Trend breakout is everybody’s favourite way of trading. And there is a solid reason behind it because it allows us to get more pips in profit. It doesn’t matter if the breakout is in a bullish or bearish direction. You are guaranteed to make some profit. But wait, there is a minor problem as well. How do you detect a valid breakout out? There is a perfect and reliable way around it. You can use Breakout Box Indicator for MT4. This indicator will detect where the breakout is about to happen by showing you breakout zones on the charts. After seeing the zones, you can easily make profitable trades.
Working of Breakout Box MT4 indicator
The indicator performs technical analysis on timeframes that are below 4 hours. And it can draw the breakout zones on charts up to 1 hours timeframe. The best thing about this indicator is that you can trade using this indicator alone because the indicator is doing the calculations for you and displaying the results on your trading charts.
People who are new to trading can take advantage of breakout box mt4indicator features. Not only that! Seasoned traders can also use it in their advanced technical analysis and strategies.
Breakout Box Indicator MT4 Settings:
In the settings of the breakout box indicator, you can change the start and end period of your analysis, and you can also alter the colours of the box that is drawn on breakout zones.
You can see the setting of the breakout box indicator in the picture below
There are two ways using which you can trade using the Breakout box indicator.
In this strategy, we first look at the overall trend in the market, and when we see a breakout happening, we take the trade once the candle closes outside the breakout box.
This strategy is better, and I use this one when I am trading using a breakout box indicator. In this strategy, once the candle closes outside the box, we wait for the next candle to come back to the box and get rejected. Once the next candle is rejected, it is a clear indication that the zone is strong. And it will allow us to get a higher risk to reward ratio.
Breakout box indicator for mt4 has a lot to offer regarding its performance and is one of my favourite indicators. You can download it for free from the below link.