DOSR Support And Resistance Breakout MT4 Indicator
The DOSR Support And Resistance Breakout MT4 indicator provides you with accurate buy/sell breakout levels based on daily support & resistance levels.
The rules to buy and sell with the DOSR Forex indicator are easy to follow, and points you in the direction of the most profitable daily trend.
Just load the DOSR Support And Resistance Breakout indicator onto the Metatrader 4 chart and start trading with it in minutes.
- A break above the red DOSR daily resistance line represents a buy breakout trade.
- A break below the blue DOSR daily support line represents a sell breakout trade.
- Works well and profitable.
- Pure price action, no lag.
Feel free to explore the DOSR Support And Resistance 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.
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Buy Signal: Open a buy breakout trade when price closes above the red DOSR resistance line.
Set your stop loss below the previous swing low price or nearest consolidation level, or use your own favorite stop loss method.
Take your profit for a fixed profit target level (for example, 25 pips on the M5 chart), or use your own favorite take profit method.
Sell Signal: Open a sell breakout trade when price closes below the blue DOSR support line.
Set your stop loss above the previous swing high price or nearest consolidation level, or use your own favorite stop loss method.
Take your profit for a fixed profit target level (for example, 15 pips on the M1 chart), or use your own favorite take profit method.
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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: support/resistance
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.