This indicator dedects Breakout using input parameters bars detection strategy. You can use the WaitForBarClosed function to confirm signals (true) but it sometimes is activated a bit later than false. The indicator opens in a seperate window. Suitable for all timeframes and pairs. The blue line shows the trend direction.
- Attach the indicator to any chart
- Select the desired inputs in the inputs Tab from the indicator dialog box that pops up.
- Select OK to confirm and continue.
- Lines_Break: Period, recommented values are from 3 to 21. The greater period makes smoother indicator.
- WaitForBarClosed: "true" or "false". You can use "false" for earlier signal by tighter stop loss and small take profit level. You can use "true" for confirmed signal. See the screenshot with both true and false options used together.
If "true", a signal waits for bar to close for confirmation. So, you can avoid false signals.