Explosive breakout confirmation
Meant to flag explosive breakouts, but it never fires: its breakout test cannot pass on real bars.
ExplosiveBreakoutConfirmation returns True on a bar only when three things hold: the exponential averages of close over 3, 8, 21 and 50 bars are stacked upward, close is above the highest high of the last 5 bars, and close is above the highest high of the last 10 bars. Otherwise it returns None. Each high window includes the current bar, and a close cannot sit above its own bar's high, so both breakout checks are always false. The low input is never read, and the 20 bar high is computed but unused.
How to read it
- It is a signal, so it draws markers on candles only: no pane, no line, nothing under the price.
- A marker would appear where the 3, 8, 21 and 50 bar averages stack upward and close clears the last 5 and 10 bars' highs. Those breakout checks cannot pass, so the chart stays empty.
- An empty chart is the real output of the code, not a missing overlay or a quiet market.
What it outputs
- Confirmed breakout
- True when the 3, 8, 21 and 50 bar averages are stacked upward and close is above the last 5 and 10 bar highs. None otherwise, so nothing is drawn. Never true on the default SPY sample.
When it fires
Intended to fire when the four averages stack upward and close breaks above the last 5 and 10 bar highs. As written, the breakout check is false on every real bar, so it never fires. On a month of SPY one-minute bars (20,160 bars) it fired zero times.
Pitfalls
- Never fires on real bars: the 5 and 10 bar high windows include the current bar's high, and close cannot sit above it. Zero events on the default sample, so this is a code bug, not a market condition.
- The name and docstring say multi-timeframe, but all four averages use the same one-minute close. No higher timeframe is read, and the 20 bar high has no effect on the result.
- It has no parameters, so a trader cannot loosen it from the chart. Fixing it means changing the source.