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Fx Breaker Block Indicator Review
Forex trading has evolved over the years with the aid of technical analysis, and indicators play a significant role in this evolution. One such indicator that’s making waves in the forex community is the “Fx Breaker Block Indicator”. Here’s why it should be an essential tool in your trading arsenal.
Breaker Block Indicator
For traders aiming to capitalize on market dynamics, this tool is a game-changer. It enhances entry decisions by identifying when Breaker Blocks are formed and indicating potential price mitigation points.
Version: V1.09
Terminal: MT4
Year of issue: 2022
Working pairs: ANY
Recommended timeframe: ANY
Best Brokers List
Fx Breaker Block Indicator works with any broker and any type of account, but we recommend our clients use one of the top forex brokers listed below:
Fx Breaker Block Indicator Settings:
Depth of Zigzag (Minimum: 4, Maximum: 36) – This setting determines the minimum number of bars without a second maximum or minimum deviation of the bar (Changing this setting parameters will change the length of the swings). IE: A smaller number will highlight minor swing-points, and a higher number will highlight more major swing-points…
Look-back Candle – Set the amount of candles that the indicator will look back to highlight breaker blocks (from the current candle and back in time)
Display Option – Allows you to display:
o Both Bullish and Bearish breaker blocks
o Bullish breaker blocks only
o Bearish breaker blocks only
o Hide all breaker blocks
Additional OB Box Length – Adjusts the length of the breaker block highlight box. IE:
o Zero (0) will extend the box to the current candle
o A setting of 1 will extend the box 1 candle past the breaker block qualifying candle
o A setting of 10 will extend the box 10 candles past the breaker block qualifying candle, etc
Breaker Box Fill Option – Choose to highlight the breaker block box as either an ‘outline’ or a ‘filled’ color box
Bull Breaker Box color – Select the color of your choice
Bear Breaker Box color – Select the color of your choice
Alerts
o Popup Alert – Alert will trigger the popup window and an alert sound
o Push Alert – Alert will trigger a message sent to your cell phone (if you have the ‘push’ notification activated in your MT4 Options)
o Email Alert – Alert will trigger a message sent to your email address (if you have the ‘email’ notification activated in your MT4 Options)
Key Features
- Diverse Display: Whether it’s bullish or bearish breaker blocks, get them all or filter based on your preference.
- Customizable Timeframe View: Adjust your view based on how many candles you want to consider.
- Swing-point Depth: Modify settings to identify either minor or major swing-points.
- Highlight Box Customization: Determine the length of the breaker block highlight box to match your analysis needs.
- Alerts & Notifications: Whether it’s a popup, push, or email, get instantly notified of potential trade opportunities.
- In-built Protective Mechanisms: Some settings ensure that your MT4 doesn’t crash, ensuring smooth operation.
Understanding Fx Breaker Blocks: A Primer
Breaker blocks are order blocks that didn’t maintain their position, i.e., the price moved through them without resistance after taking liquidity. Their formation usually happens when there’s a stop hunt, generally a scenario where the ‘smart money’ breaches a short-term high or low, quickly reversing into the main trend.
Bullish Breaker Block: This alerts when the price CLOSES above a former swing-point. However, it only does so if that specific swing-point previously established a LOWER LOW before the price took an upward turn.
Bearish Breaker Block: This alerts when the price CLOSES below a prior swing-point. However, it only does so if that specific swing-point had previously set a HIGHER HIGH before the price took a downward shift.
Trade Dynamics with the Breaker Block
When the price meanders back to a Breaker Block, expect a reaction. This is the sweet spot for traders. Typically, the price should respond to either the opening or the 50% equilibrium level of the breaker candle, providing traders with potential entry or exit points.
Breaker Block Indicator Live
Final Thoughts
In the ever-changing world of forex trading, staying ahead is paramount. With the Fx Breaker Block Indicator, you have an advanced tool to guide your trading decisions, capitalizing on market dynamics, and potentially increasing your profitability. Always remember, while indicators provide a lens to view market movements, it’s essential to integrate them with a holistic trading strategy.
Download Breaker Block Indicator
Please try for at least a week an XM demo account. Also, familiarize yourself with and understand how this free forex ea works before using it on a live account.
Disclaimer: All trading involves risks. It’s essential to do your own research and consider seeking advice from a licensed financial advisor before making any trading decisions.
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