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Support and resistance lines are places
where the price can find a barrier to go
further either upward or downward.
If the price breaks one of these lines
it often will go a long way and give the
trader
a great opportunity to get a lot of
pips. This is one of the simplest,
yet most powerful trade set ups.
The Zone Break Out indicator
automatically draws the lines for the
upper zone and a lower zone for the
support
and resistance of a currency pair.
If the price breaks through one of these
zones then we know that a price break
out is occurring and it is time to open
a trade in the
direction of the trend.
Alerts
The Zone Break Out indicator will
pop-up an alert box when the price
touches one of the upper or lower zone
lines.
This alert will tell you that a
possible trade may be coming up.
This can bet set to true or false.
Time Zone
Adjust this value according to the
GMT offset of your broker server time.
Trade Example
See the chart shown below of the
GBPUSD on a 15 minute chart. The
price breaks through the upper
zone line which means their is a
price break out going higher.
Example 1.
Zone
Break Out on GBPUSD 15 minute
chart
The price breaks through the upper
zone line drawn by the indicator and
proceeds to move upward. This
trade would have
made at least 40 pips in a very
short time
Zone Break Out Indicator
Features:
- Support and resistance lines drawn
automatically
- Audible alerts lets you know when
their is a trade opportunity
- Fast and highly accurate trade
signals for early entry
- Works on EURUSD and GBPUSD
currency pairs on 15 minute chart
- Used in manual trading strategies
by itself or in combination with other
indicators
- simple to use
-
Get it free
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