Download MetaTrader 5

Watch how to download trading robots for free

Interesting script?
So post a link to it -
let others appraise it

You liked the script? Try it in the MetaTrader 5 terminal

2016.02.08 12:00
Indicators

TradeBreakOut - indicator for MetaTrader 4

| English Español Português Русский Deutsch 日本語

Views:
8168
Rating:
votes: 13

Real author:

Andriy Moraru

The TradeBreakOut indicator reveals distance from the actual price (Close or Maximum/Minimum prices) up to the breakthrough of recently set support or resistance levels which were defined using local maximums and minimums.

Input Parameters:

  • L (default = 50) — indicator period. The higher the value is the less breakouts are signaled but the better their quality.
  • PriceType (default = 1) — the type of the price used in the calculation. Theoretically, the closing price is more suitable for daily/weekly periods. High/Low is more suitable for short-term periods. (0 — Close Price, 1 — High/Low).

Recommendations:

  • The above chart shows the TradeBreakOut indicator using the default values. When the green line reaches the zero point moving upwards, it speaks of the bullish breakthrough of the local maximum. When the red line reaches the zero point moving downwards, it signals about the bearish breakthrough of the local minimum. The more the distance from the zero level to the zero, the less the possibility of the breakthrough.

Translated from Russian by MetaQuotes Software Corp.
Original code: https://www.mql5.com/ru/code/13200

Placing Stop Orders Grid Placing Stop Orders Grid

The script determines the price at the point of the chart, on which it was dropped down, and depending on that it places a grid of orders.

Length of trend Length of trend

The indicator shows the length of the trend line in points.

Equity Chart Equity Chart

The indicator displays the equity and balance charts.

Super Trend Super Trend

The Super Trend indicator not only determines the trend direction, but also helps to detect the Elliott waves.