Breakout Pattern

Breakout Pattern Indicator

Forex BUY and SELL signals from the best Breakout Pattern Indicator. Find key breakout levels.

The Breakout Pattern Indicator is a simple MT4 indicator that tells about the market breakouts. The indicator plots open triangles to indicate the breakout. The triangles are composed of two colors, blue and red. The blue triangle pops up in an uptrend, while the red triangle occurs in a downtrend.

Along with the triangles, the indicator also plots arrows on the chart. The appearance of the arrows acts as a confirmation. After the downtrend triangle, there is a red arrow, while after the uptrend, there is a blue arrow. The formation of the pattern is an indication of the trend’s direction. After that, traders can take their positions accordingly.

As breakouts appear on every timeframe, you can use the Breakout Pattern Indicator on every timeframe.

Breakout Pattern Indicator BUY/SELL signals

The above USD/JPY H4 chart shows the BUY and SELL signals with the indicator. To determine the BUY and SELL signals, traders need to look for the triangles. When the red triangle appears in a downtrend, it’s an indication that traders should take short positions.

Conversely, when the blue triangle occurs in an uptrend, it indicates that you need to enter long positions. As mentioned earlier, the arrows’ appearance further confirms the trend’s direction.

What is the best breakout indicator?

Every breakout indicator tells about the breakout patterns. The popular ones include the RSI. You can also use the Breakout Pattern Indicator to find key breakouts.