Great Breakout Spot
- Indicators
-
Md Meraz Mahmud
Hello, I'm Meraz, a Forex trader and MQL4/MQL5 developer based in Bangladesh, also known as "Meraz Trader". - Version: 1.0
- Activations: 10
MERAZ BREAKOUT PRO - Spot Great Breakouts (Non-Repaint)
Meraz Breakout Pro finds high-quality breakout setups on Forex and Gold (XAUUSD). It looks for a clean structure first, and only then signals the breakout. This helps avoid the many false breakouts that simple indicators show.
HOW IT WORKS
The indicator checks three conditions before any signal:
1. Higher lows into resistance
Price must form a series of rising swing lows while pushing toward a resistance zone. For sell signals, it looks for lower highs into support.
2. Build-up at resistance
Price must compress and stay close to the zone for several candles. This shows that buyers (or sellers) are absorbing orders before the move.
3. No nearby resistance
The indicator scans older history. If another important level sits just above the breakout, the setup is rejected. The path must be clear.
Then the breakout candle must also be strong:
- Closes beyond the zone by an ATR-based buffer
- Large body, small wick on the breakout side
- Not an over-extended (exhaustion) candle
- In the direction of the EMA trend (optional)
NON-REPAINT
Signals are calculated only on CLOSED candles. The arrow appears after the candle closes and never moves or disappears. The forming candle is ignored.
FEATURES
- Buy / Sell arrows on chart
- Resistance / support zone drawn on chart
- Entry, Stop Loss, TP1, TP2, TP3 levels for the latest signal
- Popup alert, sound, push notification and email alert
- Professional dashboard: trend, ATR, spread, range high/low, last signal, trade levels, signal status (running / TP1 hit / SL hit), signal count and win rate
- Built-in anti-fake filters: minimum touches, minimum rising lows, cooldown between signals, trend filter, candle quality filter, maximum stop size
- Works on all Forex pairs and Gold; all distances use ATR, so it adapts to any symbol and volatility
- Recommended timeframes: M15, M30, H1, H4 (M15 or higher)
STOP LOSS AND TAKE PROFIT
- Stop Loss is placed below the build-up zone (above it for sells) with an ATR buffer
- TP1 / TP2 / TP3 are calculated as multiples of risk (default 1R, 2R, 3R)
MAIN INPUTS
- Structure lookback, swing strength, minimum rising lows, minimum touches
- Zone thickness, build-up bars, clear space required above resistance
- Breakout candle filters (body size, wick, ATR size)
- Trend EMA filter (period 200 by default) on/off
- Cooldown bars between signals
- Risk multiples for TP1 / TP2 / TP3
- Alert options and dashboard position
HOW TO USE
1. Attach the indicator to an M5 Or M15 or higher chart (XAUUSD, EURUSD, GBPUSD, etc.).
2. Wait for the arrow. It appears only after the candle has closed.
3. Use the suggested Entry / SL / TP levels, or your own risk management.
4. For fewer signals: increase minimum touches / rising lows or the cooldown.
For more signals: reduce minimum rising lows.
NOTES
- Use M5 And M15 or higher timeframe. On lower timeframes the indicator stays inactive and shows a message.
- The dashboard win rate is a statistic on loaded history (TP1 vs SL on closed candles). It is not a promise of future results.
- Always test on a demo account first.
RISK WARNING
Trading Forex and CFDs involves a high level of risk and may not be suitable for all investors. No indicator can guarantee profit. Past performance does not guarantee future results. Use proper risk management.
Please contact me by private message on MQL5 for support, questions and suggestions. Reviews are appreciated.
