MTF Currency Pairs Professional Breakout Scanner

MTF Currency Pairs Breakout Scanner v1.1 (MT5)

Description

MTF Currency Pairs Breakout Scanner is a technical analysis indicator for MetaTrader 5 designed to scan multiple Forex symbols across multiple timeframes and detect channel breakout conditions based on predefined rules.

The indicator provides visual signals and alerts only.
It does not perform automatic trading and does not guarantee trading results.

Disclaimer

This product is intended for technical analysis and market monitoring purposes only.
Trading in financial markets involves risk.
Signals generated by this indicator should be used as part of a broader trading plan and risk management strategy.

Main Functionality

1. Multi-Symbol Scanning

• Scans multiple currency pairs simultaneously (majors, minors, exotics)

• No need to switch between charts

• Customizable symbol list

2. Multi-Timeframe Analysis

• Supports H1, H4, D1, and W1 timeframes

• Optional requirement for alignment across multiple timeframes

• Helps identify setups where conditions are met on more than one timeframe

3. Channel Breakout Detection

Supported channel types:

• Donchian Channels

• Keltner Channels

• Bollinger Bands

Breakout detection modes:

• Close-based

• Wick-based

• Body-based

Optional confirmation using a configurable number of bars.

4. Momentum & Trend Filters

• Momentum score calculation (scaled value)

• Trend angle measurement

• Optional volume confirmation

• Designed to filter sideways or low-momentum conditions

5. Dashboard Display

• Central dashboard showing all scanned symbols

• Visual indication of bullish / bearish conditions

• Strength score (calculated based on internal rules)

• Customizable size, position, and colors

6. Additional Filters

• Spread filter

• Volatility (ATR) filter

• ADX trend strength filter

• Trading session filter (e.g. London / New York)

• Pair-specific parameter customization

7. Trade Level Calculation (Informational)

For each detected signal, the indicator can calculate:

• Reference entry price

• ATR-based stop loss

• Up to three take-profit levels based on configurable risk-reward ratios

These levels are for reference only and are not executed automatically.

8. Alerts

Supported alert types:

• On-screen alerts

• Push notifications

• Email alerts

• Sound alerts

Alert cooldown can be configured to reduce repetition.

9. Chart Visualization

• Optional channel drawing on the active chart

• Directional arrows for breakout conditions

• Support and resistance level display

• Designed to minimize chart clutter

Customization Options

Scanner Settings

• Symbol selection

• Enabled timeframes

• Channel type

• Breakout detection mode

• Confirmation bars

Filters

• Maximum spread

• Minimum ADX value

• ATR range

• Trading session selection

Risk Parameters (Informational)

• ATR multiplier for stop loss

• Risk-reward ratios for take-profit levels

• Minimum signal strength threshold

Display & Alerts

• Dashboard position and size

• Color configuration

• Alert methods and sounds

Intended Users

This indicator may be useful for:

• Traders monitoring multiple currency pairs

• Traders using breakout-based strategies

• Users who prefer visual dashboards and alerts

• Traders who manually execute trades based on signals

Technical Information

• Platform: MetaTrader 5

• Type: Indicator / Scanner

• Works on: Demo and Live accounts

• VPS compatible

• Update interval: configurable

• Resource usage optimized for continuous operation

Notes

• This is not an Expert Advisor

• No automatic order execution

• Results depend on market conditions and user configuration