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Asian Breakout Range

Trade price breakouts in the Tokyo session with the Asian Breakout Range indicator. Easily spot the current range and get buy and sell signals when the price breaks above or below the range area.

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Description

Features of the Asian Breakout Range Indicator

The Asian Breakout Range indicator for MT4 is best suited for breakout traders who focus on the Tokyo trading session. It makes it easier to spot the current range and when the price breaks above or below it.

The indicator is quite simple to read. It draws a powder blue rectangular box that shows the price range. Moreover, it writes the prices that make up the range support and resistance and the height of the range in pips. This makes it easier to decide which ranges to trade and which to ignore.

How the Indicator Can Benefit You

The Asian Breakout Range indicator is valuable when your strategy focuses on catching big price breakouts in the Asian session. To use the indicator for trading, wait for it to draw the price range on the chart. Make sure you know and trade with the current trend. If the price is in a downtrend, wait for it to break below the range support for a sell signal. Place your entry with appropriate stops and targets. Meanwhile, when the price is in an uptrend, wait for it to break above the range resistance to place your buy entry.

Although the indicator can be used independently, adding a tool to determine the current trend, like a moving average, can significantly improve your performance.

Indicator Setting Description

Number of Days: This input shows the number of past candles to show the Asian session price breakout zone.

Period A_Begin: This input shows the starting time of period A.

Period A_End: This input shows the ending time of period A.

Next Day A: This input allows you to select the closing price type the indicator considers while determining the period A breakout.

Per.iod B_End: This input shows the ending time of period B.

Next Day B: This input allows you to choose the type of closing price that the indicator will use when calculating the period B breakout.

ReactAB_Color1: Allows you to select the text color of the breakout range info.

ReactAB_Color2: Allows you to select the color of the breakout range box.

ReactAB_Background: Enable/disable showing colored breakout range box.

React A_ color: This input allows you to change the color.

React A_ background: This input enables/disables the background.

React B1_color: This input allows you to change the color.

React B1_background: This input enables/disables the background.

React B1_ band: This input allows you to change the band value.

Reacts B2_color: This input allows you to change the color.

Reacts B2_background: This input enables/disables the background.

Reacts B2_ band: This input allows you to change the band value.

Range txt_color: This input allows you to change the range text color.

OpenClose: Enables/disables this input.

ReactA_close_begin: Enables/disables this input.

PeriodB_ALERTS: Enables/disables period B alerts.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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