Forex Breakout Sniper MT4 Indicator

Forex Breakout Sniper MT4 Indicator:

About the Forex Breakout Sniper MT4 Indicator

Breakout Sniper draw trendlines by using improved fractals and plots the breakout and reversal points.

NO REPAINTS

By using the Multi Period and Multi Timeframe

– Easily identify the potential reversal and breakout levels.

– Plot the patterns like triangles, head and shoulders, wedge patterns, cup and handle patterns etc.

– Indicator draws arrows only when a breakout happens.

– You can see the uncompleted/forming trendlines as well.

INPUTS:

Signal Mode: After Close ( Puts Arrow after the candle closing above/below the trendline )

Instant (  Puts Arrow as soon as the price breaks above/below the trendline )

Time Frame 1  : Choose the TF

Fractal Period : Enter the period for the chosen TF

Time Frame 2 :  Choose the TF

Fractal Period :   Enter the period for the chosen TF

Time Frame 3 :   Choose the TF

Fractal Period :   Enter the period for the chosen TF

 

*** If you would like to see only one TF and one period, set the others same as the first one.

Colors :

* Chose the colors of the Completed Trendlines.

* Colors 1 … For the first TF and Period

* Colors 2 … For the second TF and Period

* Colors 3… For the third TF and Period.

NOTES

  • Colors of the uncompleted lines are set NONE as a default. Chose a color if you would like to see the uncompleted/forming lines.
  • If there are same trendlines in different TF and/or Periods, the color of the bigger TF/Period are shown on the chart.
  • To test the bigger timeframes on strategy tester, the more history must be loaded.

Test results:

Forex Breakout Sniper MT4 Indicator

Copy and paste the file into the MQL4 Indicators folder of the Metatrader 4 trading platform.

You can access this folder from the top menu as follows:

File > Open Data Folder > MQL4 > Indicators (paste here)

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