The Hans Forex Breakout indicator for Metatrader 4 provides two price breakout lines that can be used to execute buy & sell trades with better precision.
The upper breakout line can be used for buy trades while the lower breakout line can be used for sell trades.
How it works?
- Buy when the candlestick closes above the upper gray breakout line and the overall trend is going up.
- Sell when the candlestick closes below the lower gray breakout line and the overall trend is going down.
From our testing, the indicator does not repaint and works for any currency pair and time frame without slowing down the trading platform.
It can be used as a standalone technical tool or it can be combined with other technical indicators and trading systems.
Try first on a demo account until you fully understand how this indicator works!
Free Download
Download the hans-indicator.mq4 indicator file (MT4)
Indicator Chart Example
The picture above shows the indicator attached to the Euro / U.S. Dollar chart.
How to install the Hans Forex Breakout indicator to your Metatrader 4 platform?
- Download the hans-indicator.mq4 indicator file here and save it to your computer
- Open your Metatrader 4 platform
- Click on “File” (top menu) and then select “Open Data Folder” from the drop down menu
- Click on “MQL4” and open the “Indicators” folder
- Paste the indicator file in this folder
- Restart Metatrader 4 and you’re ready to start using the indicator
How to edit the indicator?
- Attach the indicator to any trading chart of your preference
- Right click in the chart and select “Indicators List” from the drop down menu
- Select the indicator from the list and click on “Edit”
- Now you can start editing the indicator (Inputs, Colors and Visualization)
- Final step, click on the “OK” button to save the new configuration