Forex Indicator BREAKOUT CHANNEL for MT4, No Repaint
- This indicator can be used as complete trading system based on High/Low breakouts
- It has just 1 parameter - HYSTORY DEPTH, it reflects the number of candles which are taken into consideration by indicator
- Parameter HYSTORY DEPTH recommended values: timeframe D1 - 20 (one month), H4 - 30 (one week), H1 - 24 (one day)
- BREAKOUT CHANNEL consist of 3 lines: High Border - max price of last N ( HYSTORY DEPTH parameter) candles, Low Border - min price of last N ( HYSTORY DEPTH parameter) candles, Middle line.
- Indicator can be used in combitation with other indicators / Price Action patterns
- Examples of BREAKOUT CHANNEL indicator usage can be found on pictures
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