The big profit Breakout Metatrader 4 indicator displays levels where price breaks out with momentum, making little to no pullbacks.
It is not surprising to tell that this indicator can help capture big profits, as a result of momentum surge in prices that characterizes powerful breakout patterns.
- The upper horizontal line is filled spring-green and acts like a resistance level, whereby breaking the level is an indication of a bullish breakout pattern.
- The lower horizontal line is colored red and acts like a support level, where running below it points to increased downwards price pressures.
- The indicator is preconfigured to compute the 5-day high and low for any currency pair, and it is this information that enables it create a price range for trading purposes.
Feel free to explore the Breakout Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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Big Profit Breakout Forex Indicator Chart (EUR/CHF H1 Chart Example)
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
Finding Buy and Sell Triggers With The Big Profit Breakout MT4 Indicator
Buy Signal: Go long when price bar opens and closes above the spring-green horizontal line of the Breakout MT4 indicator.
When the MACD indicator prints silver histograms above the 0.00 horizontal level, it is a buy signal confirmation.
Sell Signal: Go short when price bar opens and closes below the red horizontal line of the Breakout MT4 indicator.
When the MACD indicator prints silver histograms below the 0.00 horizontal level, it is a sell signal confirmation.
Exit buy trade: Close all buy orders if while a bullish trend is running, price bar opens and closes below the spring-green horizontal level. Else, exit the buy trade when the MACD indicator prints a silver histogram below the 0.00 level.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, price bar opens and closes above the red horizontal level. Else, exit the sell trade when the MACD indicator prints a silver histogram above the 0.00 level.
Tips: The Breakout MT4 indicator is a sound technical indicator that offers great price breakout entry points.
It performs magically when used in combination with another technical indicator.
For example, we added the MACD to further simplify trend identification and confirmation.
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More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M15, M30, H1, H4, D1, W1
Indicator Type: Support/Resistance
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.