MT4 Breakout Box Forex Indicator | Free Download
The MT4 Breakout Box Forex Indicator makes it easy for you to trade breakouts without the hassle of understanding where the support and resistance levels are. Of course, it helps if you know but it’s not entirely necessary since this neat indicator has done most of the work. The indicators draw the levels directly on the price chart with different color coding.
Below is the step process to take when using this MT4 Indicator.
Step 1: Determine the trend so that you trade with the trend all the time.
Step 2: Identify the Entry level. If it’s downtrend, then look at the bottom of the box as your entry price. That’s the Sell Stop level in this case.
Step 3: Determine the Stop Loss Level. Once you decided on the SL level, apply the same reward margin so that you achieve a 1:1 risk-reward ratio each and every trade.
Let’s take a look at a short trade example below…
The same applies for long trades. Example below…
MT4 Breakout Box Forex Indicator Settings
Recommended Time Frames
Technically speaking, you can use this MT4 indicator for all time frames. However, the shorter the time frame, you will see more fluctuation and possibly more whipsaw which may cause small losses that can eat up your portfolio quickly. We recommend that you use higher time frames like the H4 for better consistency.
We have provided this powerful trend trading indicator to you at no cost. We humbly request your help to spread the word by sharing on one of the social platforms below.
Leave us a comment below to let us know your thoughts on this indicator. If you like this indicator, you might like to see other indicators that we have carefully selected that will help you in your trading journey.
And if you can, you really should invest in a proven MT4 Expert Advisor to help you generate some profit on full autopilot. We highly recommend this >>> www.Scalper101.com
Visit our Free MT4 Indicator Download page. We hope you have enjoyed this post as much as we have creating this strategy post for you.
Good luck and thank you for your readership.
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