The TOP Ultimate Breakout Forex indicator for Metatrader 4 is a complete trading system that comes with the entry, stop loss and 2 take profit targets.
The indicator appears in the main chart window and consists of the blue stop loss line, the white entry level line, and the yellow and purple colored take profit level lines.
The TOP Ultimate Breakout indicator is beginner-friendly and can be used by any trader.
Key Points
- Works for any time frame
- Displays the entry, stop, and 2 take profit
- Does not repaint the trading signals
- Well worth adding to your indicator collection
Free Download
Download the “TOP_Ultimate_Breakout.ex4” MT4 indicator
Indicator Example Chart
The EUR/USD 15-minute chart below shows the TOP Ultimate Breakout indicator in action.
Buy/Sell Trading Signals From the TOP Ultimate Indicator
BUY:
- A buy signal is given when the price is trading above the blue stop loss line and the white entry line appears on the chart.
- Place the stop loss below the blue stop loss line.
- Exit the buy trade at the yellow and purple colored take profit lines.
SELL:
- A sell signal is given when the price is trading below the blue stop loss line and the white entry line appears on the chart.
- Place the stop loss above the blue stop loss line.
- Exit the sell trade at the yellow and purple colored take profit lines.
Download Now
Download the “TOP_Ultimate_Breakout.ex4” MT4 indicator
Top Ultimate Breakout Strategy with RSI Confirmation
The Top Ultimate Breakout Indicator for MT4 is designed to identify key breakout zones where price is likely to accelerate.
To reduce false signals and improve trade accuracy, this strategy incorporates the RSI (Relative Strength Index) as a momentum confirmation tool.
Chart Setup
- Primary Indicator: Top Ultimate Breakout Indicator
- Confirmation Indicator: RSI (14)
- Timeframe: 15-minute (M15) or 1-hour (H1)
- Pairs: EUR/USD, GBP/USD, USD/JPY, and other major FX pairs
Buy Trade Conditions
- The price breaks above the resistance level plotted by the Top Ultimate Breakout Indicator.
- RSI is above 50 and trending upward, confirming bullish momentum.
- Enter a buy position at the candle close above the breakout level.
Sell Trade Conditions
- The price breaks below the support level plotted by the Top Ultimate Breakout Indicator.
- RSI is below 50 and sloping downward, confirming bearish momentum.
- Enter a sell position at the candle close below the breakout level.
Stop Loss and Take Profit
- Stop Loss: Set a few pips below the breakout level for buy trades or above it for sell trades.
- Take Profit: Use a 1:2 risk-to-reward ratio or exit at the next key support/resistance zone.
Additional Tips
- Use this strategy during high liquidity sessions, such as the London and New York overlap.
- Check for news events that may cause false breakouts.
- Consider adjusting RSI parameters for shorter or longer-term strategies.
Adjustable Parameters & Settings
Buy or sell, sell exit, display lines, price digits, alerts, colors, style
Technical Information
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: system
How to install the TOP Ultimate Breakout indicator in Metatrader 4?
- Copy and paste the TOP_Ultimate_Breakout.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
