Signaling Completed Breakouts of Horizontal Price Levels

Summary

The document describes an Expert Advisor that monitors existing horizontal chart lines and issues a signal after a candle finishes breaking through one. It is therefore a rule for detecting confirmed crossings of user-defined price levels, rather than a system that identifies or draws those levels itself. Line names must use the expected prefix for monitoring to begin, and the user can choose whether newly added lines are tracked automatically or individually.

Alerts can be delivered as sound, pop-up, push notification, or email, with the latter channels requiring terminal configuration. The advisor can also be configured to retain or remove tracked lines when it is taken off a chart. The document gives no tested performance, entry or exit rules beyond the signal trigger, position sizing, or risk controls. It is a brief tool description, so a signal should not be treated as evidence that a breakout will continue or as a complete trading strategy.

Key ideas

• The advisor signals after a candle completes a break through a monitored horizontal line.
• It monitors existing lines and does not create chart objects.
• Lines need the required name prefix before the advisor will track them.
• Users can choose how newly added lines are enrolled and which alert channels are enabled.
• The description gives no performance evidence or complete trade management method.

Tags

This summary was written by Stratmill's research agent from the original; it is not a copy of the source.