OPEN-SOURCE SCRIPT
5-Min First Candle Breakout/Breakdown
Awesome! Here's a basic Pine Script (v5) for a First 5-minute candle breakout/breakdown strategy with Buy/Sell signals and price labels. This script works by capturing the high and low of the first candle of the session and then showing signals when those levels are broken.
You can customize it further for Entry, Stop Loss, Target, etc., but this gives you the foundation with labels for buys/sells based on breakout/breakdown.
You can customize it further for Entry, Stop Loss, Target, etc., but this gives you the foundation with labels for buys/sells based on breakout/breakdown.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Open-source script
In true TradingView spirit, the creator of this script has made it open-source, so that traders can review and verify its functionality. Kudos to the author! While you can use it for free, remember that republishing the code is subject to our House Rules.
For quick access on a chart, add this script to your favorites — learn more here.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.