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KARAS Breakout

The KARAS Breakout indicator provides Entry Signal, StopLoss and TakeProfit levels by using special breakout pattern. Resistance and Support Levels are drawn at the same time. If you like breakout systems, you may use the buy and sell arrows signal for trading.

Key Features

  • No Repaint!
  • Entry Level, StopLoss and TakeProfit Levels are provided by indicator.
  • TakeProfit and StopLoss pips are manual.
  • Resistance and Support Levels are automatically drawn.
  • Available for all TimeFrames.
  • Suitable for Scalpers, Swing Traders, Day Trader, Short Term & Long Term Traders.
  • Period is optimized for accurancy of signals. You may change it for your own strategy.
  • If the price passes the StopLoss and TakeProfit levels, all levels are automatically deleted.
  • You may use this indicator for all instruments.

Input Parameters

  • Period: 55 is optimized. It must be minimum 13.
  • TakeProfit (Pip): TakeProfit in pips (Default 50).
  • StopLoss (Pip): StopLoss in pips (Default 30).
  • Buy Arrow Color
  • Sell Arrow Color
  • Entry Line Color
  • TakeProfit Line Color
  • StopLoss Line Color
  • Resistance & Support Color
  • Show Back Bar
  • Show Information: Show/Hide information from indicator.
  • Alerts: Push Notification, Display Box, Sound Alerts

For EA Developers

double Buy_Signal = iCustom(Symbol(),0,"KARAS Breakout",0,0);
double Sell_Signal = iCustom(Symbol(),0,"KARAS Breakout",1,0); 
//If there is an entry signal it returns current price, otherwise returns 0;
double Resistance = iCustom(Symbol(),0,"KARAS Breakout",2,0); 
double Support = iCustom(Symbol(),0,"KARAS Breakout",3,0);
//After loading, levels calculation is started. No history data for all indicator outputs.
double StopLoss = NormalizeDouble(ObjectGetDouble(0,"KARAS_Breakout_StopLoss",OBJPROP_PRICE),Digits);
double TakeProfit = NormalizeDouble(ObjectGetDouble(0,"KARAS_Breakout_TakeProfit",OBJPROP_PRICE),Digits);
double Buy_Level = NormalizeDouble(ObjectGetDouble(0,"KARAS_Breakout_Buy",OBJPROP_PRICE),Digits);
double Sell_Level = NormalizeDouble(ObjectGetDouble(0,"KARAS_Breakout_Sell",OBJPROP_PRICE),Digits);
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Version 3.0 - 2018.02.28
- TakeProfit and StopLoss levels are changed from auto to manuel.
- Fix bugs when chart timeframe is changed
- Close order signals are added to alert system
Version 2.0 - 2017.08.14
- Entry signals are improved.
- Added back bar. Show historical calculation.
Version 1.10 - 2017.06.23
Version 1.10

- Resistance and Support Levels have been redesigned.
- Entry points conditions have been renewed.