Shade Session Breakout Forex Indicator For Metatrader 4
The Shade session breakout indicator for MT4 draws a yellow high and low price session box on the chart.
The box can be used to trade price breakouts that occur above the box high price and below the box low price.
- A buy trade will be opened when price exceeds the yellow box high price.
- A sell trade will be opened when price exceeds the yellow box low price.
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Shade Session Breakout Indicator Chart
Here’s an example of how the indicator should look like when loaded onto the Metatrader 4 chart.
You can apply the indicator to any currency pair and time frame of your preference.
Finding Buy and Sell Triggers With Shade Session Breakout Technical Analysis Chart Indicator
Below is an example of how to buy and sell currency pairs with this Forex indicator:
Buy Trigger: Open buy trade when price closes above the Shade session breakout box MT4 indicator high price.
A stop loss can be placed below support, or use your own stop loss strategy.
Exit the buy breakout trade for a fixed profit target of 1:1 reward:risk or better.
Sell Trigger: Open sell trade when price closes below the Shade session breakout box MT4 indicator low price.
A stop loss can be placed above resistance, or use your own stop loss strategy.
Exit the sell breakout trade for a fixed profit target of 1:1 reward:risk or better.
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Colors, width, style.
The indicator can be used as a stand-alone signals indicator.
It can also be combined with:
- Trading oscillators (MACD, Stochastic, RSI,…)
- Trend indicators (Moving Average, Bollinger Bands, ADMI,…)
- Price action methods and techniques
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.