Daily Pivot Breakout Strategy Indicator

Tagline:
A pivot-based breakout system that identifies confirmed daily breakouts with momentum and volume filters, with precise entry timing across all timeframes.
How It Works:
This indicator detects strict pivot high breakouts on daily data, filtered by Rate of Change (ROC ≥30%) and Relative Volume (RVOL >1). It displays both the breakout confirmation signal and the next-day entry signal directly on your chart, regardless of timeframe.
Visual Signals:

• Orange Pivot Line: The most recent confirmed pivot high (within 250-day lookback)
  
• Day-0 Label (Teal): Appears on the breakout confirmation day (when price closes above daily pivot with filters met)
  
• Entry Banner (Green): Appears on the next trading day at market open - your actual entry point
  

Cross-Timeframe Consistency:

• Daily Chart: View the big picture - Day-0 on breakout bar, Entry on next bar
  
• Any Timeframe: Logic remains consistent to daily pivots and data, signals adapt to show at the correct time
  

Built-in Alert Conditions:

• 5PivotBreakout_Scan (Day-0): Fires when breakout is confirmed. Use this for after-hours scanning to build watchlists of confirmed breakouts
  
• 5PivotBreakout_Strategy (Next): Fires at market open the next day. Use this to automate entries on confirmed breakouts
  

Typical Workflow:

• Set up Day-0 alerts on your watchlist to catch breakouts as they happen
  
• Review confirmed breakouts each evening
  
• Set up Entry alerts on selected tickers to automate next-day execution (fires at market open)
  
• Optional: Convert to strategy() for backtesting with custom exits (20% trail is good)
  

Key Features:

• Strict pivot detection: No ties allowed - center must be highest point
  
• Momentum filter: 100-day ROC ensures trending strength
  
• Volume confirmation: 20-day RVOL validates participation
  
• No repainting: Uses lookahead_off for realistic, tradeable signals
  

Customizable Inputs:

• Pivot strength parameters (left/right bars)
  
• Pivot lookback period
  
• ROC period and minimum threshold
  
• RVOL period
  
• Toggle visibility of pivot line and labels
  

Note: This indicator is for educational purposes only and does not constitute financial advice. Past performance does not guarantee future results. Always test thoroughly before live trading.