The Daily Breakout MT4 forex indicator displays 2 interesting lines on the chart: the previous day high price line and the previous day low price line.
This is a great indicator if you like to trade daily price breakout signals.
You can apply this simple technique to any currency pair.
Free Download
Download the “daily-breakout.mq4” MT4 indicator
Indicator Chart (EUR/USD D1)
The EUR/USD D1 chart below displays the Daily Breakout forex indicator in action.
Basic Trading Signals
Signals from the Daily Breakout MT4 indicator are easy to interpret and goes as follows:
Buy Signal: Open buy position when price rises about the previous day high price.
Sell Signal: Open sell position when price falls below the previous day low price.
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Download the “daily-breakout.mq4” Metatrader 4 indicator
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (Alerts, GMTShift, SupportColor, ResistanceColor) Colors, width & Style.
Time frames: 1-Hour, 4-Hours, 1-Day
Type: Price line
