Compound Breakout Tool

For first time users Allison has a quick video explaining the Compound Breakout Tool. 

How to read the tool: 

The Compound Breakout Tool is a "3 in 1 study". It tracks individual "component studies" and indicates when they're in confluence to provide a very strong indication of a possible entry or exit for a trade.

The CBT's middle three rows represent each of the tools components. 

When there is a breakout box on each row, a Breakout confirmation triangle will display at the top or bottom of the indicator as shown here. The breakout confirmation is a "conservative" indication for a possible entry.

These dots mean there is an indication for a possible "less conservative" entry.
These secondary breakout confirmation dots will display if at least 2 of the three components of the three components of the CBT are in agreement.

These are "breakout boxes". A breakout boxes means that this component of the CBT has "fired".
The dots will continue to display after the breakout box for each new bar as long as the breakout box stays valid.

A group of breakout boxes indicates consolidation.

No dots means no trade in that direction.
For example, there is a green breakout box that has invalidated the prior short signal. No dots means no valid entry, at least no valid short in this case.

How to adjust the dots on the compound breakout tool in TradeStation
https://intercom.help/simpler-trading/en/articles/3341520

About - TrueLows

https://intercom.help/simpler-trading/en/articles/5989289

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