Breakout Range Signal with Quality Analysis [Dova Lazarus]

📌 Breakout Range Signal with Quality Analysis [Dova Lazarus]
🎓 Training-focused indicator for breakout logic, SL & TP behavior and signal quality assessment

🔷 PURPOSE
This tool identifies breakout candles from a calculated channel range and visually simulates entries, stop losses, and take profits, providing live and historical performance metrics.

⚙️ MAIN SETTINGS

1️⃣ Channel Setup

channel_length = 10 → how many candles are averaged to form channel boundaries

channel_multiplier = 0.0 → adds expansion above/below the base channel

channel_smoothing_type = SMA → smoothing method for high/low averaging

📊 The channel consists of two moving averages: one from highs, the other from lows. When expanded (via multiplier), it creates a buffer range for breakout validation.

2️⃣ Signal Detection

Body > Channel % = 50 → a breakout candle's body must exceed 150% of the channel width

Signal Mode:
 • Weak → every valid breakout candle is highlighted
 • Strong → only the first signal in a sequence is shown (helps reduce noise)

🟦 Bullish signals (blue):
 • Candle opens inside the channel
 • Closes above the channel
 • Body is large enough
 • Optional: confirms with trend (if enabled)

🟨 Bearish signals (yellow):
 • Candle opens inside the channel
 • Closes below the channel
 • Body is large enough
 • Optional: confirms with trend

3️⃣ Trend Filter (optional)

Enabled via checkbox

Uses a higher timeframe MA to filter signals

Bullish signals are allowed only if price is below the trend MA

Bearish signals only if price is above it

⏱️ trend_timeframe = 1D (typically set higher than the chart's timeframe)
🟢 Trend line is plotted if enabled

🎯 ENTRY, STOP LOSS & TAKE PROFIT LOGIC

SL and TP are based on channel width, not fixed pip/tick size:

📍 Entry Price = close of the breakout candle

🛑 Stop Loss:
 • Bullish → below the lower channel border (minus offset)
 • Bearish → above the upper channel border (plus offset)

🎯 Take Profit:
 • Bullish → entry + channel width × profit multiplier
 • Bearish → entry − channel width × profit multiplier

You can control:

Profit Target Multiplier (e.g., 1.0 → TP = 1×channel width)

Stop Loss Target Multiplier (e.g., 0.5 → SL = 0.5×channel width)

Signals to Show = how many historical SL/TP setups to display

📈 Lines and labels ("TP", "SL") are drawn on the chart for clarity.

🧪 QUALITY ANALYSIS MODULE

If enabled, the indicator will:

Track each new signal (entry, SL, TP)

Analyze outcomes:
 • Win = TP hit before SL
 • Loss = SL hit before TP
 • Expired = signal unresolved after N bars

Display statistics in a table (top-right corner):

📋 Table fields:

✅ Overall win rate

📈 Bullish win rate

📉 Bearish win rate

🔢 Total signals

🕓 Pending (still active trades)

Maximum bars to wait for outcome is customizable (max_bars_to_analyze).

📐 VISUALIZATION TOOLS

TP / SL lines per signal

Labels “TP” and “SL”

Optional channel lines and trendline for better context

Colored bars for valid signals (blue/yellow)

📌 BEST USE CASES

Understand how breakout signals are formed

Learn SL/TP logic based on dynamic range

Test how volatility affects trade outcomes

Use as a visual simulation of trade behavior over time