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Published:

2025.06.06 11:53

AlphaTrend.mq5 (5.71 KB) view

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Translated from Turkish by MetaQuotes Ltd.
Original code: https://www.mql5.com/tr/code/54459

False Breakups

The "False Breakouts.mq5" indicator is a tool for MetaTrader 5 that visually identifies and marks buy and sell points based on false breakouts of support and resistance. It uses buffers to display buy (blue) and sell (red) arrows, as well as lines for support (blue) and resistance (red), and additional arrows for market tops and bottoms. The indicator's main logic consists of detecting tops and bottoms based on the high and low prices of the candles, dynamically updating support and resistance levels. When the price breaks through support or resistance and then returns, the indicator generates buy or sell signals respectively. It is a useful tool for traders who operate strategies based on false breakouts.

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AlphaTrend - indicator for MetaTrader 5