prosum_solutions

Quickfingers Luc's Base Breaking Indicator v2

Overview of Features

This indicator attempts to implement Quickfingers Luc’s (QFL) Base Breaking trading methodology(1). It will monitor the chart price action and identify bases as they form and provide alert notifications for when bases and/or layers are cracked and respected.

This indicator is designed to locate pivot patterns and validate them to ensure they qualify as valid bases according to QFL’s trading principles by analyzing the percent price drop/bounce, volume and other settings to help you customize it to your chart. It will switch to new bases as they are identified and validated, thus there's the potential for bases to not be respected because it has switched to a new base.

It supports up to nine (9) layers with crack and respected alerts with chart X-Cross shapes to help you visualize the events.

Lastly, the indicator creates additional data points that are viewable in the data window panel, displaying the following metrics:
  • Bases Created
  • Bases Cracked
  • Bases Respected
  • Success Rate %
  • Median Drop %
  • Median Bounces %

Usage Information

The indicator can be applied to any chart at any time frame, but QFL principles advise to use at least 1 hour resolution for best results.

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Version/Release Information

This indicator is version 2 and is a re-write of the previous release

New features in the next release will include:
  • Defect fixes as they are identified
  • Multiple bases at the same-time, in order to improve respected base detection when switching to new bases
  • Any new features proposed by the user community

References

1. Luc , Quickfingers. (2016, July). “Quickfingers Luc , Some people love gardening, not me, I grow money (trading)” . Retrieved from https://steemit.com/@quickfingersluc

Invite-only script

Access to this script is restricted to users authorized by the author and usually requires payment. You can add it to your favorites, but you will only be able to use it after requesting permission and obtaining it from its author. Contact prosum_solutions for more information, or follow the author's instructions below.

TradingView does not suggest paying for a script and using it unless you 100% trust its author and understand how the script works. In many cases you can find a good open-source alternative for free in our Community Scripts.

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