Trb breakout down event
Close falls below the lowest low of the prior k bars, a breakdown of the recent range.
For each bar, the rule takes the lowest low over the last k bars, not counting the current bar, as the floor of the recent range. It marks a bar when the close is under that floor, moved by band: at band 0 the close must be below the floor itself, a positive band demands a deeper break, and a negative band moves the threshold above the low so the rule fires before the close reaches it. The test is per bar with no memory of earlier breaks, so every bar that closes under the floor is marked.
How to read it
- Markers sit on the candles, not in a pane: each one is a bar that closed under the recent range floor.
- A run of markers on consecutive candles is one continuing drop below the floor, not a fresh signal on each candle.
- No markers means the close has held above the lowest low of the last k bars.
What it outputs
- Breakdown below range
- True on each bar whose close is under the lowest low of the prior k bars, moved by band. False on all other bars.
When it fires
On each bar whose close is under the lowest low of the prior k bars, moved by band. Consecutive markers form one continuing break, showing price has dropped below the recent range floor. It does not say whether the drop continues. On the default SPY sample it marked about 4% of bars.
Settings
- k
- Bars in the look-back window that sets the floor. Raising it lowers the floor to a deeper low, so fewer bars break it; lowering it puts the floor near recent lows, so markers come more often and react to short noise.
- band
- Cushion below the floor, as a fraction of its price (0.001 is 0.1%, under a dollar on SPY near 765). Raising it needs a deeper break and marks fewer bars; at 1 it never fires. Negative values mark more bars; at -1 it marks almost every bar.
Pitfalls
- The name says event, but the test is per bar: every candle that closes under the floor is marked, so one breakdown can mark a run of candles.
- The floor is the single lowest low in the window, so one deep wick keeps the floor low and breaks stay rare until that bar leaves the window k bars later.
- With defaults it marked about 4% of SPY one-minute bars, roughly 26 events a day in September 2026, so it is frequent and does not confirm a trend on its own.