Simple Trade Breakout Forex Indicator For MT5

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 how the Simple Trade Breakout indicator looks like when applied to the MT5 charting platform.

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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!

How Do I Edit This Indicator?

  • Click in the open chart with your right mouse button
  • In the dropdown menu, click on Indicator List
  • Select the indicator and click on properties
  • Now you can edit the inputs, colors, levels, scale and visualization
  • Finally click the OK button to save the new configuration