Welcome to Forex-TSD!, one of the largest Forex forums worldwide, where you will be able to find the most complete and reliable Forex information imaginable.
From the list below, select the forum that you want to visit and register to post, as many times you want. It’s absolutely free. Click here for registering on Forex-TSD.
Exclusive Forum
The Exclusive Forum is the only paid section. Once you subscribe, you will get free access to real cutting-edge Trading Systems (automated and not), Indicators, Signals, Articles, etc., that will help and guide you, in ways that you could only imagine, with your Forex trading.
Elite Section
Get access to private discussions, specialized support, indicators and trading systems reported every week.
Advanced Elite Section
For professional traders, trading system developers and any other member who may need to use and/or convert, the most cutting-edge exclusive indicators and trading systems for MT4 and MT5.
Hi,
is it possible to code it for back testing?
I notice that every time you update it start fresh all over.
It will help because it is a great tool for scalping.
Best regards
8021
Tx in advance
Old question but if you want to see the lines where the breakout happens, I suggest finding some donchian channel (price channel) indicator, there are several at this board.
Here is one simple and powerful "indicator" (I'm not sure if this can be called indicator) I want to share that I coded a while ago, it's really useful for quickly identifying breakouts when looking at chart without too much clutter. It's an "MTF" indicator so it can look for breakouts of X bars from different timeframes as well (for example 5 min candle breakouts 20 day range).
Parameters:
Count is a bar range for example 20 means high/low of 20 last bars
Period is a period ie. 60 means 60 min, 1440 D1 and so on
When a breakout occurs (a price goes under period of X bars high/low) at some bar at some moment, it paints the bar green (breakout up) or red (breakout down).
Screenshot and indicator attached, enjoy!
Mikko,
I am an admirer of all your indicators. They are clean and simple to understand. I use MT4 indicators as information tools and not for generating signals. I think you understand this style.
your info tool is undoubtedly the best. If you can have some more statistics included it will be better. Like if it can display Open-Close and High-low of the period in pips it will be excellent. This tool helps in getting rid of fear when one realises the weekly movement from open to close is not that high compared with high-low and it can help plan stop loss and entries.
some kind of box giving daily, weekly, 2 weeks, 4 weeks, 3 months, six months and one year percentage change (in pips) will be extremely useful.
I now use your three tools, breakout candles, info , mtf-candles, CJA's high-low bar plus his other tools of multipivots, multifibos and barry's support and resistance for my trading.
Thank you again for developing nice, clean and user-friendly tools.
Thank you again for developing nice, clean and user-friendly tools.
No prob, I'll develop them for myself for my trading so it's not really that big deal to release them for other people to use.
Meanwhile, here is the latest version of info indicator if anyone is interested (no ranges or such, just some order information in better format + spread)
Dear mikkom ,
mikko_breakout_bar powerful is so powerful .If there is an alert when the colour changes,will be more usefull for me.Can you and an alert for it?
Thank you .
best wishs.
i'm still unclear about the rules. should i buy whenever the green CS appear and sell whenever the red CS appear? what is the recommended TP? tq in advance
Do you ever read your comments before you post them?You seriously need help and attention!The name of the topic is ''Breakout bars indicator'' and the author posted the indicator and the chart in the first page!Your comments are becoming increasingly annoying.You either read and listen others or when you post something ,make some sense!
Linear Mode
