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Quickfingers Luc’s Base Breaking Indicator & Strategy v2.5

From: $35.00 / month

Choose any of the following auto-renewing subscription plans for any of the version 2.x releases:

  • Monthly at $35/month
  • Every 3 months at $31.66/month
  • Every 6 months at $28.33/month
  • Yearly at $25/month

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The indicator is based on a popular price action strategy by Luc Thomas (Quickfingers Luc on YouTube 🡵).  His career in traditional markets led him to formulate a strategy that revolves around price action movements that reveal “bases”.  For instance, bases are price levels of support that have a significant, rapid price surge called “bounces”.  Once a base is revealed, Luc will reference the price level and create entry positions below the base.  Luc will monitor price action in anticipating of a base breakdown where price action rapidly drops below the base level.  The entries use a layering technique of dollar-cost averaging to place multiple limit orders at various price levels below the base.

Documentation

You can find the documentation here.  Also, we have a YouTube video that provides an overview of the indicator as well.

How do the versions compare?

This indicator has several releases in the version 2 series:

  1. Version 2.0: https://www.tradingview.com/script/xADlbY2U-Quickfingers-Luc-s-Base-Breaking-Indicator-v2/ 🡵
  2. Version 2.1: https://www.tradingview.com/script/rcD5obBp-Quickfingers-Luc-s-Base-Breaking-Indicator-v2-1/ 🡵
  3. Version 2.2: https://www.tradingview.com/script/ROlSJZKq-Quickfingers-Luc-s-Base-Breaking-Strategy-v2-2/ 🡵
  4. Version 2.3: https://www.tradingview.com/script/Ocx7ofZW-Quickfingers-Luc-s-Base-Breaking-Strategy-v2-3/ 🡵
  5. Version 2.4: https://www.tradingview.com/script/uo5LgrFb-Quickfingers-Luc-s-Base-Breaking-Strategy-v2-4-0/ 🡵
  6. Version 2.5: https://www.tradingview.com/script/9tumzHlX-Quickfingers-Luc-s-Base-Breaking-Strategy-v2-5-0/ 🡵

Below is a features table showing the significant changes introduced between the versions.

Feature2.02.12.22.32.42.5
Number of Bars for Drop/Bounce
Minimum Price Drop/Bounce %
Volume Confirmation
Percent Deviation for New Bases
Maximum Number of Cracks Allowed Per Base
Trade concludes at base
9 DCA Layers with layer crossing shapes
Fractal pattern recognition algorithm changed to pivotlow() function
Option to anchor base price to low or low(open, close)
Option to define maximum number of bars to remain in trade
Options to showing layer lines never, always, or only when in trade
Lookback period settings
Renamed “Median Drop” and “Median Bounce” to “Mean Drop” and “Mean Bounce”
New “Mean Bars in Trade” data point to the data window
New strategy version of the indicator
Improved script performance
New options to define a take profit percentage and exchange commissions
New Take Profit plot line
New Next Base plot line
New “Activate Take Profit After This Layer Is Cracked” setting
New “Activate Break Even After This Layer Is Cracked” setting
New “Stop Loss Percentage After Last Layer” setting
New “Any Layer Cracked”, “Any Layer Respected”, “Base or Any Layer Cracked”,
“Base or Any Layer Respected”, and “Next Base Created” alerts
New “Start Hour” and “Start Minute” inputs to look back period
Fractal pattern recognition algorithm changed to ignore the high price of the pivot low bar
Added “Adjust Take Profit At Layer # Cross” inputs
Removed “Activate Take Profit After This Layer Is Cracked” and
“Activate Break Even After This Layer Is Cracked” inputs
Removed “Exchange Buy Commission” and “Exchange Sell Commission” inputs
Added Stop Loss Percentage with plot line
Added “Stop Loss Crossed” and “Take Profit Crossed” alerts
Added “Entry Position Size” and “Position Size Multiplier” inputs
Converted script to version 4 of Pine Script
Added “Override Minimum Tick Precision” and
“Method To Adjust Prices To Minimum Tick Precision” inputs
Added a new “STATISTICS” label at the last bar to show numerous statistics
Changed default values
Removed the use of “barstate.isconfirmed” to avoid TradingView repaint warning when creating alerts.
Removed alerts due to number of objects on chart limitation: “Next Base Created”,
“Any Layer Cracked”, “Any Layer Respected”, “Base or Any Layer Cracked”,
and “Base or Any Layer Respected”
Replaced “Start Year/Month/Day/Hour/Minute” with the new single date/time input
called “Trade Start Date/Time”
Adding “Statistics Label Number Of Bars Offset” input
Added “Enable Trade Eligibility Condition” inputs
Added “Background Color”, “Text Size”, and “Text Color” inputs for Statistic Label styling
Replaced the “Layer # Cross” plot shapes with label objects

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