The Jebatfx Breakout Trend Line indicator for Metatrader 4 identifies the best buy & sell trendlines on any price chart for accurate trade entry.
The indicator draws a green and red colored trend line on the chart:
- The green trend line will indicate you when it’s time to buy (resistance breakout)
- The red trend line will indicate you when it’s time to sell (support breakout).
In the upper left corner of the chart, you will notice all possible signals and price targets issued by the indicator.
The Jebatfx Breakout Trend Line indicator works for scalpers, day traders and swing traders.
Buy & sell signal:
- Open a buy trade when the candlestick closes above the green resistance trend line.
- Open a sell trade when the candlestick closes below the red support trend line.
- Tip: trade in agreement with the overall trend direction for better performance.
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!
Indicator Chart Example
The picture above shows the indicator attached to the Euro / U.S. Dollar technical chart.
How to install the Jebatfx Breakout Trend Line indicator to your Metatrader 4 platform?
- Download the jebatfx-breakout-trendline.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