The Daily Box Breakout Window MT4 indicator displays 1 complete trading day in one easy to read box window directly on the main Metatrader 4 chart.
You can easily compare trading days and use this as a trading guide or even as a breakout forex indicator.
For instance, one would go long when the price of the current day exceeds the high price of the previous day high.
On the contrary, one would go short when the price of the current day exceeds the low price of the previous day low.
Do you want to draw another box?
No problem, start and end hour can be changed from the indicator’s input tab.
The USD/CHF H1 chart below displays the Daily Box Breakout Window forex indicator in action.
Basic Trading Signals
No signals from this indicator.
See the description above on how to use it for trading breakouts from previous day high and low prices.
MT4 Indicator Characteristics
Currency pairs: Any
Platform: Metatrader 4
Type: chart pattern
Customization options: Variable (NumberOfDays, Begin Time, End Time) Colors, width & Style.
Time frames: 1-Minute, 5-Minutes, 15-Minutes, 30-Minutes, 1-Hour, 4-Hours, 1-Day, 1-Week, 1-Month
Copy and paste the daily-box-window.mq4 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)