The Directional Buy/Sell Trend Breakout Forex MT4 indicator is a trend-following signals indicator that detects early price breakouts.
The indicator appears in a sub-trading window underneath the main MT4 trading window in the form of colored bars.
This breakout trend indicator can be applied to any currency pair and time frame.
Due to its simplicity, it can also be used by absolute beginner traders.
- Green colored bars represent a directional buy breakout trade. Go long.
- Red colored bars represent a directional sell breakout trade. Go short.
- Yellow bars represent range-bound trading conditions. Wait for new trading signals.
Feel free to explore the Directional Buy/Sell Trend Breakout indicator’s different parameters and settings to create your own personalized indicator setup.
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Indicator Example Chart (EUR/USD M15 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 Directional Buy/Sell Trend Breakout Forex MT4 Indicator
Buy Signal: Open a new buy order when the first green bar gets printed on the chart.
Place stop loss below the previous swing low price, or use your own favorite SL method.
Exit the buy trade when the indicator prints the first red bar on the chart (stop and reverse the trade), or use your own favorite take profit method.
Alternatively, exit the buy trade when the first yellow bar appears on the chart (range-bound market conditions).
Sell Signal: Open a new sell order when the first red bar gets printed on the chart.
Place stop loss above the previous swing high price, or use your own favorite SL method.
Exit the sell trade when the indicator prints the first green bar on the chart (stop and reverse the trade), or use your own favorite take profit method.
Alternatively, exit the sell trade when the first yellow bar appears on the chart (range-bound market conditions).
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Time frame, price, method, length, alerts ON, message, alerts notify, show arrows, colors, width, style.
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.