The TradeBreakOut indicator reveals the distance from the actual price (Close or Maximum/Minimum prices) to the breakthrough of recently set support or resistance levels which were defined using local maximums and minimums.
When the green line reaches the zero point moving upwards, it speaks of the bullish breakthrough of the local maximum. When the red line reaches the zero point moving downwards, it signals about the bearish breakthrough of the local minimum. The more the distance from the zero level, the less the possibility of the breakthrough.
MT5 Indicator – Download Instructions
TradeBreakOut is a Metatrader 5 (MT5) indicator and the essence of the forex indicator is to transform the accumulated history data.
TradeBreakOut 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 TradeBreakOut.mq5?
- Download TradeBreakOut.mq5
- Copy TradeBreakOut.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 TradeBreakOut.mq5
- Attach to a chart
- Modify settings or press ok
- Indicator TradeBreakOut.mq5 is available on your Chart
How to remove TradeBreakOut.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: