Breakout Box (BB) indicator for MT4 Download - Free

The Breakout Box (BB) Indicator is a tool in the MetaTrader 4 (MT4) trading platform that identifies price ranges. It draws horizontal lines on the chart to mark resistance and support levels for traders.

BB Indicator Table

Displaying Price Highs with the BB Indicator

The 30-minute EUR/USD chart, the BB Indicator identifies the price highs and lows, displaying a range. When the top of this range is broken, the trader can enter a buy trade. Upon breaking the top of the range, the price moves sharply upward.

Displaying Price Lows with the BB Indicator

In the 1-hour chart of USD/JPY, the BB Indicator identifies the price highs and lows, displaying a range. When the bottom of this range is broken, the trader can enter a sell trade. Upon breaking the bottom of the range, the price moves sharply downward.

BB Indicator Settings

• PreviousCandle: Set the number of candles to display in the past
• The highest box height (Pipet): Set the range height based on the pipet
• The largest box size (Candle): Number of candles in each range
• Shift: Calculation starting point from which candle
• BoxColor: The color of the box lines
• Fill_Box: Fill the inside of the box
• Background: Enable background
• BoxStyle: Type of line drawing
• Box Width: Line width

Summary

The Breakout Box (BB) Indicator draws horizontal lines on equal highs (Double Top) and equal lows (Double Bottom) to highlight significant price ranges. When these ranges are broken, traders can use them as trade entry points.