Trendline Breakout Indicator
- Indicators
-
Paballo Justice Tsoako
I am an MT5 Expert Advisor developer with a strong quantitative background in Mathematics, Statistics, and Applied Mathematics. I specialize in building logic-driven, price-action-based trading systems that emphasize risk control, clarity, and execution precision. - Version: 1.0
- Activations: 5
Trendline Breakout Indicator v1.0
NB; PRICE INCREASES EVERY 10 BUYERS
NB; USES DUMMY TRENDLINES ON STRATEGY TESTER SINCE WE ARE UNABLE TO DRAW TRENDLINES
- Multi-timeframe filter for higher timeframe alignment
- Bearish breakout (price breaks below support) → Only triggers if HTF is also bearish
When MTF Filter is Disabled
If you set `InpHTFTimeframe` to `PERIOD_CURRENT` (which is the default), the MTF filter is effectively turned off.
What happens:
- All valid breakouts trigger regardless of higher timeframe direction
- The indicator only checks the current timeframe conditions:
- Candle close beyond trendline
- Confirmation candles (if set)
- Volume confirmation (if enabled)
- Touch alerts
- Configurable arrow size and colors
- Allows backtesting of trendline-based strategies
NB; USES DUMMY TRENDLINES ON STRATEGY TESTER SINCE WE ARE UNABLE TO DRAW TRENDLINES
