Clarix 5m Scalping Breakout Strategy

The Clarix 5m Scalping Breakout Strategy indicator is a specialized scalping tool designed to identify and capture rapid 3-5 pip price movements on the 5-minute timeframe using a combination of range breakouts and premium/discount market filters.

Usage

The script is primarily intended for use on the 5-minute timeframe to capture quick breakouts. It operates on a cycle that tracks the high and low of a 15-minute range (the first three 5-minute candles from a specified start time). Once the range is established, the indicator monitors the subsequent three candles for a breakout.

• Buy Signals: Occur when price breaks above the 15-minute high, provided the price is currently in a "Discount" zone or below the equilibrium range.
• Sell Signals: Occur when price breaks below the 15-minute low, provided the price is currently in a "Premium" zone or above the equilibrium range.

Users should aim for small, fast targets (typically 3-5 pips). The indicator includes a built-in backtest tracker that displays a table of recent trade results and a summary of the win rate to help evaluate performance under current market conditions.

Details

The indicator utilizes a 30-minute cycle divided into six 5-minute intervals. The first 15 minutes (3 bars) are used for "Accumulation" to define the high/low boundaries. The following 15 minutes (3 bars) are the "Execution" window where breakout signals are generated.

To filter out low-probability trades, the tool calculates Premium, Discount, and Equilibrium zones based on the highest high and lowest low of the last 500 bars. This ensures that breakouts are only taken when the price is relatively overextended in the opposite direction (e.g., buying a high breakout only if the general context is "cheap" or "discounted").

Settings

Strategy Settings

• Take Profit (pips): Sets the target distance for the simulated trade exit in pips.
• Stop Loss (pips): Sets the risk distance for the simulated trade exit in pips.
• Start Hour (GMT+3): Defines the hour at which the daily cycle monitoring begins.
• Start Minute (GMT+3): Defines the minute at which the daily cycle monitoring begins.

Visual Settings

• Show Premium/Discount Zones: Toggles the visibility of the background price zones.
• Premium Zone Color: Adjusts the color for the overbought/high-price area.
• Discount Zone Color: Adjusts the color for the oversold/low-price area.
• Equilibrium Zone Color: Adjusts the color for the median price area.
• Show Table: Toggles the visibility of the detailed recent trades table.

FAQ

How do I use the Clarix 5m Scalping Breakout Strategy?

Ensure your chart is set to the 5-minute timeframe and configure the start time to align with your preferred trading session. Look for triangle signals that appear when price breaks the initial 15-minute range while within a favorable value zone.

What are Premium and Discount zones?

These zones represent the relative price level over a 500-bar lookback. A Buy signal is only valid if the breakout occurs while the price is in a Discount zone, ensuring you aren't "buying the top" of a larger move.

How can I access this indicator?

You can get access on the LuxAlgo Library for charting platforms like TradingView, MetaTrader (MT4/MT5), and NinjaTrader for free.