Breakout Box Indicator (BB) indicator for Meta Trader 5 Download - Free - [Trading Finder]

The Breakout Box (BB) Indicator is a tool for drawing price range zones on the MetaTrader 5 (MT5) trading platform. The BB Indicator displays key price ranges using two horizontal blue lines (default settings are red) on the chart. These ranges act as support and resistance lines, and when these lines are broken, the price moves sharply.

BB Indicator Table

Breaking the Price Ceiling

In the 4-hour EUR/USD chart, the BB Indicator identifies key price levels by drawing high and low lines. When the price breaks the 1.08295 range, the price movement begins, and the market sharply enters an uptrend. Traders can enter a buy trade upon observing the breakout of the ceiling range.

Breaking the Price Floor

In the 30-minute GBP/USD chart, the BB Indicator highlights key price levels by drawing horizontal lines on the chart. When the price breaks the 1.27775 range, the price movement begins, and the market enters a downtrend. Traders can enter a Sell trade upon observing the breakout of the floor range.

BB Indicator Settings

• PreviousCandle: Number of candles displayed in the past
• The highest box height (Pipet): Set the range height based on pipet
• The largest box size (Candle): Number of candles per box
• Shift: Set the calculation starting point from which candle
• BoxColor: Choose the box line color
• BoxStyle: Select the line drawing type
• Box Width: Set the line width

Summary

The Breakout Box (BB) Indicator draws horizontal lines on the chart to show key price ranges. Traders can use these price ranges to enter Buy or Sell trades when the price breaks the ceiling or floor levels.