TOP Ultimate Breakout Indicator
MT4 Market Levels TradingFree DownloadThe TOP Ultimate Breakout Indicator for MT4 is a simple but effective system designed to recognize and provide breakout levels in the forex market. It plots them directly on charts and helps to identify best entry and exit points and profit target as well. Let’s see how solid this strategy can be.
When you load the gauge in your trading platform, you will notice channel-like formation with blue bottom band and green top band. More imprortantly, there are three horizontal lines and each of them has specifc role and meaning. We will describe them further, but get familar with example chart first.
As you can see, it just corresponds to the above description. The idea that guided the creators was simplyfing the decision-making process, which means traders shouldn’t have doubts when to jump in, how to place stop loss or when exit a trade. What’s more, once can take signals as the are or introduce additional technical indicators for further confirmations.
How to utilize these breakout signals?
This is a pretty comprehensive system that provides almost everyting that’s needed for holistic view. First element of its anatomy is a blue/green line and it serves as dynamic support and resistnace zones. You should always place your SLs in a distance of few pips of that zone – here often rejections take place and you can observe lots of pin bars.
The key element is white line as it shows entry level, once price breaks it, you can trigger a trade. The yellow and pink lines are the first and second take profit targets. When price reaches yellow target you can secure part of gains and let it run until touch of final pink target.
Additionally, there is a buy/sell label in the top left corner of the chart. This is ultimate and super-clear confirmation of a current signal.
Summary
It turns out that this is a good and reliable forex indicator. It combines necessary aspects of profitable trading and when you additionally apply wise money management rules the potential outcomes may be at least satisfactionary. In the end, it’s not overly complex, thus it’s a good fit both for beginners and experts.
