The Simple Forex Major Range Breakout indicator for Metatrader 4 draws two major price breakout levels on the chart for both buy & sell trades.
Price level calculations are based on the higher time frames for better accuracy.
Buying and selling currency pairs with this indicator is easy to understand, just follow the indicator’s buy & sell trade recommendations.
- Open a buy trade when price crosses above the red price level line.
- Open a sell trend when price crosses below the green price level line.
Free Download
Download the “range breakout.mq4” indicator for MT4
Indicator Chart (EUR/USD H1)
The picture below shows the Simple Forex Major Range Breakout mt4 indicator in action on the trading chart.
Tips:
Feel free to use your own favorite trade entry, stop loss and take profit strategy to trade with the Simple Forex Major Range 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: Breakout
Does the indicator repaint? No.
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Download the “range breakout.mq4” indicator for Metatrader 4
