The Forex Awesome Breakout indicator for Metatrader 4 draws a box around recent price action that can be used to trade powerful price breakouts in either direction.
The box breakout system is very easy to use, even for beginner traders.
It works best on the USD/JPY, GBP/USD, GBP/JPY and EUR/USD currency pairs.
Just try it!
The basic concept is very simple:
- A buy signal occurs when price breaks and closes above the high of the breakout box.
- A sell signal occurs when price breaks and closes below the low of the breakout box.
Feel free to experiment with the different box color settings.
The indicator works on all trading instruments (Forex, CFD stocks, Indices, Cryptocurrencies, Commodities,..).
Free Download
Download the “forex-breakout-box.ex4” indicator for MT4
Indicator Example Chart (EUR/USD M15)
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit method to trade with the Forex Awesome 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: Price breakout
Does the indicator repaint? No.
Download Now:
Download the “forex-breakout-box.ex4” indicator for Metatrader 4
How to install this indicator on Metatrader 4?
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the forex-breakout-box.ex4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.