The Day Trading Breakout indicator for ProRealTime identifies trends reversal. It is a very powerful indicator, which can be used for different breakout strategies.
Setting the dimensional variables, the Day Trading Breakout indicator for ProRealTime allows you to search and study possible reversal zone of any size, detecting them directly on the chart. Thanks to customizable adjustments, it can be used to study any timeframe.
As explained in the following images, the analysis will be displayed on the chart history as reversal boxes and breakout points.
The trends started after the breakout will be measured up to the next reversal point.
With the measurement of the maximum or minimum points reached by the consecutive trend at the rectangle’s breakout, you easily get the useful information to configure the size parameters of the reversal boxes to be identified, thus defining the best suitable strategy for your trading style! Scalping, day trading or even swing trading, everything is possible!
The Day Trading Breakout indicator can be used to identify lateral market phases that persist for a short or a long time. So you are ready for the next breakout to happen!
How it works
In the indicator interface you can select the minimum and maximum size of the reversal boxes in points, and select the size of the filter to manage the detection period. The ‘ViewResults‘ switch is used to display or not the text information about the results of the breakout.
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Advantages of using the “Day Trading Breakout” indicator
- Easy to find opportunities and to trade with
- Automatically identifies the reversal boxes and give signals
- Indicates the past performances: the best way to find the good settings!
- Compatible with all instruments
- Compatible with all ordinary timeframes and even on tick-charts!
- Compatible with Heikin ashi, Renko, Ticks, Kagi, Three Line Break, and more
- The indicator is completely customizable to suit your own trading style
- The indicator does not repaint! The signal is given in real-time and allows you to operate without any delay
- The indicator can be integrated into any automated trading strategy, using ProRealTime’s ProBuilder function