The Multi Time Frame Forex Breakout indicator for Metatrader 4 is a non-lagging MTF technical tool that draws two amazing trend lines.
MTF stands for multi time frame (analysis).
The indicator provides nearly perfect price breakout trade entries in both rising and falling currency markets.
The yellow colored trend line acts as resistance while the purple colored trend line acts as support.
After you downloaded and installed the indicator on the MT4 trading platform, it should look like the image as shown below.
- Price breakout indicator
- Price action, no lag
- Does not repaint
- Well worth adding to your indicator collection
This indicator can work together with any existing trading strategy or system.
Indicator Example Chart
The EUR/USD 1-hour chart below shows the Multi Time Frame Forex Breakout Forex indicator in action.
Basic Trading Signals
- A buy signal is given as soon as price closes above the yellow colored trend line.
- Place stop loss below the previous swing low price (support).
- Exit the buy trade for a predetermined profit target or utilize a risk-to-reward ratio of 1.5 or better.
- A sell signal is given as soon as price closes below the purple colored trend line.
- Place stop loss above the previous swing high price (resistance).
- Exit the sell trade for a predetermined profit target or utilize a risk-to-reward ratio of 1.5 or better.
Download This Forex Indicator
Adjustable Parameters & Settings
Time frame, minimal distance, pop up alert, pop up alert by current tick, colors, style
Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.
More Info About This Indicator
Currency Pairs: works on any currency pair
Trading Platform: developed for Metatrader 4 (MT4)
Time Frames: any
Indicator Type: price breakout
How to install the Multi Time Frame Forex Breakout indicator in Metatrader 4?
- Copy and paste the multi-time-frame-breakout-indicator.ex4 indicator into the MQL4 indicators folder.
- You can access this folder from the top menu as follows:
- File > Open Data Folder > MQL4 > Indicators (paste here)
How to remove the indicator from the chart?
- Right click in the chart
- Select indicators list
- Click on the indicator’s name
- Click on the delete button