Price & Volume Breakout Fibonacci Probability [TradeDots]📝 OVERVIEW
The "Price & Volume Breakout Fibonacci Probability" indicator is designed to detect the probability of the maximum run-up and drawdown of each breakout trade on an asset, assisting traders in optimizing their take profit and stop loss strategies.
🧮 CALCULATIONS
The algorithm detects price and volume breakouts to activate the Fibonacci levels displayed on the chart. It calculates these levels using the period pivot high and low, with the close price of the breakout bar as the ref
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