The Super Forex Breakout indicator for Metatrader 5 draws a support/resistance channel in the chart based on your own preferred trading hours.
You can input your own preferred trading hours and even minutes.
Based on that information, the indicator will analyze the price date and then create the best possible support and resistance-based channel on the price chart.
Basics of the breakout indicator:
- A candle close above the upper resistance line will create a buy signal.
- A candle close below the lower support line will create s sell signal.
The following indicator inputs and parameters can be fully adjusted: period hour begin, period minutes begin, period hour end, period minutes end, area hour end, area minutes end.
Please make yourself familiar with this technical indicator and test it first on a demo account for an extended period.
It works for any currency pair (majors, minors, exotics) and time frame.
Free Download
Chart Example
The following chart shows how the Super Breakout indicator looks when applied to the MT5 chart.
How To Buy And Sell Currency Pairs With The Super Breakout Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal occurs when the candle has closed above the upper super breakout indicator channel line.
- Execute a buy order and place a stop loss slightly below the most recent swing low zone.
- Take profit at key resistance levels, or utilize a fixed take profit target of your own preference.
Sell Signal
- A sell signal occurs when the candle has closed below the lower super breakout indicator channel line.
- Execute a sell order and place a stop loss slightly above the most recent swing high zone.
- Take profit at key support levels, or utilize a fixed take profit target of your own preference.
