SDX Zone Breakout Indicator

SDX Zone Breakout Indicator

SDX Zone Breakout indicator For MT4 plots a breakout forex trading using the high and low. Trading zone acts a support and resistance for intraday trading.

The SDX zone breakout indicator for MT4 plots a range based on the high and low after the Asian session and rest of the day. The upper and lower line of the breakout zone acts as a support and resistance. A breakout of this range helps forex traders to anticipate the trend to continue till the end of day.

This indicator is a simple rage based indicator and suitable for new and advanced forex traders. However, new forex traders may benefit the most as this indicator plots a tradable range automatically. Additionally, traders can use this indicator for automated trading strategies. Since the range is based on the daily high and low, it may not be suitable for scalpers. However, intraday forex traders may benefit the most out of this range breakout.

SDX Zone Breakout Indicator For MT4 Trading Signals

The indicator plots gold upper and lower zone lines with a round marking at the breakout of the zone on any direction. A trading strategy is to enter the markets in the direction of the zone breakout.

If the price breaks the upper line traders should consider entering the markets with a buy trade. The best location to place a stop is below the lower level. Traders can book profits with a good RR as this indicator does not provide a profit strategy.

A similar trading strategy can be followed if the price breaks the lower line, indicating a bearish trend signal. In such case, traders should open a sell position.

Conclusion
In summary, the SDX Zone Breakout indicator for MT4 plots a tradable zone for forex intraday trading. Additionally, it establishes a valid and strong support and resistance for the day.