The Asian Breakout Range forex indicator for Metatrader 4 is used to trade Asian session breakouts.
The indicator draws a colored box ready to trade Asian breakouts either to the upside or downside.
The trading box principle is very easy to understand:
Open buy trade when price exceeds the high price of the box, this is a bullish signal.
Vice versa, open sell trade when price exceeds the low price of the box, this is a bearish signal.
The most interesting currency pairs to trade the Asian box system include USD/JPY, GBP/JPY, EUR/JPY, EUR/USD and GBP/USD.
Feel free to experiment with other forex pairs as well.
The EUR/USD H1 chart below displays the Asian Breakout Range Metatrader 4 indicator in action.
Basic Trading Signals
Signals from the Asian Breakout Range Metatrader 4 forex indicator are easy to interpret and goes as follows:
Buy Signal: Open buy trade when price exceeds the high price of the Asian session box.
Sell Signal: Open sell trade when price exceeds the low price of the Asian session box.
Trade Exit: Use your own method of trade exit.
MT4 Indicator Characteristics
Currency pairs: Any (see preferred forex pairs above)
Platform: Metatrader 4
Type: Chart pattern indicator
Customization options: Variable (Period Begin, Period End, Background) Colors, width & Style.
Time frames: 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour
Copy and paste the asian-breakout-range-indicator.ex4 indicator into the MQL4 indicators folder of the Metatrader 4 trading platform.
You can access this folder from the top menu as follows:
File > Open Data Folder > MQL4 > Indicators (paste here)