1-Minute Breakout Pine Indicator

The task is to code a lightweight Pine Script v5 indicator that flags breakout events on a 1-minute chart. A breakout, for this purpose, occurs whenever price closes beyond the most recent high or low over a user-defined look-back window. No other triggers are required.

Core logic
• Continuously track the highest high and lowest low over an adjustable number of prior candles (default to 20; make it an input).
• The moment price breaches either extreme on a closing basis, paint a clear on-chart marker (arrow or label) and optionally change bar colour.
• Generate a native TradingView alert condition so I can route push, email or webhook notifications.

Parameter controls
• Look-back length (integer).
• Separate colour selections for bullish and bearish breakouts.
• Toggle for bar-background or label-only display.

Deliverables
1. A single, well-commented .pinescript file compatible with Pine Script v5.
2. A brief note explaining how to add the indicator, configure the inputs and create alerts.
3. Confirmation that the script runs without errors on live 1-minute BTCUSD and ES futures charts.

Acceptance criteria
• Breakout markers appear precisely on the candle that closes beyond the chosen high/low range.
• No repainting once a candle has closed.
• Script executes in real-time without exceeding TradingView’s 40 ms soft limit.

That’s all that’s needed—no strategy tester logic, order execution, or additional filters.