Today I am here with a new idea and script, "LTB Circles". The idea is to create Circles using last 2 waves and to catch the breakouts earlier than horizontal lines. if a circle is broken then the script shows entry for Long/Short positions. and if broken circle reappears again then the position is closed. You can change period as you wish and see the different results.
Here you can see how the script calculates and draws the Circles:
Below you can see how the script draws part of the circle on each bar:
Optionally the script can show levels:
P.S. I haven't tested it as a strategy, Result and Performance may change by period, you need to find best period according to your strategy. By the way, my Circles idea can be improved, if you have any recommendation let me know please ;)
In true TradingView spirit, the author of this script has published it open-source, so traders can understand and verify it. Cheers to the author! You may use it for free, but reuse of this code in a publication is governed by House Rules. You can favorite it to use it on a chart.