HTF Swing Compression Breakout

This indicator identifies higher-timeframe (HTF) swing structure and highlights close-based breakouts that occur after structural compression.

HTF swing highs and lows are calculated using pivot points from a user-defined higher timeframe. When the distance between the most recent HTF swing high and swing low contracts below a configurable threshold, the structure is considered compressed.

Once compression is present, the script monitors for price closing outside of the HTF structure:

A close above the HTF swing high marks an upside breakout

A close below the HTF swing low marks a downside breakout

To reduce repeated signals, only one breakout per direction is allowed until price closes back inside the HTF range, at which point the state resets.

Key features:

Higher-timeframe swing high / low detection

Compression logic based on absolute swing distance

Close-only breakout confirmation

Directional state control to prevent duplicate signals

Optional visual swing structure plotting

Optional alert conditions

This script is intended as a structural analysis and alerting tool. It does not include risk management, position sizing, or trade execution logic.