Timebox Breakout Metatrader 4 Forex Indicator

The Timebox Breakout Mt4 indicator draws a box that marks the daily high and low price.

The daily box presents an easy way to trade daily buy and sell breakout signals.

A buy breakout signal occurs when the current price rises above the previous day high price.

A sell breakout signal occurs when the current price falls below the previous day low price.

The indicator draws 3 different types of colored boxes:

  • Green box: the close price is higher that the open price (bullish)
  • Red box: the close price is lower than the open price (bearish)
  • Yellow box: this box has a Doji single chart pattern inside. This could indicate a possible trend reversal.

Free Download

Download the gg-timebox-indicator.mq4” MT4 indicator

Example Chart

The EUR/USD 1-hour chart below displays the Timebox Breakout Metatrader 4 indicator in action.

Basic Trading Signals

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

Buy Signal: Open buy position when price breaks above the high of the previous day box high price. Place a protective stop-loss below short-term support.

Sell Signal: Open short position when price falls below the low of the previous day box low price. Place a protective stop-loss above short-term resistance.

Trade Exit : Use your own method of trade exit.

Download

Download the gg-timebox-indicator.mq4” Metatrader 4 indicator

MT4 Indicator Characteristics

Currency pairs: Any

Platform: Metatrader 4

Type: Chart pattern indicator

Customization options: Variable (custom time frame, unit to process) Colors, width & Style.

Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month

Type: breakout

Installation

Copy and paste the gg-timebox-indicator.mq4 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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