The Fractals Trend Line Breakout indicator for mt4 draws two powerful support & resistance breakout trend lines on the main chart.
The indicator pops up in the main MT4 chart window as a green & red colored breakout line.
The green breakout line acts as resistance while the red breakout line acts as support.
The Fractals Trend Line Breakout indicator can be traded in multiple ways.
Buy & Sell Trade Example
- Open a buy trade as soon as price closes above the green Fractal trend line (resistance break).
- Open a sell trade as soon as price closes below the red Fractal trend line (support break).
The Fractals Trend Line Breakout indicator can be used for both trade entry and exit, or as an additional confirmation filter for other strategies and systems.
The indicator works equally well on all currency pairs (majors, minors and exotic) and shows promising results if used correctly.
Free Download
Download the “fractals-adjustable-period-trend-lines.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The example chart below displays the Fractals Trend Line Breakout mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Fractals Trend Line Breakout indicator.
As always, trade in agreement with the overall trend and practice on a demo account first until you fully understand this indicator.
Please note that even the best trading indicator cannot yield a 100% win rate over long periods.
Indicator Specifications & Inputs:
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Trade Style: Works for scalping, day trading and swing trading
Input Parameters: Variable (inputs tab), color settings & style
Indicator type: Fractal
Does the indicator repaint? No.
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Download the “fractals-adjustable-period-trend-lines.mq4” indicator for Metatrader 4
