False Breakout - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources - MetaTrader 5 Resources

The "False Breakouts.mq5" indicator is designed to identify and mark on the chart:

It uses buffers to store this information and displays it on the chart, making it easier to visually analyze false breakout patterns.

The indicator uses 6 buffers to store data and 6 plots to display it on the chart:

Identification of top and bottom:

Update support and resistance:

Buy and sell signals:

Combine a moving average with ATR-based upper and lower limits to act as a trend filter and volatility channel.

This indicator is a utility that displays marked trading levels on any chart. If you want to replace the native trading levels on the native chart, turn off "Show trading levels" in F8 chart properties and attach this indicator. If you want to display trading levels on a custom chart (local trading levels cannot be displayed), then just attach this indicator. BaseSymbol - specifies the symbol from which trade-level data will be extracted - very convenient for unique custom symbols. TextBarsBack - specifies the number of bars back in history from the current bar to which level labels are drawn. Note: Although the magic number is referenced in the code, it is not currently included in the transaction line. If you are running multiple EAs on the same symbol, you can edit the code to display the magic number and then run multiple instances of the indicator on one chart. You can also edit the font size and text spacing in the object properties as needed for different display resolutions.

It is an indicator used to determine market trends, support and resistance levels. It is calculated using MFI when volume data is available, and RSI when not. Momentum: RSI and MFI Volatility: ATR

This indicator shows multiple levels of the ATR channel.

Attachment download

📎 rompimentosfalsos.mq5 (7.91 KB)

Source: MQL5 #56972