Daily Breakout Metatrader 4 Forex Indicator

The Daily Breakout MT4 forex indicator displays 2 interesting lines on the chart: the previous day high price line and the previous day low price line.

This is a great indicator if you like to trade daily price breakout signals.

You can apply this simple technique to any currency pair.

Free Download

Download the daily-breakout.mq4” MT4 indicator

Example Chart

The EUR/USD D1 chart below displays the Daily Breakout forex indicator in action.

Basic Trading Signals

Signals from the Daily Breakout MT4 indicator are easy to interpret and goes as follows:

Buy Signal: Open buy position when price rises about the previous day high price.

Sell Signal: Open sell position when price falls below the previous day low price.

Download

Download the daily-breakout.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: chart pattern

Customization options: Variable (Alerts, GMTShift, SupportColor, ResistanceColor) Colors, width & Style.

Time frames: 1-Hour, 4-Hours, 1-Day

Type: Price line

Installation

Copy and paste the daily-breakout.mq4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Indicators (paste here)

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