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ACB Breakout Arrows MT5

The ACB Breakout Arrows indicator provides a crucial entry signal in the market by detecting a special breakout pattern. The indicator constantly scans the chart for a settling momentum in one direction and provide the accurate entry signal right before the major move.

Key features:

  • No Repaint!
  • Stop loss and Take Profit levels are provided by the indicator.
  • Suitable for Day Traders, Swing Traders, and Scalpers.
  • Optimized algorithm to increase the accuracy of signals.
  • Pre-calculated risk-reward on each trade.
  • Lot size suggestion using pre-defined risk % on each trade.
  • Special level to facilitate the Breakeven move or scalping target(Quick Profit Line).


Trades Confirmation:

you can confirm the false signals by using simple Support and Resistance Analysis i.e. Don't trade if there is a support or resistance level available between the entry and first target line.


Recommended Pairs and Time Frame:

A complete list of Pairs and Time-frame along with the optimized input parameters is provided in the comments tab.

Note:

The optimization has been carried out using a specific trading strategy based on this indicator. It doesn’t necessarily mean that the set of inputs provided in this PDF are best amongst all. You can experiment with your inputs and findings.

If you are using our indicator with your own trading strategy or you are not aware of the concept of optimization then you don’t need to follow the recommended settings at all. Default settings are more than good for most of the traders.


Input Parameters:

  • History Bars: Number of bars to consider for Indicator's calculation.
  • Signal Sensitivity: Choose the Arrow's Sensitivity (signal strength).
  • Bars for SL: Numbers of bars to consider for Stop loss calculation.
  • Display Information: Show/Hide the signal information on top left corner of the chart.
  • Lot Size Information: Show/Hide the lot size calculation for the last signal.
  • Risk per trade: Risk percentage on each trade.
  • Show Target Lines: Show/hide the SL, TP and Quick profit levels on the chart.
  • Show Max Profit: Show/Hide Max. Profit line: The Maximum Favorable Excursion in Pips for the latest signal.
  • Alert Settings: Display box, Email, Push notifications and Sound alerts are available.


For Developers:

Use the following code to import this indicator into an Expert Advisor.

// define array

double Buy_Arrow[];
double Sell_Arrow[];
double Buy_SL[];
double Sell_SL[];

//define indicator handle

int ACB_handle = iCustom(_Symbol,0,"Market/ACB Breakout Arrows");


// Copy buffers into arrays

CopyBuffer(ACB_handle,0,1,1,Buy_Arrow);
CopyBuffer(ACB_handle,1,1,1,Sell_Arrow);
CopyBuffer(ACB_handle,2,1,1,Buy_SL);
CopyBuffer(ACB_handle,3,1,1,Sell_SL);


if(Buy_Arrow[0]!=0) // Entry condition for Buy
if(Sell_Arrow[0]!=0) // Entry condition for Sell

Buy_SL[0]; // Buy Stoploss
Sell_SL[0]; // Sell Stoploss

// Fetching targets from charts

double Quick_Profit = NormalizeDouble(ObjectGetDouble(0,"FirstTarget",OBJPROP_PRICE),_Digits);
double First_Target = NormalizeDouble(ObjectGetDouble(0,"Target1",OBJPROP_PRICE),_Digits);
double Final_Target = NormalizeDouble(ObjectGetDouble(0,"Target2",OBJPROP_PRICE),_Digits);


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Version 3.1 - 2017.07.13
- Added pair and timeframe information in email and push alerts.
- Improved indicator speed by optimizing the signal algorithm.
- Removed bugs.