Hello traders,
Please find below the inputs documentation for each parameter of Easy Breakout.
1) LookBack Bars (0=Disabled) = 5000
The first input is called Lookback, with a default setting of 5000 bars. Easy Breakout uses a statistics dashboard, and this input controls how many past signals are displayed based on the number of bars you select. A higher number means the indicator will look further back to display more signals. Since the indicator is very light, you can easily increase this number without any issue.
General Settings
2) Max Breakout Length (Bars) = 200
It’s the maximum length of previous bars to search for breakouts
3) Support and Resistance Width (%) = 3%
This input defines the width of the support and resistance zones within the breakout area. A higher value results in larger S/R boxes.
4) Min. Number of Tests before Breakout: 2
The minimum number of attempts the price has made to break through the support or resistance level.
Arrow Settings
5) Arrow Size: 3
This parameter controls the size of the arrows for buy and sell signals. A higher value results in larger arrows.
6) Up Arrow: DeepSkyBlue
That is the color of the buy arrow signal.
7) Down Arrow: Tomato
That is the color of the sell arrow signal.
Zone Settings
8) Up Zone: DeepSkyBlue
That is the color of the support zone.
9) Down Zone: Tomato
That is the color of the resistance zone.
10) Fill Background: true
This parameter allows you to fill the background with colors representing the resistance and support zones. If set to false, the zones will remain transparent.
Take Profit Settings
11) Show Fibonacci Take Profit Levels: True
This input automatically shows all 5 take profits based on Fibonacci Levels.
TP-1 Fibo Levels until TP-5
These are the default Fibonacci take-profit levels expressed as percentages. We recommend keeping them at the default settings, as we believe they represent the optimal values.
12) Extra Pips Added to SL: 700
By default, the indicator sets the stop loss at the support or resistance zone just below or above the breakout. You can add extra pips to the original stop loss for more trading flexibility. Setting this to 0 will use the original stop loss without any additional pips.
13) TP Color: Khaki
You can change the color of the Fibonacci take profit levels.
14) SL Color: Magenta
You can change the color of the stop loss level.
Alert Settings
15) Enable Pop-up Alerts: True
You will automatically get Breakout alerts on your MT4 terminal.
16) Enable Alerts via email: True
You will automatically get Breakout alerts to your email.
17) Enable Notifications Mobile: True
You will automatically get Breakout alerts through push notifications on your phone.
Panel Settings
18) Show Panel: True
This parameter controls the display of the Easy Breakout statistics dashboard. Setting it to false will hide the panel.
19) Panel Size: 250
This parameter adjusts the overall size of the dashboard panel. Lower values make the panel smaller, while higher values make it larger.
20) X and Y Shift
These inputs allow you to manually move the panel to any location on your MT4 chart.
21) Gap in pixels
This parameter sets the spacing between the text elements within the Easy Breakout dashboard.
22) Font name: Arial Black
This parameter sets the font inside the Easy Breakout dashboard.
23) Font size: 10
This parameter adjusts the font size of the Easy Breakout dashboard. Increase the value for larger text or decrease it for smaller text.
24) Font Color 1: Yellow
This parameter is the color of the statistics text inside the Easy Breakout Dashboard.
25) Font Color 2: White
This parameter is the color of the results text inside the Easy Breakout Dashboard.
26) Enable Win-Rate: True
This parameter is able to show or hide the success rate inside the Easy Breakout Dashboard.