Consolidation Breakout Indicator
- Göstergeler
- Christopher Graham Parish
- Sürüm: 1.1
- Güncellendi: 18 Mayıs 2022
- Etkinleştirmeler: 10
The Consolidation Breakout Alerts Indicator will revolutionize your trading strategy.
Our innovative indicator offers unique buy and sell arrows when price breaks out from consolidation, allowing you to get in at the most optimal entry with minimal risk and maximum reward potential.
Never again will you miss out on the lucrative trading opportunities available in volatile markets.
Let the Consolidation Breakout Alerts Indicator do the work for you and reap the rewards!
Buy and Sell Arrows when price breaks out from Consolidation.
It Also Alerts –
- On MT4
- To Your Phone
- To Your Email
- Does not repaint.
- Works on any Forex pair/timeframe - Simply adjust the settings for your pair/timeframe.
- 10 Activations
- See example of Alerts from today (23 May 22) using this and 2 other of my indicators here.
What is Consolidation Breakout & why is it important to you?
As you know, the market goes through phases of trend and consolidation.
Consolidation is a “phase” of price action where price doesn't move much for a some time. Areas of supply & demand/support & resistance, are relatively equal during consolidation.This often comes just before a large breakout & new trend formation (big move).
The Consolidation Breakout Indicator alerts you when the consolidation has finished & price has broken out.
Works very well in conjunction with the Trend Continuation Alerts Indicator.
Obviously, this indicator will not predict all breakouts all the time – the markets are unpredictable – otherwise we would all be successful all the time.
This is still Forex and you will not win every trade. Practice on Demo before trading with live money and always use good money management.
Please message me if you have any questions.
SETTINGS - Please make sure you input the correct settings for the timeframe/pair you are trading.
MaxConsolidationPips
Allows you to set the maximum number of pips between the top & bottom of the consolidation. (Fewer pips, fewer signals, but possibly more accurate.) Obviously this amount will depend on the pair & timeframe you are trading at the time.
MinSignalBreakoutPips
Minimum number of pips you want the signal candle to breakout of the consolidation.
TrendEMA
Indicator uses an Exponential Moving Average (EMA) to help determine trend. You can set this here.
These levels allow you to set how “still” the market price is during the consolidation. It’s a bit tricky to explain, but at the end, there are example values to use.
Mean price level is in the middle of the consolidation high & low (the average). The indicator looks at all the candle highs & lows to see how close they are to the mean. The closer, the more “still” the price has been.
A setting on 0.5 for both the UpperMeanLevel and LowerMeanLevel is exactly in the middle & you will get very few signals.If you want to allow price to be less “still” (ie the candles can move up & down a bit) then increase the UpperMeanLevel and reduce the LowerMeanLevel.
UpperMeanLevel should be between 0.5 and 1- the closer to 1, more signals, less accurate. LowerMeanLevel should be between 0 and 0.5- the closer to 0, the more signals, less accurate.
NB. It is a good idea to always make these values add up to 1. Ie if the UpperMeanLevel is 0.6, the LowerMeanLevel should be 0.4 (0.6+0.4=1).
SignalCandleMaxProportion
Allows you to set the maximum size of the signal (breakout) candle compared to the size of the Consolidation. A value of 1 means the candle can be as big as the consolidation. Higher than 1 means it can be bigger. Be careful of having this value too high as a very large candle may have been formed by a News event (or Bank Manipulation etc) and a price correction may be coming very soon.
EMATrendGapPips
Determines the slope of the EMA which is also an indication of the strength of the trend. The value is the number of pips higher or lower the EMA is at the end of the consolidation compared to the beginning of the consolidation. The higher the value, the stronger the trend, fewer signals & the end of the trend may be coming.
TimeOfTheDay(from hour)
The hour you want the Indicator to start each day.
TimeOfTheDay(from mins)
The number of minutes past the hour you want the Indicator to start each day.
TimeOfTheDay(to hour)
The hour you want the Indicator to stop each day.
TimeOfTheDay(to min)
The number of minutes past the hour you want the Indicator to stop each day.
Send_Email
The indicator will send an alert to your email (set this up in MT4).
Audible_Alerts
The indicator will give a sound alert and pop-up message in MT4.
Push_Notifications
The indicator will send an alert to your phone (set this up in MT4).
Good indicator