Breakout Zones Metatrader 4 Indicator
The Breakout Zones indicator draws short-term support and resistance horizontal lines on the trading charts. Use it on timeframe’s up to the daily charts. It works on all currency pairs.
BUY: Wait for the price to close above the resistance line.
SELL: Wait for the price to close below the support line.
Use in conjunction with indicators to identify the primary trend. Trade in the overall direction of the prevailing trend in order to reduce the amount of false breakout signals.
Configurable Indicator Options
GBP/CHF 1 Hour Chart Example