It is created as an alternative to MA to determine trend direction and is a kind of “hybrid” of a linear reversal and the iMovment indicator (https://www.mql5.com/en/code/99). The difference of the last is that the delta is the reversal parameter and it is not deposited on the close price, namely the extremums, i.e. high and low. At the same time the condition of the reversal is not only the delta but the breakthrough bar, i.e. breakthrough of a certain price level. Under the breakthrough bar (the bar with the “pure” closing) means the bar which closing is above high or below the previous bar’s low. Isolation of these bars like the appearance of a new box on the charts of (three) linear reversal.
The SeriesBuffer buffer is added to the indicator on which the number of breakthrough bars of each trend in every moment is written so that the Expert Advisor can get this data. Besides the indicator can display the number of the breakthrough bars for the several last reversals.
MT5 Indicator – Download Instructions
Breakout Bars Trend is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
Breakout Bars Trend provides for an opportunity to detect various peculiarities and patterns in price dynamics which are invisible to the naked eye.
Based on this information, traders can assume further price movement and adjust their strategy accordingly.
How to install Breakout Bars Trend.mq5?
- Download Breakout Bars Trend.mq5
- Copy Breakout Bars Trend.mq5 to your Metatrader Directory / experts / indicators /
- Start or restart your Metatrader 5 Client
- Select Chart and Timeframe where you want to test your indicator
- Search “Custom Indicators” in your Navigator mostly left in your Metatrader 5 Client
- Right click on Breakout Bars Trend.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator Breakout Bars Trend.mq5 is available on your Chart
How to remove Breakout Bars Trend.mq5 from your Metatrader 5 Chart?
- Select the Chart where is the Indicator running in your Metatrader Client
- Right click into the Chart
- “Indicators list”
- Select the Indicator and delete
Click here below to download MT5 Indicator: