Market / MetaTrader 5 / Indicators /

Breakout Lines MT5

30 USD

Demo downloaded: 7

Published: 17 April 2024

Current version: 1.10

Breakout Lines MT5

Indicators
Carl Gustav Johan Ekstrom
Version: 1.10
Updated: 19 April 2024
Activations: 10

EA included, PM after purchase! <-----

The Breakout Line in technical analysis serves as a crucial tool for understanding market dynamics and potential shifts in price direction. It's designed to highlight rapid accelerations or declines in the market's trajectory.

Unconventional Analysis: The Breakout Line is not your typical technical indicator; it's tailored to capture swift market movements, offering a unique perspective on price trends.
Angle of the Breakout Line: The sharper the angle formed by the Breakout Line, the stronger the indication of rapid market movements in that direction. This suggests that a steep incline or decline in the Breakout Line reflects a high potential for the market to rally or decline swiftly in the corresponding direction.
Cyclical Boundaries: The Breakout Line delineates the cyclical boundaries of price movements, indicating critical pressure points in the market. When the price approaches or breaks through this line, it signifies a pivotal moment where significant market shifts could occur.
Breaking the Line: As implied by its name, breaking the Breakout Line suggests a high likelihood of rapid market movements. This breach indicates a potential turning point in the market's trajectory, with increased momentum towards the direction of the breakout.

In summary, the Breakout Line provides traders and analysts with insights into market dynamics, offering cues about potential rapid movements and critical points of price pressure.

Parameters

Count Of Candles After Line Formation: 20 (increase this value if you want to receive signals past 20 candles after the creation of the breakout line. However this is not recommended as it can be considered "late" in the trend. The most powerful signals are generated within the first 20 candles!
Sound Alert: On/Off (triggers sound alert on new signal)
Sound File Name: alert.wav
Mobile Push Notification: True/False
Send Email Notification: True/False
Pop-Up Alert: True/False
Bullish Line Color: LimeGreen
Bearish Line Color: Crimson

more...

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Version 1.10 2024.04.19

Enhancements to visual appearance.