breakout
Info
The breakout is a Indicator for MetaTrader 5 that the indicator shows on a chart high and low levels over the specified time interval, which is set as hours and minutes of the period beginning and end. the indicator shows two zones: "period" and "area".
Usage
This tool is typically used for breakout trading when price moves beyond key support/resistance levels.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use breakout
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
the indicator shows on a chart high and low levels over the specified time interval, which is set as hours and minutes of the period beginning and end.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Session-Based Liquidity Breakout Strategy - another powerful indicator for MetaTrader 5 traders.
the indicator shows on a chart high and low levels over the specified time interval, which is set as hours and minutes of the period beginning and end.
Also recommended: Breakout Distance - Donchian Channel with Distance-to-Trigger Panel in ATR Units - similar indicator with strong performance on MetaTrader 5.
the indicator shows two zones: "period" and "area". when the price is in the period zone, the values of the high and low levels are recalculated.the indicator allows setting:
the hour and minute of the beginning of the "period" zone
the hour and minute of the end of the "period" zone
the hour and minute of the end of the "area"the "area" zone begins right after the end of the "period" zone
it has five input parameters:
"period" hour begin
- the hour of the beginning of the period zone
"period" minutes begin
- the minute of the beginning of the period zone
"period" hour end
- the hour of the end of the period zone
"period" minutes end
- the minute of the end of the period zone
"area" hour end
- the hour of the end of the area zone
"area" minutes end
- the minute of the end of the area zone
fig.1. "period" from 00:00 to 05:00, "area" to 23:00 on the h1 chart
fig.2. "period" from 00:00 to 05:00, "area" to 23:00 on the m15 chart
You may also like: Asian Session Breakout - excellent alternative for indicator users on MetaTrader 5.
Source Code
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⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.