OPEN-SOURCE SCRIPT

False Breakout (Expo)

█ Overview

False Breakout (Expo) is an indicator that detects false breakouts in real-time. A false breakout occurs when the price moves through a certain level but doesn't continue to accelerate in that direction. This is because the price does not have enough momentum and the buying interest at this level is not high enough to keep pushing the price in that direction. Instead, the market reverses! All breakout traders are now forced to close their positions at a loss. However, contrarian traders that have identified this false breakout do get a perfect entry for a great reversal trade!

False Breakout is one of the most important price action trading patterns to learn because it can help traders understand whether a breakout is valid or false.

█ How to use

Identify False Breakouts
Identify Reversal trades

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