High Probability Breakout Trendline
- Joel Protusada
- Version: 1.0
⚡⚡ V E R Y I M P O R T A N T ⚡⚡
- This is not a stand alone indicator. Use it with your own trend-following strategy for confirmation.
- You can put it in any charts and timeframes.
- If there is no trendline appears in some timeframes, it means there is no possible high probability breakout.
- If you don't have a solid trend-following strategy yet, you can use this indicator together with the VOLATILITY WATCHER INDICATOR. You can download it from this link... https://www.mql5.com/en/market/product/46475
- You may also need to observe overbought and oversold status of your pair by using the OBOS WATCHER. You can download it form this link...https://www.mql5.com/en/market/product/47894
💎💎 F E A T U R E S 💎 💎
- The indicator uses a proprietary breakout algorithms.
- You can choose to change the number of bars to analyze in the parameter window.
- The foundation of the indicator is based on one of the features of the DT Playbook strategy introduced in the e-book, Uncharted Stratagems: Unknown Depths of Forex Trading. Read it here... https://www.yumpu.com/en/document/view/63068016/uncharted-stratagems-unknown-depths-of-forex-trading
💎💎 A P P L I C A T I O N 💎 💎
- Trend Following only.
- For risk management, you can use your own Stop-Loss and Take Profit methods.
- For money management, you can choose to use your own style depending on your risk appetite.
- CONFIRMATION: When the current candlestick (rightmost bar) breaks the line, it confirms your trend-following analysis.
Wow thank you for this indicator. I've been looking for a good trendline indicator for awhile. This is the first that actually is usable. Nice job! Draws trendlines the way they should be drawn! Thank you Joel!