Charts247 Break and Count MT5
- Indicatori
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Segun Ayanniyi
Trader, educator and developer with 17 years of live market experience. I’m the founder of Charts247 Trading Academy, where I teach the WavesOfSuccess (WOS) methodology, a structured approach to reading market waves, trend changes and high-probability setups. - Versione: 1.1
- Attivazioni: 10
Charts247 Break and Count MT5
Spots the moment a rising support (or falling resistance) gives way, marks the entry candle and its stop, then maps the reversal level and counts the lows (highs) beyond it: buy low, no trade, buy low, continuation. Closed candles only.
A support line that has held three times is one of the most watched structures on any chart. When it breaks, two trades follow: the break itself, and later the reversal from the exhaustion lows. Break and Count marks both, on fixed rules, so you stop guessing which low is the one to buy and which is the one to leave alone.
The break (Sbrk / Rbrk)
• Sbrk: three swing lows rising in a row form the support; the next swing low below the last of them is the support break.
• Rbrk: the mirror on swing highs, three falling highs and a swing high above the last.
• The support or resistance line is drawn through the swings, with the break level marked.
Entry and stop marks
• An arrow on the first candle that closes through the break level: red for a SELL below a Sbrk, green for a BUY above a Rbrk.
• A dashed stop line from the last swing high (low) known at the entry candle.
• No arrow if the structure breaks the other way first: when a swing high takes out the high before the Sbrk, the pattern is cancelled.
ML1 / MH1: the reversal level
• ML1 is the first swing low below the Sbrk, the level where the selling meets its first buyers. MH1 is its mirror above a Rbrk.
• The level runs to the right until price closes beyond it and then back through it, so you see when it has done its job.
The 1-4 count
Each further lower low below ML1 is numbered:
• LL1: buy low (aqua arrow)
• LL2: no trade
• LL3: buy low (aqua arrow)
• LL4: continuation low, the move is still going and the count stops. Watch out for future break of these points.
HH1 to HH4 above MH1 are the mirror, with magenta arrows on HH1 and HH3. Before LL1 the count stops if the opposite pattern or a new Sbrk appears; from LL1, every lower low within the count window (4 hours from the close of the LL1 candle, an input) is counted.
Control panel
The panel shows the newest pattern on each side in one line, for example "SELL - close below Sbrk 1.08452, 12 candles ago | ML1 1.08310 live | LL2". Six buttons switch the layers on and off: sells, buys, support lines, entry and stop, ML1 / MH1 and the count. Settings are kept per symbol, and the panel can be minimised.
Alerts
Pop-up, phone notification or both, each switchable: a close through a Sbrk or Rbrk, LL1 / LL3 or HH1 / HH3 confirmed, and LL4 / HH4 continuation. Alerts fire once, on the close of the candle, never for history.
How it behaves
Everything is calculated on closed candles. A swing is confirmed a set number of candles after it prints (4 by default). Swings alternate high and low: if a lower swing low forms before the next swing high, it replaces the earlier one, as in any swing chart. Labels stay clear of the arrows at any zoom.
Inputs
• Swings: swing strength, history, copy number.
• Break pattern: each side on or off, support lines, colours.
• Entry and stop: arrows, stop line length, colours, arrow size.
• ML1 / MH1 and count: level, count, count window in hours, colours.
• Labels: font, size, gaps.
• Alerts and panel position.
Notes
• Works on any symbol and timeframe; built on intraday forex charts (M5 to H1).
• The pattern is part of the Waves of Success method taught by Charts247 Trading Academy.
• No DLLs and no files written.
