Channel Breakout Entry Metatrader 4 Forex Indicator
The Channel Breakout Entry Metatrader 4 indicator is primarily built off the Donchian channels and delivers accurate breakout signals.
The indicator has been modified to trade high momentum price breakouts.
In order to avoid false breakouts, the combination of indicators such as the Moving Averages, DeMarker and RSI can act as a filter to by-pass false breakouts and ramp up trade odds.
Three adjustable moving averages periods are included within the Channel Breakout Entry indicator setting.
- The indicator shows probable support and resistance characteristic on it upper and lower bands.
- The market appears to be ranging when the bands appears to be squeezed or contracted for a period of time.
- The visual representation of the Channel Breakout Entry indicator is slightly chaotic, as a result of the look of the Donchian channels themselves.
Feel free to explore the Channel Breakout Entry Forex indicator’s different parameters and settings to create your own personalized indicator setup.
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Channel Breakout Entry Forex Indicator Chart (EUR/USD M30 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 Channel Breakout Entry MT4 Indicator
Buy Signal: Go long when the two inner lines (lime & yellow) of the Channel Breakout Entry indicator aligns below the price bars.
When the light sea green line of the DeMarker indicator gets printed above 0.5 horizontal mid-level, it is a buy signal confirmation.
Sell Signal: Go short when the two inner lines (violet & blue) of the Channel Breakout Entry indicator aligns above the price bars.
When the light sea green line of the DeMarker indicator gets printed below 0.5 horizontal mid-level, it is a sell signal confirmation.
Exit buy trade: Close all buy orders if while a bullish trend is running, the Channel Breakout Entry indicator prints a violet line somewhat above the price bars.
Else, the light sea green line of the DeMarker indicator falls below the 0.5 horizontal mid-level.
Exit sell trade: Close all sell orders if while a bearish trend is ongoing, the Channel Breakout Entry indicator prints a lime line fairly below the price bars.
Else, the light sea green line of the DeMarker indicator surges above the 0.5 horizontal mid-level.
Tips: The Breakout Zones MT4 Indicator can be exploited to yield significant amount of profits quickly.
The indicator offers users a more conservative and safe way to enter new trends.
Users can also plot a moving average line such as the 100 EMA to further determine trend direction, asides using the DeMarker as shown above.
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Range 1, range 2, range 3, atr factor, atr range.
More Info About This Indicator
Tradable Currency pairs: Any
Trading Platform: MT4
Time frames: M1, M5, M15, M30, H1, H4, D1, W1
Indicator Type: Trend, Breakout
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.