Time Zone Breakout Strategy Using MT5 Indicators

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MT5 Box Breakout Alert

Download MT5 Box Breakout Alert Indicator For Free so you can be notified via Email, App and On Screen when the price break above or below a previous high or low.

What Is The Box Breakout Alert Indicator

Breakout strategies are very popular among traders.

They consist in buying an asset when this breaks above a value or sell when the price breaks below a value.

This value can be a trend line, a previous high, a moving average or another indicator.

In the version of Box Breakout, the trader draws a box containing the highs and lows in the previous candles.

So number of candles considered is the main parameter of the indicator.

This is usually done manually but in this page you can find something that can help.

MT5 Box Breakout Alert Indicator

As a trader, you might find useful to have a tool that alerts you when a Box Breakout happens.

Through the Box Breakout Indicator you can:

  • Set the number of candles for the box
  • Set if drawing arrows to signal the breakout
  • Enable or disable notifications

The indicator will scan the chart in the past to see if there were breakouts and signal them on chart if you enable the arrows.

This can help in seeing visually if the pair or asset could be profitable with breakout strategies.

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The indicator automatically finds highs and lows in the charts and also notifies you when there is a current breakout.

Due to the indicator being dynamic it doesn’t draw the boxes, instead it only draws the signals.

You can receive notifications via:

MT5 Box Breakout Alert Indicator Installation

To install the indicator please follow the instructions below:

  1. Download the indicator file
  2. Open the Metatrader Data Folder (In File > Open Data Folder)
  3. Open the MQL5 Folder
  4. Copy the file in the Indicators Folder
  5. Restart Metatrader

For more detailed instruction on how to perform the installation please visit this article.

Please feel free to leave a feedback regarding the indicator or Contact Us for anything else.

TOP 100 best indicators: post good indicators here

I will make a list: top 100 best indicators.

So please upload good indicators in this thread.

Good indicators are considered:
– stimulating your perspective in the market
– any trader should know about and should have seen at least once
– getting inspiration for your own system
– (naturally, I don’t consider a good indicator: profitable in trading. The purpose of this thread is solely increasing our mindset and depth in the market by applying different kind of indicators.)

___________________________________________
List of good indicators:
___________________________________________

  1. Elliot Wave indicator: EW_ABCD_PRO_fix.ex4. Details: complete trade manager, additional windows: correlations, fib level division, multiple methods, TF switcher, currency pair ‘wave count’ check. https://www.forexfactory.com/showthr. 0#post11262540
  2. Floating indicator 1.01.ex4. Details: choose an indicator, press ok. Now it is floating on the chart
  3. TF Heiken Ashi Arrows.mq4https://www.forexfactory.com/showthr. 6#post11092596

___________________________________________
List of great websites to download indicators
___________________________________________

57# Breakout Zones

Breakout Zones trading Method

Submit by Buddy 14/12/2020

I have chosen to place 4 Breakout Zones and these are viewed on the Chart as colored in gray-areas.

AS soon as a gray area ends (which corresponds to a 2 hour period),

purple lines appear above and below this zone

and remain for the rest of the day.

The light gray area comprises the Highest and Lowest price candles (inclusive of wicks) within that 2 hour period, the dark gray area is a 10 pip offset on either side and the purple lines are where we wait for price to breakout from.

These purple lines are also great Daily Support/Resistance Lines.

Also IMPORTANT to note:

The thinner the light gray area is, the better the Breakout Trade will be!!

A couple of things to keep in mind with respect to these Breakout Zones:

a) My Breakout Zones are setup up for a +2 GMT MetaTrader.

If you are using any other MetaTrader you will need to make adjustments:

‐ right click your chart,

‐ choose Indicators List, and

‐ one by one edit the 4 Breakout Indicators.

These 4 Breakout Zones with respect to GMT should be calibrated to the following Start and End settings:

06:00‐08:00 GMT – the London session begins after early morning Europe has created a trading range.

12:00‐14:00 GMT – US has had their coffee and London is back from lunch during which a range was born.

17:00‐19:00 GMT – US returns from lunch during which time another trading range was created.

22:00‐00:00 GMT – the Asian session and a new day begins after a quiet time which also forms a range.

** The first 2 Zones are the most important and effective in my opinion, the second 2 Zones are secondary.

b) My Breakout Zones are setup for a 5 decimal point broker.

Therefore, if you are using a 4 decimal point broker this setting would also require to be changed from within the Breakout Indicator ‐ change “offset” to 10 (instead of 100).

An interesting observation you might want to keep in mind is that if your time for trading is limited, the Breakout of these Zones can be traded on their own – for instance, as soon as a candle crosses above/below the purple line.

But if you are trading the FULL method as outlined in this e‐book, a set‐up that

Occurs as it is Breaking Out of these Zones,

is setting up before a purple line and ready to Break Out of these Zones,

can be a VERY powerful trade!!

In the image below we have an extreme example of a 350 pip movement which clearly demonstrates

these Zones will work out for at least 20 pips.

good these Breakout set‐ups can be. This will not always be the case but you will find that 80% of the time

In this example the bottom purple line was broken which shows us where the price is trying to go, but immediately retraced itself and hit the exact same price 2 times before an Entry occurred with a red eats blue candle and a little Sideways Movement so to be safe we place our SL at the recent high.

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