The Breakout Box MT4 Indicator is a straightforward indicator. Prices only move in a trend 20% of the time, as you may well know. Price tends to fluctuate sideways for the remaining 80%. As a result, one may argue that trading ranges or sideways price action rather than trends are preferable strategies.
Instead of drawing the breakout ranges yourself, the indicator draws the breakout boxes for you. You may also choose the indicator’s time span. The breakout indicator is set to start from the first hour of trading in the general settings. The final trading hour may then be specified. The breakout indicator depicts the high and low of the period within this selected time window. The Breakout Box MT4 Indicator is a MetaTrader 4 (MT4) indicator that may be used with any forex trading system or strategy to confirm trade entry or exits.
Indicator Settings
How to Install Breakout Box MT4 Indicator
Download and extract files in the MetaTrader “Indicators” Data Folder found in the Main Menu File section:
The “Indicators” folder is located in the “MQL4” folder.
Restart MetaTrader Platform.
