Indicators
Breakout Probability

Breakout Probability Trading Indicator - Zeiierman Trading

By
Zeiierman
on
May 28, 2024

Share this article

The indicator calculates the probability of a new high or low and displays it as a level perfectly on your chart. This indicator is hugely useful for all kinds of Traders!

Breakout Probability (Expo) is a valuable indicator that calculates the probability of a new high or low and displays it as a level with its percentage. The probability of a new high and low is backtested, and the results are shown in a table— a simple way to understand the next candle's likelihood of a new high or low. In addition, the indicator displays an additional four levels above and under the candle with the probability of hitting these levels.The indicator helps traders to understand the likelihood of the next candle's direction, which can be used to set your trading bias.The algorithm calculates all the green and red candles separately depending on whether the previous candle was red or green and assigns scores if one or more lines were reached. The algorithm then calculates how many candles reached those levels in history and displays it as a percentage value on each line.

What is Breakout Probability?

Breakout Probability is a powerful free indicator on TradingView that helps traders to understand the likelihood of the next market direction. This insight is super useful! Traders get an instant understanding of the next move and can act accordingly.

How to Use The Breakout Probability Indicator?

We at Zeiierman Trading have seen tons of creative and unique ways to take advantage of this amazing indicator. One way is to use the indicator to set your Trading bias. Let's say that you analyze the higher timeframe, the daily chart, and you have a 70% probability of a bullish move, then it makes sense to only look for long trades in lower timeframes. Use it together with our False Breakout Indicator to confirm that a false breakout is valid!To get you started using this indicator we have created a FREE Course that is gradually updated with new cool trading setups.

This indicator is one of the most popular ones on TradingView! It was the number 1 trending script for weeks! Check this out!https://youtu.be/VATY8RNbjmU

Make sure to favorite mark and BOOST the indicator to get instant access

https://www.youtube.com/watch?v=o0CfQv9ii_o

Subscribe to our membership

TRY IT YOURSELF!

Access the Breakout Probability Indicator on TradingView

ACCESS THE INDICATOR ON TRADINGVIEW!"Boost" the script and add it to your Favorites and you will be able to access the script for free! WOW! Please leave a comment if you like it!

Heading 1

Heading 2

Heading 3

Heading 4

Heading 5
Heading 6

Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam, quis nostrud exercitation ullamco laboris nisi ut aliquip ex ea commodo consequat. Duis aute irure dolor in reprehenderit in voluptate velit esse cillum dolore eu fugiat nulla pariatur.

Block quote

Ordered list

  1. Item 1
  2. Item 2
  3. Item 3

Unordered list

  • Item A
  • Item B
  • Item C

Text link

Bold text

Emphasis

Superscript

Subscript

Subscribe to our membership