Breakout Hunter [ZuperView]

Based on 2 concepts from Wyckoff Theory, accumulation and distribution zones may reflect the balance of power between buyers and sellers:

• Accumulation → buyers absorb supply, preparing for a rally.
  
• Distribution → sellers absorb demand, preparing for a decline.
  

Most traders wait for major accumulation/distribution phases, but it takes days or weeks to form. Breakout Hunter lets you take advantage of micro phases – smaller, quicker setups ideal for scalping or intraday trades.

It is a highly customizable indicator that helps you visualize where the market builds up energy. Whether price breaks in line with or against the prior move, it adapts, helping you trade both continuations and reversals.

📌 Key features

Breakout Hunter provides 2 modes for you to choose from:

🔸 Same Direction Mode (For successful breakouts)

With this mode, Breakout Hunter will look for and signal breakouts after a successful Distribution/Accumulation phase.

Bullish setup:

1. Breakout Hunter identifies n consecutive bullish candles.

2. Then, it determines the range using the highest high and the lowest low of these candles. This forms a short-term accumulation zone.

3. When price breaks above this range, a bullish signal is triggered.

Bearish setup:

1. Breakout Hunter identifies n consecutive bearish candles.

2. Then, it determines the range using the highest high and the lowest low of these candles. This forms a short-term distribution zone.

3. When the price breaks below this range, a bearish signal is triggered.

🔸 Any Direction Mode (For both successful and failed breakouts)

This mode allows you to get both successful and failed breakouts. So, you can capture entry signals in either direction after an accumulation/distribution phase.

Here is how this mode works:

1. The indicator identifies n consecutive candles followed by a short consolidation phase.
2. If price breaks beyond the range in any direction, a breakout signal is triggered:

• Breaks in the same direction → indicates a successful breakout.
  
• Breaks in the opposite direction → indicates a failed breakout or potential reversal.
  

Here’s an example of a successful breakout:

After a period of accumulation, price broke out to the upside – the same direction as the phase – indicating a successful breakout, and the indicator triggered a buy signal.

Another example for a failed breakout:

Price attempted to break above the accumulation range but quickly reversed, and the indicator triggered a sell signal.

This mode is ideal for traders who want to capture continuations and reversals alike.

📌 Customization

🔸 Mode: There are 2 modes:

• Same Direction Mode: Identify and signal breakout opportunities that align with the prevailing trend following a confirmed accumulation or distribution phase.
  
• Any Direction Mode: Detects both successful and failed breakout attempts after price consolidates in an accumulation or distribution range.
  

🔸 Period: Number of consecutive bullish/bearish candles.

For example:

• If you set the period to 5, the indicator will need to identify 5 consecutive bullish or bearish candles to form the range for Accumulation/Distribution.
  
• If you want to trade shorter-term and receive more signals, you can lower this value.
  

🔸 Qualifying Age (Bars): Minimum bars required for a valid range.

This defines how many candles are needed within the Accumulation/Distribution range for it to be considered valid.

🔸 Min High (Ticks): Minimum height (in ticks) for a series of bullish or bearish candles to be recognized as a price increase/decrease.

For example:

• If you set it to 10, the series must have a height of at least 10 ticks.
  
• If you want to receive more signals, values between 10 and 30 are recommended.
  

🔸 Signal Split Bars: This setting sets the minimum spacing between 2 signals in the same direction (reduces noise).