MT4 Breakout Box (BB) Indicator Download - Free | Forex Indicator Download - MetaTrader 4 Resources

The Breakout Box (BB) indicator is a tool for identifying price ranges in the MetaTrader 4 (MT4) trading platform. It draws horizontal lines on the chart to mark resistance and support levels for traders.

BB Indicator Table

Indicators at a glance

The Box Breakout indicator is a tool used to identify areas of a price range, marking them with two lines at the top and bottom to form a box.

Traders can use these levels as trading tools and exploit breakouts at either level as entry or exit points for trades.

Using the BB indicator to show price highs

On the 30-minute EUR/USD chart, the BB indicator identifies price highs and lows and displays a range. When the top of the range is broken, traders can enter a buy trade. Once the top of the range is broken, price will move sharply upward .

Using the BB indicator to show price lows

On the USD/JPY 1 hour chart, the BB indicator identifies price highs and lows, showing a range. When the bottom of the range is breached, traders can enter a sell trade. Once the bottom of the range is breached, the price falls sharply.

BB indicator settings

• PreviousCandle: Set the number of candles displayed in the past
• Maximum box height (pipettes): Set the range height according to the pipette
• Maximum box size (candles): number of candles per range
• Shift: Which candle to calculate the starting point from?
• BoxColor: color of box line
• Fill_Box: Fill the inside of the box
• Background: Enable background
• BoxStyle: line drawing type
• Box Width: Line width

Conclusion

The Junction Box (BB) indicator, available for the MetaTrader 4 indicator, draws horizontal lines on equal highs (double tops) and equal lows (double bottoms) to highlight important price ranges. When these ranges are broken, traders can use them as trading entry points.