//@version=6
strategy("Strict fractal breakout", overlay = true,
  initial_capital = 10000, pyramiding = 0,
  default_qty_type = strategy.fixed,
  default_qty_value = 1,
  commission_type = strategy.commission.cash_per_order,
  commission_value = 1, slippage = 1,
  margin_long = 100, margin_short = 100)
teethFilter = input.bool(true, "Teeth filter")
buffer = input.float(0.05, "Price buffer", minval = 0.00001)
life = input.int(5, "Eligible entry bars", minval = 1)
teethRaw = ta.rma(hl2, 8)
teethHere = teethRaw[5]
teethAtCenter = teethRaw[7]
up = high[2] > high and high[2] > high[1] and
  high[2] > high[3] and high[2] > high[4]
down = low[2] < low and low[2] < low[1] and
  low[2] < low[3] and low[2] < low[4]
var float knownLow = na
var float knownHigh = na
var bool highEligible = false
var bool highUsed = false
var float entryPrice = na
var float stopPrice = na
var int submitted = na
var bool pending = false
justExited = ta.change(strategy.closedtrades) > 0
if barstate.isconfirmed
    if up
        knownHigh := high[2]
        highUsed := false
        highEligible := not teethFilter or
          (not na(teethAtCenter) and
          high[2] > teethAtCenter)
    if down
        knownLow := low[2]
    if strategy.position_size > 0
        pending := false
        if down
            stopPrice := math.max(stopPrice,
              knownLow - buffer)
        strategy.exit("X", "L", stop = stopPrice)
    if justExited
        pending := false
        strategy.cancel("L")
    if pending and strategy.position_size == 0
        expired = bar_index - submitted >= life
        if expired or close <= stopPrice
            strategy.cancel("L")
            strategy.cancel("X")
            pending := false
    valid = not na(knownHigh) and not na(knownLow)
    valid := valid and highEligible and not highUsed
    if valid and not pending and not justExited and
      strategy.position_size == 0
        entryPrice := knownHigh + buffer
        stopPrice := knownLow - buffer
        if entryPrice > close and stopPrice < close
            submitted := bar_index
            highUsed := true
            pending := true
            strategy.entry("L", strategy.long,
              stop = entryPrice)
            strategy.exit("X", "L", stop = stopPrice)
plot(teethHere, "Displayed Teeth", color.blue)
plot(pending ? entryPrice : na, "Pending buy stop",
  color.gray, style = plot.style_linebr)
plot(strategy.position_size > 0 ? stopPrice : na,
  "Protective stop", color.red, style = plot.style_linebr)