MT4 Block Breaker Indicator is a smart money indicator that displays failed order blocks, so-called Breaker Blocks. Let’s dive into the intricacies of the Breaker Blocks Indicator specifically tailored for MT4 charts and see how it can bolster trading tactics.
What Are Breaker Blocks?
Breaker blocks are distinct from regular order blocks. They are order blocks that did not maintain their status—instead of the price respecting the order block, it penetrates straight through after taking liquidity. In simpler terms, a breaker block is the aftermath of a stop hunt. Stop hunts usually occur when the ‘smart money’ breaches a short-term high or low, then rapidly reverses into the underlying trend. Once the price inverts and retraces into the breaker block, it becomes a hotspot for potential trade entries.
Bullish Breaker Block
This type of breaker is identified as the last upward closing candle in a swing low just before the price marks a higher high. Its validation comes into play when stops below a preceding swing-low are eliminated, and the price reverses, breaking above the swing-high containing the breaker candle.
Bearish Breaker Block
Conversely, a bearish breaker represents the last downward closing candle in a swing high before the price drops to a lower low. This breaker becomes valid when stops located above a preceding swing-high are cleared, causing the price to invert and break below the swing-low that houses the breaker candle.
When prices approach a breaker block, they typically react to the breaker candle’s opening or 50% level (equilibrium).
This Smart Money Concept Indicator isn’t a standalone trading indicator System. Still, it can be very useful for your trading as additional chart analysis, to find trade exit position(TP/SL), and more. While traders of all experience levels can use this system, practicing trading on an MT4 demo account can be beneficial until you become consistent and confident enough to go live. You can open a real or demo trading account with most Forex brokers.
You can set Block Breaker Indicator to send you a signal alert via email, SMS, or platform pop-ups. This is helpful as it means you do not need to stare at the charts all day, waiting for signals to appear, and you can monitor multiple charts simultaneously.
The Breaker Block Indicator can be used on any Forex currency pair and other assets such as stocks, commodities, cryptos, precious metals, oil, gas, etc. You can also use it on any time frame that suits you best.
 | No Minimum Deposit | |
 | Min Deposit of 20$ |
Download a Collection of Indicators, Courses, and EA for FREE
Features of the Block Breaker Indicator
With the Block Breaker Indicator on MT4, traders can enjoy a range of functionalities:
- Display Flexibility: The indicator can highlight both bullish and bearish breaker blocks on the chart. Moreover, users have the choice to display only bullish or bearish breaker blocks, depending on their trading strategy.
- Customizable Candles Lookup: Traders can adjust how many candles the indicator should look back to identify breaker blocks. They can also modify the ‘depth’ setting, allowing for the selection of minor to major swing points. Additionally, the length of the breaker block highlight box is adjustable, offering more clarity on the chart.
- Qualifying Conditions: For a bullish breaker to be qualified, it should first make a lower low. Similarly, a bearish breaker should achieve a higher high to qualify.
- Alert System: One of the standout features is the comprehensive alert system. When a qualifying candle closes, alerts are sent out through popup notifications, push notifications, and emails, ensuring that the trader never misses an opportunity.
In breaker blocks, wicks play an important role. They are crucial when a candle forms a lower or higher high. However, wicks become irrelevant when a candle moves beyond the previous swing point. Instead, the emphasis shifts to the candle’s closing position, which determines the Block Breaker Indicator qualification on the chart.
Input Parameters
- 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 parameter will change the length of the swings)
- Look-back Candle – Set the amount of candles that the indicator will look back to highlight breaker blocks
- Display Option – Allows you to display:
- Both Bullish and Bearish breaker blocks
- Bullish breaker blocks only
- Bearish breaker blocks only
- Hide all breaker blocks
- Additional OB Box Length – Adjusts the length of the breaker block highlight box. IE:
- Zero (0) will extend the box to the current candle
- A setting of 50 will extend the box of 50 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
- Popup Alert – Alert will trigger the popup window and an alert sound
- Push Alert – Alert will trigger a message sent to your cell phone
- Email Alert – Alert will trigger a message sent to your email address
Conclusion
The Block Breaker Indicator for MT4 is an invaluable tool for traders closely following the price action. The indicator streamlines the trading process by providing clear visual representations of breaker blocks and customizable options. Whether you’re an intraday trader or a swing trader, understanding and leveraging breaker blocks can enhance your trading decisions and potential returns.
44
Thanks admin will test it
Did you test it ?
this not even working
Works if you are a SMC Trader
[…] Order Block Breaker […]