Breakout Box with Arrow Indicator for MT4 Download – Free – [TradingFinder]

The Breakout Box with Arrow indicator on the MetaTrader 4 platform is designed to display the breakout of key pricelevels in various markets, including Forex.

Based on the input data in the settings section, this trading tool plots levels above and below the price. These levels are displayed as boxes; if a breakout occurs, the indicator marks them.

Specification Table of Box Breakout Indicator

The table below presents the technical specifications and features of the Breakout Box with an Arrow indicator:

Buy Signal 

In the USD/JPY chart, the price breaks above the specified range and makes a sharp upward move.

At this moment, the Breakout Box with Arrow indicator displays a bluearrow on the chart, signaling a buying opportunity and providing a suitable entry point for a buy trade.

Sell Signal

According to the USD/CAD currency pair in the analysis of the 1-hour time frame, the price drops below the bottom of the box, and a candle closes outside the range.

The indicator detects this breakout and uses a pinkarrow to issue a sellentrysignal.

Breakout Box with Arrow Indicator Settings

The image below relates to the settings of the Breakout Box with Arrow indicator:

• PreviousCandle: Set the indicator display value based on the candle
• The highest box height (Pipet): Range height based on pipet
• The largest box size (Candle): Range size based on candles
• Shift: Move to the right by a specific number of candles
• BoxColor: Box line color
• BoxStyle: Box line style
• Box Width: Box line thickness

Conclusion 

The Box Breakout Indicator identifies key price zones by drawing horizontal lines on highs and lows. When these zones are broken, buy and sell signals appear as colored arrows on the chart.

The Breakout Box indicator is a practical tool in technical analysis and is compatible with various tradingstrategies.