Super Range Breakout Metatrader 4 Forex Indicator
The super range breakout forex indicator for MT4 delivers an easy way for anyone to trade buy and sell range breakout price levels.
The indicator draws the buy and sell breakout levels directly on the activity chart.
- A buy range breakout signal occurs when price reaches the blue bar on the chart.
- A sell range breakout signal occurs when price reaches the red bar on the chart.
The indicator also calculates and displays the % trending factor for the pair (upper left corner).
Feel free to experiment with the different indicator’s inputs settings to suit your needs and preferences.
The EUR/USD 5-Minute chart below displays the Super Range Breakout Metatrader 4 forex indicator in action.
Basic Trading Signals
Signals from the Super Range Breakout MT4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open a buy trade when price reaches the blue super range breakout MT4 indicator bar.
Place a stop loss 1 pip below the brown indicator bar or below short-term support.
Sell Signal: Open a sell trade when price reaches the red super range breakout MT4 indicator bar.
Place a stop loss 1 pip above the dark green indicator bar or above short-term resistance.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart window indicator
Customization options: Variable (display text, full box display, time frame, show graphics) Width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, Daily, Weekly, Monthly
Type: range breakout
Copy and paste the !!!-MT4 X-BREAKOUTBOX.ex4 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)