Breakout Channel indicator
Forex Indicator BREAKOUT CHANNEL for MT4, No Repaint Trading System
- Upgrade your trading methods with the BREAKOUT CHANNEL Indicator for MT4.
- This indicator is complete profitable trading system based on High/Low breakouts!!!
- It has just 1 parameter - HYSTORY_DEPTH, it reflects the number of candles which are taken into consideration by indicator
- Parameter HYSTORY_DEPTH recommended values: timeframe D1 - 20 (one month), H4 - 30 (one week), H1 - 24 (one day)
- BREAKOUT CHANNEL consist of 3 lines: High Border - max price of last N (HYSTORY_DEPTH parameter) candles, Low Border - min price of last N (HYSTORY_DEPTH parameter) candles, Middle line.
- It is supposed to trade breakouts of High Border / Low Border
- BREAKOUT CHANNEL can be used for trading separately as it is shown on pictures OR as combitation with other indicators / Price Action patterns
- Examples of BREAKOUT CHANNEL indicator usage can be found on pictures