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The Hi Lo Breakout

5
The Hi Lo Breakout is taken from the concept of the ZZ Scalper EA which exploits the inevitable behaviour of price fluctuations and breakouts. 
The fact that because market prices will always fluctuate to higher highs before ebbing down to lower lows, breakouts will occur.

But here I've added a few more filters which I see work well also as an Indicator.   

Range Analysis :   
When price is within a tight range this Indicator will be able to spot this and only then look for price breaks. You can set what you think is best but the default setting is 200 points range between recent high and low.

Volume Analysis :   
If price breaks a previous high or low when volume is higher than average volume price is more likely to continue in that direction.    

Timer :   
A timer that only allows signals within a certain time of day. EG within most major markets its best to look for changes in the mornings so we can use the timer to only look at these times.

I have left it so you can experiment with different settings though I personally think the standard default settings are best.    

Features :

  • Clear to see why it works! 
  • A way of gauging when market is in a nonvolatile state and ready for breakouts. 
  • Choose if you want range, volume analysis and what time of day you want signals to appear
  • Send alerts to either your PC, eMail or mobile device
  • Works on any timeframe 
  • Panel shows strike rate proving system efficacy

Settings :

Hi Lo Settings

  • Bars Till Hi Lo Dots Are Drawn - When a recent high or low occurs we count how many bars before we class it as a recent high or low to then start drawing dots.
  • Bars For Lookback - The number of bars we analyse for new highs or lows.  

Graphical Object Settings

  • Box Color - Sets the color of box when breakout occurs
  • Buy Arrow Color - Sets the color of the Buy arrow
  • Sell Arrow Color - Sets the color of the Sell arrow
  • Arrow Size - Sets the size of the Buy & Sell arrow
  • Side Panel - Sets if we want to see the panel or not

Volume Analysis Settings

  • Volume Analysis - True for if we want volume analysis, false for if we don't want volume analysis
  • Level Of Volume - The size of the current volume compared the previous average of volume

Range Analysis Settings

  • Range Analysis - True for if we want range analysis, false for if we don't want range analysis
  • Range Between Hi & Lo - The number of points between the previous high and low in order for there to be a signal allowed

Timer Settings

  • Timer - True for if we want the timer, false for if we don't want timer EG anytime of day 1-24hrs
  • Start Hour - The time we want our Indicator to start looking for signals
  • End Hour -  The time we want our Indicator to stop looking for signals

     
    Reviews 1
    Leo Tan
    68
    Leo Tan 2022.07.16 22:58 
     

    Very good indicator.

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    IX Power finally brings the unbeatable precision of FX Power to non-Forex symbols. It accurately determines the intensity of short, medium and long-term trends in your favourite indices, stocks, commodities, ETFs, and even cryptocurrencies. You can analyse everything your terminal has to offer. Try it out and experience how your timing improves significantly when trading. Read about our latest strategic development -  Easy scalping with IX Power Visit our all-new   Stein Investments Welcome
    ICT, SMC, SMART MONEY CONCEPTS, SMART MONEY, Smart Money Concept, Support and Resistance, Trend Analysis, Price Action, Market Structure, Order Blocks, BOS/CHoCH,   Breaker Blocks ,  Momentum Shift, Supply&Demand Zone/Order Blocks , Strong Imbalance, HH/LL/HL/LH,    Fair Value Gap, FVG,  Premium  &   Discount   Zones, Fibonacci Retracement, OTE, Buy Side Liquidity, Sell Side Liquidity, BSL/SSL Taken, Equal Highs & Lows, MTF Dashboard, Multiple Time Frame, BigBar, HTF OB, HTF Market Structure,  L
    FX Power MT4 NG
    Daniel Stein
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    Trading GOLD, and currencies, with the dog walk strategy  - super smart Trading GOLD, and currencies, with the breakout strategy  - super easy Visit our all-new   Stein Investments Welcome Page   to get the latest information, updates and trading strategies. FX Power MT4 NG  is the next generation of our long-time very popular currency strength meter, FX Power.  And what does this next-generation strength meter offer? Everything you have loved about the original FX Power  PLUS GOLD/XAU stre
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    Three Bar Break EA
    Stephen Reynolds
    DESCRIPTION 3 Bar Break is based on one of Linda Bradford Raschke's trading methods that I have noticed is good at spotting potential future price volatility. It looks for when the previous bar's High is less than the 3rd bar's High as well as the previous bar's Low to be higher than the 3rd bar's Low. It then predicts the market might breakout to new levels within 2-3 of the next coming bars. Must also be traded during the active hours of the market you want to trade. EG EURUSD 7am - 5pm This
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    Leo Tan
    68
    Leo Tan 2022.07.16 22:58 
     

    Very good indicator.

    Reply to review
    Version 1.2 2023.04.18
    Updates :

    1. Changed hilo breakout lines to a more accurate level

    2. Make a box appear on breakout

    3. Make arrows appear once instead of multiple times

    4. Added a panel to show some useful data

    5. Changed logo to an improved image

    Version 1.1 2018.11.12
    Added a for loop so we can lookback at history of bars so the indicator will show previous signals when placed onto chart.