Breakout intensity
Latest close against the recent closing high, scaled by volume and typical moves; positive only at new highs.
BreakoutIntensity looks at the last window of one-minute closes and volumes. It takes how far above or below the highest earlier close in that window the latest close sits, then multiplies that percentage by the latest volume over the average earlier volume and by the average absolute one-minute move across the window. The high price input is read but never used, so the breakout is judged on closes, not on highs.
How to read it
- The line sits in its own pane and hugs zero: most values (5th to 95th percentile on SPY one-minute bars) fall between -0.0000004 and +0.00000001.
- Above zero, the latest close is a new high for the window. Below zero, it sits under the window high, and further below means a bigger gap.
- Large readings need both a real gap from the window high and a volume spike or fast one-minute moves.
What it outputs
- Breakout intensity
- Latest close's gap from the highest earlier close in the window, scaled by volume spike and average one-minute move. Positive only at a new window high.
Settings
- window
- How many recent bars the window spans. Longer makes the window high harder to beat and smooths the volatility average, so new highs are rarer and the line moves slower. Shorter reacts sooner. Below 2 it fails, because there are no earlier closes to compare.
Pitfalls
- It reads the high price input but never uses it, so the name suggests a high-based breakout that the code does not compute.
- Values are tiny at default settings, so the line looks flat; read its sign and turns, not its height.
- A window of 1 fails, because there are no earlier closes to compare the latest close with.