The Breakout Zones indicator for MT4 draws short-term support and resistance horizontal lines on the trading charts.
Use it on time frames up to the daily charts. It works on all currency pairs.
Trading Signals
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.
Download
Download the Breakout-Zones.mq4 indicator.
Configurable Indicator Options
LocalTimeZone, DestTimeZone,PipsForEntry
GBP/CHF 1 Hour Chart Example
How to install the Breakout Zones custom indicator in Metatrader 4?
- Download the Breakout-Zones.mq4 indicator to your computer.
- Open your Metatrader 4 platform.
- Open the data folder from the top menu.
- Open the MQL4 folder.
- Open the indicators folder.
- Paste the indicator file in this folder.
- Restart the trading platform.
- Open any trading chart.
- Attach the indicator to the chart.