

Technical Specifications:

Pivot Length: Adjustable period for pivot point calculation (default: 20)
Repainting Option: Choose between real-time signals or confirmed bar signals
Multiple Trendline Styles: Dotted, dashed, or solid line options
Flexible Extension: Extend lines in any direction or keep them contained

Visual Enhancements:

Breakout Labels: Clear BULL/BEAR labels with optional timestamps
Background Highlighting: Subtle background color changes during active breakouts
Customizable Colors: Separate colors for bullish and bearish signals
Adjustable Label Sizes: Standard or large label options for better visibility

Alert System:

Sound Alerts: Optional audio notifications for breakouts
Visual Alerts: Background highlights and shape plots
Custom Messages: Detailed alert messages with price and time information
Real-time Status: Live tracking of breakout conditions

How It Works:

Identifies Pivot Points: Calculates significant highs and lows based on specified length
Draws Trendlines: Connects relevant pivot points to create support/resistance lines
Monitors Breakouts: Continuously checks for price breaks above/below trendlines
Provides Alerts: Sends notifications when breakouts occur

Settings Panel:

Pivot Length: Control sensitivity of pivot detection
Styling Options: Customize colors, line styles, and extensions
Timing Features: Toggle time display, background highlights, and table visibility
Alert Preferences: Configure sound alerts and label sizes
Table Position: Choose optimal placement for information display

Educational Value:
This indicator helps traders understand price action dynamics through pivot-based analysis. It's particularly useful for identifying potential trend changes and breakout opportunities across all timeframes.
Note: This indicator is for educational and analysis purposes. Always combine with proper risk management and additional market analysis before making trading decisions.