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Hourly Breakout Indicator (Breakout Panca Eagle)
I'm hoping someone here will be willing to alter the attached indicator or code a new one for me. The premise is fairly simple, and I'm hoping the coding will be as well, because I use this often in my trading. Currently I am using the Breakout Panca Eagle indicator which was originally designed to trade GBPJPY breakouts for a trading session such as the Asian. However, I do not use the indicator in that fashion. I use it to trade the break of an hourly candle. It is quite useful for finding breakout entries when other indicators agree.
Here is what the indicator should do:
1) Draw a box around the high and low of the previous 60 min. bar. Draw the breakout box 10 pips above and below the high and low. I like the way the Panca indicator looks, so that could stay identical, but it should calculate the range based on a single hourly candle, instead of by time. The indicator should reset at the open of each new hourly candle. I am able to help pinpoint entries by trading an hourly break on the 15 min. time frame.
Ideally the user could also choose the timeframe as well as the number of bars to look back when drawing the box, although hourly and "1" would be the defaults.
I have searched and found no indicator that does precisely what I'm seeking. Anyone that is willing to code it will have a very useful indicator and many thanks from me. My thanks could include a discount on my EA for anyone interested. (Please note I am a trader and not a programmer. My EA was designed by a professional programmer.)
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