Higher timeframe breakout

[martymoon120]

Hi all, Just from a high level view, how would I go about filtering (on the 1m chart) for trades only when a recent swing level has been broken, i.e. looking left at what will be a recent 5m or 15m high....?

I don't want it to be a function of, say, the last 15 1m candles, I want it to be the actual 5m or 15m highs.

Thanks for any input.

[martymoon120]

Any ideas on this, I have tried this but I keep getting no trades... Is using 'candle' versus 'market properties - highest price (candles period) the right way to do it? Are my settings incorrect?


[martymoon120]

Ah I know why I'm getting no trades, my flow thereafter is to detect a pullback, so I'm asking whether price has broken the last 15 candles and then waiting for a pullback - when obviously price is no longer above the breakoout point. Anyone got any examples of the block sequence for a break and re-test, therefore?

[l'andorrà]

You need variables for sure. One variable for detecting the break and the second for the retest conditions.

[martymoon120]

Thanks l andorra. You mean a variable like a switch? i.e. a constant boolean 'breakOut_occured' yes/no and adjust this variable when my breakout condition is passed?

[l'andorrà]

Exactly.