Introduction to the Multi Time Frame Breakout Indicator
The Multi Time Frame Breakout indicator is, as the name suggests, a forex trading tool that utilizes a breakout strategy.
The indicator displays two trendlines – once the price breaks one of them, a trader should open a trade according to the breakout direction.
It fits all kinds of timeframes and currency pairs.
The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences.
How to set up the Multi Time Frame Breakout indicator in MT4?
Copy and paste the multi-time-frame-breakout-indicator.ex4 or multi-time-frame-breakout-indicator.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform.
You can gain access to this folder by clicking the top menu options, which goes as follows:
File > Open Data Folder > MQL4 > Indicators (paste here).
Now go to the left side of your MT4 terminal. In the Navigator find the gauge name, right-click it and select Attach to the chart.
The Multi Time Frame Breakout indicator is well worth adding to your trading collection but remember about having realistic expectations. Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it.
Multi Time Frame Breakout Indicator Free Download
To download the Multi Time Frame Breakout Indicator for Metatrader 4 (MT4) for free just click the button below: