The Simple Trade Breakout indicator for Metatrader 5 uses a special trading method for identifying possible Forex breakouts that frequently occur after range trading.
Trade logic used for breakout trading:
- When the sea-green line ascends and reaches the zero mark, it indicates a bullish breakout from the local high.
- Conversely, when the red line descends and hits the zero mark, it signifies a bearish breakout from the local low.
- The magnitude of the gap from the zero level corresponds to the likelihood of the breakout; a larger gap implies a lower probability of the breakout occurring.
You have the flexibility to customize the following indicator inputs and parameters: period, price calculation.
Tip: You can combine the Simple Trade Breakout indicator with other technical analysis tools and various techniques to increase the probability of successful Forex trades.
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tradebreakout.mq5 Indicator (MT5)
Chart Example
The picture below shows what the Simple Trade Breakout indicator looks like when applied to the MT5 charting platform.
Breakout Confirmation with Super Trend Hybrid Trading Strategy For MT5
This strategy combines the breakout signals from the Simple Trade Breakout Forex Indicator with the trend filtering power of the Super Trend Hybrid Indicator.
It aims to capture strong breakout moves confirmed by an established trend, reducing false breakouts.
Indicators Used
- Simple Trade Breakout Forex Indicator: Identifies price breakouts from consolidation or key levels.
- Super Trend Hybrid Indicator: Combines multiple trend-following methods to smooth price action and confirm trend direction.
Timeframes
Best used on M15, M30, and H1 charts for intraday breakout trading.
Buy Entry Rules
- The Simple Trade Breakout indicator signals a bullish breakout above resistance or consolidation.
- The Super Trend Hybrid indicator confirms an uptrend (e.g., price above the hybrid trend line or green signal).
- Enter a long trade on the close of the breakout candle.
- Place a stop-loss below the breakout level or recent swing low.
- Set a take profit at the next resistance level or use a risk-reward ratio of 1.5 to 2.
Sell Entry Rules
- The Simple Trade Breakout indicator signals a bearish breakout below support or consolidation.
- The Super Trend Hybrid indicator confirms a downtrend (e.g., price below the hybrid trend line or red signal).
- Enter a short trade on the close of the breakout candle.
- Set stop-loss above the breakout level or recent swing high.
- Target the next support level or use a fixed reward-to-risk ratio.
Strategy Tips
- Wait for both breakout and trend confirmation signals before entering trades.
- Avoid trading during sideways market conditions or when signals conflict.
- Consider a higher timeframe trend direction for additional confirmation.
Conclusion
By combining the breakout detection from the Simple Trade Breakout Forex Indicator with the trend validation from the Super Trend Hybrid Indicator, traders gain a powerful tool for entering high-probability breakout trades aligned with market momentum.
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tradebreakout.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the tradebreakout.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
