False Breakout Detector
- Indicators
- Mattia Impicciatore
- Version: 1.10
Expert Advisor Version
If you prefer automated trading instead of manual signals, you can find the Expert Advisor version of this indicator here:
https://www.mql5.com/en/market/product/148310
False Breakout Detector is an indicator designed to identify situations where the price temporarily breaks a recent support or resistance level but quickly returns to the previous range. These false breakouts can be useful for discretionary analysis or contrarian trading strategies.
Main Features:
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Automatic detection of false breakouts on recent highs and lows
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Clear visual representation using arrows, lines, and background highlights
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Customizable notifications via popup and push alerts
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User-defined parameters, including number of bars, pip tolerance, arrow distance, and colors
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Lightweight code, optimized for fast execution and backtesting
Compatibility:
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Timeframes: M1 to H4
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Instruments: Forex, indices, stocks, commodities
This indicator does not use predictive algorithms, does not guarantee trading results, and does not generate automatic signals. It is a technical analysis support tool.
Recommended Indicator
This indicator can be used in combination with the Candlestick Pattern Analyzer tool, available on MQL5, to strengthen setup analysis:
https://www.mql5.com/en/market/product/145419
Keywords
False Breakout, Fakeout, Stop Hunt, False Breakout Detector, Support Breakout, Resistance Breakout, Contrarian Trading, Price Rejection, Price Trap, Market Trap, Reversal Signal, Liquidity Grab, Support Level, Resistance Level, Breakout Failure, Swing High, Swing Low, False Breakout Pattern, Price Action, Market Manipulation, Failed Breakout, False Breakout Indicator, Stop Loss Hunt, Breakout Trap, Technical Analysis, Price Fakeout, High Low Breakout, Trend Reversal, Chart Patterns, Backtest Indicator
