Supreme BUY/SELL Signal Indicator By Chaitu50cSupreme Buy/Sell Signals Indicator By Chaitu50c
Overview
The Supreme Buy/Sell Signals Indicator is a structured price-action based breakout system designed to detect strong consecutive momentum moves within the same trading session. The indicator focuses on clean candle structure and breakout confirmation rather than oscillators or lagging calculations. It is built to identify continuation strength after two consecutive candles in the same direction, followed by a confirmed breakout beyond the previous candle’s extreme. The logic is simple, rule-based, and non-repainting because signals are confirmed only after candle close.
This tool is ideal for intraday traders who prefer structure-based entries and want clear, controlled signal behavior without noise.
Core Signal Logic
The indicator detects bullish signals when two consecutive bullish candles form and the current candle closes above the previous candle’s high. This confirms bullish continuation strength and prints a Buy signal.
Similarly, a bearish signal is generated when two consecutive bearish candles form and the current candle closes below the previous candle’s low, confirming downside continuation strength.
Signals are only generated after the candle closes, ensuring no repainting during live bars. Additionally, signals are restricted within the same trading day. At the start of a new session, the internal state resets to prevent carryover signals from the previous day.
Single Signal Mode
The “Single Signal Until Opposite Forms” option controls whether the indicator allows consecutive signals in the same direction. When enabled, once a Buy signal is generated, no additional Buy signals will appear until a valid Sell signal forms. This prevents repetitive entries in strong trends and keeps the chart clean.
When disabled, the indicator will generate every valid breakout signal, even if multiple signals occur in the same direction.
This setting is particularly useful for traders who prefer one clean setup per move rather than multiple re-entries.
Body Breakout Unlock Mode
The “Require Body Breakout to Unlock” option introduces a structured reset mechanism. After a signal is generated, the direction becomes temporarily locked. A new signal of the same direction cannot form unless price proves invalidation by closing its body beyond the extreme of the previous signal candle.
For example, after a Buy signal, if a bearish candle closes below the low of the signal candle, the system unlocks. Only then can another Buy signal form later. This ensures that repeated signals only occur after meaningful structural invalidation.
If disabled, signals can occur again without requiring this structural reset.
This mode is designed to improve discipline and reduce signal clustering.
Stop Loss Line Logic
When enabled, the indicator automatically draws a dynamic Stop Loss line at the extreme of the signal candle. For Buy signals, the stop loss is placed at the signal candle’s low. For Sell signals, it is placed at the signal candle’s high.
The Stop Loss line extends forward bar by bar until a candle closes beyond it. Once price closes past the stop level, the line stops extending, indicating that the stop has been hit.
Users can customize the stop loss line’s color, style (solid, dashed, dotted), and width. This feature helps traders visually track trade risk and understand when a setup becomes invalid.
Display Options
The “Show Buy/Sell Signals” toggle controls whether Buy and Sell labels appear on the chart. These labels can be customized in color for both bullish and bearish signals, as well as text color for better chart visibility.
The “Show Bar Colors” option highlights the signal candle itself using user-defined bullish or bearish paint colors. This visually emphasizes the exact breakout candle responsible for the signal.
Both display options are fully optional and allow traders to keep the chart either minimal or visually descriptive.
Session Behavior
The indicator resets automatically at the beginning of each new trading day. This ensures that signals, locks, and stop loss tracking do not carry over into the next session. The logic is designed specifically for intraday use where daily session separation is important.
Alerts
Built-in alert conditions are included for both Buy and Sell signals. Traders can create TradingView alerts directly from the indicator to receive notifications whenever a valid consecutive breakout occurs.
Practical Use Cases
This indicator is particularly effective in trending intraday environments where momentum continuation setups perform well. It can be used for breakout trading, pullback continuation entries, and structured momentum strategies.
Traders may combine it with higher timeframe bias, support and resistance levels, or volume confirmation to filter trades further. It works especially well when aligned with broader market structure.
Testing & Optimization
This indicator has been personally tested on the NIFTY chart using the 5-minute timeframe. The logic performed effectively in capturing structured intraday continuation moves within active market sessions. However, traders are encouraged to test and optimize it according to their own strategy and risk management rules before live deployment.
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