Support and Resistance Breakout Indicator MT5
- Indicateurs
- Eda Kaya
- Version: 1.3
Support Resistance Breakout Indicator (SRBAI) download for MetaTrader 5
The Support Resistance Breakout Arrows (SRBA) indicator serves as a precision tool for mapping key price areas based on pivot structures. Specifically designed for MetaTrader 5 (MT5), the SRBAI indicator marks support zones with blue and resistance zones with red lines. Upon a confirmed breakout beyond these zones, it signals buying opportunities with blue arrows or selling opportunities with red arrows, accompanied by on-screen alerts.
«Indicator Installation & User Guide»
MT5 Indicator Installation | Support and Resistance Breakout Indicator MT5 | ALL Products By TradingFinderLab | Best MT5 Indicator: Refined Order Block Indicator for MT5 | Best MT5 Utility: Trade Assistant Expert TF MT5 | TP & SL Tool: Risk Reward Ratio Calculator RRR MT5 | Money Management: Easy Trade Manager MT5
Indicator Overview
Category | Support & Resistance - Signal Generation - Market Education |
Platform | MetaTrader 5 |
Skill Level | Intermediate |
Type | Breakout - Lagging |
Timeframes | M1, M5, M15, M30, H1, H4 |
Strategies | Scalping - Intraday - Day Trading |
Markets | Forex - Cryptocurrencies - Equities |
Breakout Above Resistance
In a 30-minute chart of Gold (XAUUSD), the price advanced above the resistance barrier located at 2398.09. Following this breakout, the SRBA indicator issued a bullish signal in the form of a blue arrow, marking a potential long trade setup.
Breakout Below Support
On the hourly timeframe for Silver (XAGUSD), a sharp drop pierced the established support line at 29.157. Post-breakout, the SRBA indicator triggered a bearish signal by displaying a red arrow, suggesting a short-selling opportunity.
Custom Settings & Parameters
- RSI_CCI_Filter: Enables refined signal output using RSI and CCI metrics.
- RSI_Period: Sets the calculation window for RSI values.
- RSI_OverBought: Defines the threshold for overbought RSI levels.
- CCI_Period: Determines the CCI computation length.
- CCI_Buy: Adjusts the trigger point for buy signals based on CCI.
- CCI_Sell: Sets the level for sell signals from CCI.
- Alerts: Enables or disables chart alerts.
- Alert_On_Close: Issues alerts only after candle closure beyond key levels.
Conclusion
The Support Resistance Breakout Arrows (SRBA) indicator provides a strategic advantage by highlighting essential price levels and visual signals. By integrating RSI and CCI filters, the SRBA indicator generates actionable buy and sell signals after significant breakouts, making it a valuable tool for traders across various financial markets.