MT5 Breakout Box (BB) Indicator Download - Free | Forex Indicator Download - MetaTrader 5 Resources

The Breakout Box (BB) indicator is a tool for drawing price range areas on the MetaTrader 5 (MT5) trading platform. The BB indicator displays key price ranges on the chart using two horizontal blue lines (red by default).

These ranges act as support and resistance levels , and when these lines are breached, the price can fluctuate sharply.

BB Indicator Table

Indicators at a glance

The Junction Box indicator is a trading tool for traders who wish to identify range-bound areas and their respective highs and lows. By drawing two lines above and below the price, it defines a clear range that traders can use to enter or exit a trade.

Additionally, these levels can serve as support and resistance, and a break above these levels often signals potentially strong price action.

Break the price ceiling

In the 4-hour EUR/USD chart, the BB indicator identifies key price levels by drawing high and low lines.

When the price breaks out of the 1.08295 range, the price action begins and the market sharply enters an uptrend. Traders can enter a buy trade after observing a breakout of the upper range.

Break the price floor

In the 30-minute GBP/USD chart, the BB indicator highlights key price levels by drawing horizontal lines on the chart.

When the price breaks out of the 1.27775 range, the price action begins and the market enters a downtrend. Traders can enter a sell trade after observing a breakout of the bottom range.

BB indicator settings

• PreviousCandle: 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 box
• Shift: Set which candle to start counting from
• BoxColor: Select the color of the box line
• BoxStyle: Select the line drawing type
• Box Width: Set the line width

Conclusion

The Breakout Box (BB) indicator acts as a trading aid for MT5 and draws horizontal lines on the chart to show key price ranges. Traders can use these price ranges to place buy or sell trades when price breaks through the upper or lower limits.