The Forex Breakout Box PRO Scalper indicator for MT4 provides high-quality breakout signals that occur during the trading day.
The indicator draws a box around the candlesticks that is ready to be traded.
You can set the desired begin and end box period.
The idea is very simple, when price breaks above or below the box, you’d open a buy or sell trade respectively.
I recommend to focus on the EUR/USD, GBP/USD and USD/JPY currency pairs.
From our testings, those currency pairs gave us the best results.
The Forex Breakout Box PRO scalper strategy goes as follows:
- Open a buy trade when the candlestick closes above the box high.
- Open a sell trade when the candlestick closes below the box low price.
You can use extra confirmation tools to confirm the buy or sell trade.
- Pure Forex price action trading.
- It can be setup in advance.
- Easy for beginners.
- Stand-alone trading system.
- Every day new signals.
Feel free to explore the Forex Breakout Box PRO Scalper indicator’s different parameters and settings to create your own personalized indicator setup.
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Forex Breakout Box PRO Scalper Indicator Chart
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 Forex Breakout Box PRO Scalper MT4 Indicator
Below, find an example of how to buy and sell currency pairs with this Forex indicator:
Buy Signal: Open a buy scalper breakout trade when the candlestick closes above the box high price.
Place initial stop loss below the low of the breakout box, or use your own stop loss placement strategy.
Take profit at fixed profit target (for example, 25 pips on the 5-minute chart) or use your own preferred take profit method.
Sell Signal: Open a sell scalper breakout trade when the candlestick closes below the box low price.
Place initial stop loss above the high of the breakout box, or use your own stop loss placement strategy.
Take profit at fixed profit target (for example, 15 pips on the 1-minute chart) or use your own preferred take profit method.
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Number of days, period A open, next day, background, 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: breakout
Copy and paste the indicator in the MT4 indicators data folder.
Then restart the MT4 terminal and attach it to any chart.