Intraday Channel Breakout Indicator For MT4

The Intraday Channel Breakout Forex indicator for Metatrader 4 draws an intraday channel on the chart that can be used for precise buy & sell trade entries.

The indicator pops up on the main chart as a green/gray/red colored buy/sell price breakout channel.

Scalpers and day traders can benefit the most from this indicator.

Buy & sell signal:

  • A buy signal is given when the candlestick closes above the upper green intraday channel horizontal line.
  • A sell signal is given when the candlestick closes below the lower red intraday channel horizontal line.

From our testings, 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 strategies.

Try first on a demo account until you fully understand how this indicator works!

Free Download

Download the intraday-channel-breakout-indicator.mq4 indicator file (MT4)

Indicator Chart Example

The picture above shows the indicator attached to the U.S. Dollar / Japanese Yen chart.

How to install the Intraday Channel Breakout indicator to your Metatrader 4 platform?

  • Download the intraday-channel-breakout-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