Super Breakout Indicator - Forex Trading Indicator for MT4

Description

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Super Breakout Indicator - Forex Trading Indicator for MT4
Super Breakout Indicator allows to take advantage of breakouts in a more flexible way without making the assumption that "boxes" form according to a predictable schedule.
The Super Breakout Indicator indicator can be used on any timeframe.
How to use it:
Entries
- Enter a trade at the close of a bar outside the box. Wait for the current bar to close completely.
Stoploss
- Place a stoploss at the opposite side of the box from the breakout (or add a few pips if the box has a small price range).
Exits
- Exit when the entry rule is met for a trade in the opposite direction.
The user-accessible parameters are:
ROCPeriod - Boxes are formed based on an imbedded ROC indicator. The default here is 2 but I have tried values up to 5 without changing the results much - boxes just start a bit later.
BoxThreshold - This is important. After experimentation I've settled on a default of 12.0 but this may need to be smaller for timeframes shorter than 1 hour (which is the timeframe I recommend).
BoxMinBars - The number of bars in a box before it actually appears on the chart. Default is 3 because it works for me.
BoxColor - self-explanatory.
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