TradeBreakOut - MetaTrader 5 Script | Forex Indicators Download - MT4/MT5 Resources
Real author:
The TradeBreakOut indicator shows the distance from the actual price (closing price or high/low price) to a breakout of the recently set support or resistance levels, which are defined using local maxima and minima.
When the green line reaches the zero point and moves upward, it indicates a bullish breakout of the local maximum. When the red line reaches the zero point and moves downwards, it indicates a bearish breakout of the local minimum. The further away from level zero, the less likely it is to break through.
Figure 1 TradeBreakOut indicator
Attachment download
📎 tradebreakout.mq5 (6.74 KB)
Source: MQL5 #1600
TradeBreakOut - MetaTrader 5 script | Forex indicator download - MT4/MT5 resource usage and screening suggestions
TradeBreakOut - MetaTrader 5 Script | Foreign Exchange Indicator Download - MT4/MT5 resources are foreign exchange indicator related resources. Before downloading or referencing, it is recommended to confirm the platform version, transaction type, time period, whether DLL is required, whether source code is included, parameter description and historical update records.
Both automated trading tools and foreign exchange indicators should first undergo backtesting, simulated account observation, and small capital verification. Pay special attention to spreads, slippages, maximum drawdowns, position opening frequency, stop loss methods, trading periods and broker rules, and avoid direct real-time execution based on titles or short-term profit descriptions.
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