Breakout and rejection range trading
- Göstergeler
- Sürüm: 1.0
Breakout and Rejection Range Trading is a MetaTrader 5 indicator that identifies two range behaviors: breakouts, when price pushes through a level, and rejections, when price fails at a level and turns back. It maps the range and the trigger levels so you can trade both cases.
Features
- Automatic range mapping: tracks the highest high and lowest low over a lookback window to define the current range top and bottom.
- Breakout and rejection logic: a close beyond the range marks a breakout; a failure at the edge marks a rejection.
- Built-in trigger levels: derives buy/sell trigger levels inside the range from the range height, so entries are rule-based.
- Clear visual zones that adapt as the range shifts.
Inputs
- Lookback (X candles): bars used to compute the range high and low.
- Trigger Ratio: fraction of range height used to place the buy/sell trigger levels (for example 0.3).
- Include Current Bar: use the forming bar in the range calculation on/off.
- Color and line options.
Outputs
- Range top and bottom lines, with the internal buy/sell trigger levels marked.
- Visual cue when a breakout or rejection occurs at the edge.
Alerts
Optional alerts can be sent as a screen popup, sound, push notification and email on a breakout or rejection.
Limitations
Range tools work best while a range holds; once price breaks and trends, range rules stop applying. Confirm with the higher-timeframe trend and place stops beyond the opposite edge.
Full guide with the exact level formulas: see the Comments section.
Group support: https://www.mql5.com/en/channels/vuongphamtrading
