The 3 Tier London Breakout Indicator for MT4 provides signals based on the London breakout strategy. The London Breakout strategy tries to profit from the trading range preceding the London opening session.
Because London is in a separate time zone, the market opens many hours before the New York session. This provides traders with an excellent opportunity to enter new positions. The Indicator draws buy/sell targets to present an overall picture. The Indicator paints BO on the chart and the number of pips. It means the Breakout is going to happen after this many pips.
The 3-Tier London Breakout Indicator also illustrates boxes on the chart. The types of boxes include; Max/min, limit, and stick. These boxes are in the price range.
3 Tier London Breakout Indicator BUY/SELL signals
The above GBP/USD H4 chart shows the BUY and SELL signals for the Indicator. As the Indicator follows the London Breakout strategy, it shows BUY and Sell entry targets after the appearance of BO.
The good thing about the Indicator is it plots everything on the chart. It mentions Buy/Sell entry targets and Entry Buy/Sell. When the Indicator produces an Entry Buy after the Breakout, it’s a BUY signal. The Buy targets are the profit targets for the long positions.
Conversely, when the Indicator creates Entry Sell, it’s a Sell signal. The Sell targets are the TPs for short positions.
How do you use the London Breakout Indicator?
The Indicator draws price zones to detect BUY and SELL signals. It presents Buy/Sell targets and Entry Buy/Sell to give exact entry and exit points within the zone.
The 3-Tier London Breakout Indicator develops price zones based on a London Breakout strategy. In addition, the Indicator is free to download so anyone can apply it to their forex strategies.