SUPPORT RESSISTANCE BREAKOUT INDICATOR MT4

Support Resistance Breakout Arrows MT5 An indicator for intraday forex traders using a breakout trading strategy. Buy and sell signals based on fractals, CCI, RSI

• The Support Resistance Breakout Arrows indicator for MT5 is essential for intraday forex traders using a breakout trading strategy. The indicator combines Fractal, CCI and RSI to provide the best BUY and SELL arrow signals for forex traders. In addition, the indicator automatically draws major Sup&Res levels and traders can use these support and resistance lines to add additional positions during a strong trend. This  MT5  indicator does not repaint the signal arrow or support and resistance lines.

Support Resistance Breakout Arrows Indicator Trading Signals

• The above GBPUSD H1 chart shows the support and resistance breakout arrows indicator for Metatrader 5 showing support and resistance levels and trading signal arrows. The indicator shows BUY signals with BLUE arrows and SELL signals with magenta arrows. In addition, support levels are highlighted in BLUE and resistance levels in RED.
• Forex traders can BUY when the signal arrow is BLUE. However, there can be more than one BUY signal during a trend. Traders can BUY on each signal and close all positions on the opposite signal. On the other hand, SELL traders can enter positions when the colored Majenta arrows appear.

The indicator is not based on pivot levels. However, it indicates the best Sup&Res lines and zones based on Fractals, CCI and RSI. Traders can use the indicator settings to filter signals using CCI and RSI overbought and oversold levels.

• A significant advantage for beginner forex traders is the automatic detection of strong Sup&Res levels. In addition, the indicator works on all timeframes and is suitable for intraday traders. However, long-term traders can trade on H4, Daily and Weekly timeframes. Another important feature is the lack of repainting. Experienced forex traders can use support and resistance lines to add more positions in the direction of the trend. And adjust the signals in complex trading strategies using multiple timeframes (MTF).

Conclusion

• To summarize, the Support Resistance Breakout Arrows indicator for MT5 is an essential tool to automatically identify Sup & Res levels. In addition, filtering signals using CCI and RSI helps the trader stay in the direction of the trend. However, combining trading signals and Sup&Res breakouts with price action will provide stable and profitable results.