What is the 3-Tier London Breakout Indicator for MT4?
The 3-Tier London Breakout Indicator is a technical indicator that helps traders identify when the price of a security is about to break out above or below a specific price level.
The indicator works by plotting the percentage of times a security’s price has broken out from a particular price range over a given period. The three tiers represent different phases that the breakout may go through:
1) The first tier indicates that the breakout has occurred, and the security’s price is now trading above the breakout level.
2) The second tier indicates that the breakout has been sustained, and the security’s price is now trading above its previous high.
3) The third tier shows that the breakout has been validated, and the security’s price is significantly higher than its previous levels.
How to use the 3-Tier London Breakout Indicator for MT4?
This article will discuss using the 3-Tier London Breakout Indicator for MT4.
The 3-Tier London Breakout Indicator is a momentum indicator that uses three moving averages to predict the market’s direction. The first moving average is used to determine if the market is trending upwards or downwards, and the second and third moving averages are used to determine whether the trend has been confirmed.
To use this indicator, you first need to create a buy and sell order at the same price level as your primary Moving Average (MA1 and MA2). Then, you will need to set your expiry time for each order to cover the entire period of your MA1 and MA2. Finally, you need to click on the “Forex” tab in your MetaTrader 4 (MT4) window and activate the “3 Tier London Breakout Indicator.”
3 Tier London Breakout Indicator MT4 trading settings
The Forex 3 Tier London Breakout Indicator is a technical analysis indicator that can help you predict when security or currency will experience a breakout.
To use the Forex 3 Tier London Breakout Indicator, set up your MT4 account and create a new trade. Next, select the “Indicators” tab and click on the “Forex 3 Tier London Breakout Indicator” button. This will bring up the indicator’s settings screen.
The following settings are essential:
– Fundamentals: The fundamentals section shows you how much volume has been traded in the past 24 hours for each currency pair you sell. This is valuable information because it indicates whether there is enough momentum behind the security or currency you are trading.
– Timeframe: You can choose to use either 5, 10, or 15-minute timeframes for your analysis.
– RSI: The RSI indicator measures the relative strength of a security or currency against its peers. When the RSI is over 50%, this indicates strong momentum behind the shield or money, and it may be ready to break out from its current price range.
– MACD: The MACD histogram helps you identify whether there is heavy selling (lower prices) or buying (higher prices) activity going on in
3 Tier London Breakout Indicator Advantages
The Forex Three-Tier London Breakout Indicator is a popular and effective trading tool that can help you make profitable trades. Here are some of its advantages:
– It’s easy to use and navigate.
– It provides accurate and timely signals.
– It’s reliable and user-friendly, even for beginners.
– It has various applications, including stock market analysis, forex trading, and investment analysis.
3 Tier London Breakout Indicator Disadvantages
A few disadvantages are associated with using the Forex 3 Tier London Breakout Indicator. First, it is only sometimes accurate. This is because the indicator considers only a limited number of factors, and as a result, it may give inaccurate predictions.
Second, the indicator can be pretty unstable. This means that it can sometimes give false signals that lead to investment losses.
Last but not least, the indicator is only suitable for some types of markets. It works best when used in trending markets with a lot of volatility and movement between prices. If you use it in a market where prices stay relatively static or stable, you risk losing money on your investments.
LB Indicator installation on MT4
To install the 3-Tier London Breakout Indicator on MT4, follow these steps:
- Download the indicator from the internet or receive it as a file from its creator.
- Open the MetaTrader 4 platform on your computer.
- Click on the “File” menu at the platform’s top, then select “Open Data Folder.”
- A window will open with the MT4 data folder. Double-click on the “MQL4” folder, then double-click on the “Indicators” folder.
- Copy the downloaded indicator file and paste it into the “Indicators” folder.
- Close the MT4 platform and reopen it.
- Click on the “Insert” menu at the top of the platform, then select “Indicators” and “Custom.”
- Scroll through the list of indicators until you see the 3-Tier London Breakout Indicator. Click on it to select it, then click “OK.”
- The 3-Tier London Breakout Indicator will now be applied to the chart. You can customize its settings by right-clicking on the chart and selecting “Indicator List,” then selecting the 3-Tier London Breakout Indicator and clicking on the “Edit” button.
The 3-Tier London Breakout Indicator is a valuable tool to help you identify potential market trends. Remember to set up the indicator, as it can take time to get it to work perfectly in all markets.