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Simple Trade Breakout Forex Indicator For MT5

    The Simple Trade Breakout indicator for Metatrader 5 uses a special trading method for identifying possible Forex breakouts that frequently occur after range trading.

    Trade logic used for breakout trading:

    • When the sea-green line ascends and reaches the zero mark, it indicates a bullish breakout from the local high.
    • Conversely, when the red line descends and hits the zero mark, it signifies a bearish breakout from the local low.
    • The magnitude of the gap from the zero level corresponds to the likelihood of the breakout; a larger gap implies a lower probability of the breakout occurring.

    You have the flexibility to customize the following indicator inputs and parameters: period, price calculation.

    Tip: you can combine the Simple Trade Breakout indicator with other technical analysis tools and various techniques to increase the probability of successful Forex trades.

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    tradebreakout.mq5 Indicator (MT5)

    Chart Example

    The picture below shows how the Simple Trade Breakout indicator looks like when applied to the MT5 charting platform.

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    tradebreakout.mq5 Indicator (MT5)

    Frequently Asked Questions

    How Do I Install This Custom Indicator On Metatrader 5?

    • Open the MT5 trading platform
    • Click on the File menu button located at the top left part of the platform
    • Click on Open Data Folder > MQL5 folder > Indicators
    • Copy the tradebreakout.mq5 indicator file in the Indicators folder
    • Close and restart the trading platform
    • You will find the indicator here (Navigator window > Indicators)
    • Drag the indicator to the chart to get started with it!

    How Do I Edit This Indicator?

    • Click on the open chart with your right mouse button
    • In the dropdown menu, click on Indicator List
    • Select the indicator and click on properties
    • Now you can edit the inputs, colors, levels, scale, and visualization
    • Finally, click the OK button to save the new configuration
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