The Multi Time Frame Breakout indicator is a unique breakout indicator that works with multiple time frames at the same time.
The MTFB can be used in all markets and for all instruments. It’s one of the most versatile tools that exist, specially for traders who don’t have enough time to use different indicators according to each market. The MTFB is easy to use and you can trade any kind of breakout with it.
Multi TimeFrame Trend Indicator MT4
MTFB works in 5 different time frames: 1 Minute, 5 Minutes, 15 Minutes, 30 Minutes and 60 minutes. The chart below shows the MTFB’s timeframe menu:
You have a possibility to decide which time frames will be used in your MTFB. In the chart above you can see how many time frames will be used in your MTFB when you select 5 minutes, 15 minutes and 60 minutes. The number of time frames to use is a parameter that must be decided by each trader.
You can select any number of time frames and the indicator will draw a trend line in each one. The MTFB is easy to use and you only have to put your SL and TP for all selected time frames. When one of the lines get broken, it means that a strong breakout has happened.
Breakout Box Indicator MT4
Time Frames: Number of time frames used by MTFB (5 minutes, 15 minutes, 30 minutes or 1 hour)
Use Instantaneous Trend Line: Draws trendline in each time frame (default=no)
Smooth Trend Lines: Draws smoothed trendlines instead of instantaneous ones (default=no)
Limit Breakout Values: If checked, limits breakout values to certain values, otherwise breakout could be unlimited (default=no)
Limit Latitude to Lines: If checked, limits the latitude to each time frame’s trendline to a certain value. When unchecked, there is no limit for stop loss or take profit levels (default=no)
Explanation Example 1: We are trading GBP/JPY with 30 minutes time frame and 15 minutes time frame selected in MTFB. SL 10 pips and TP 20 pips were decided by us. At some point our 30 minutes line gets broken and strong momentum starts pushing the price up. Our 15 minutes line doesn’t get broken yet so we can still trade this situation as long as it goes higher than the 15 minute’s level.
Download Multi Time Frame Breakout Indicator For MT4
Explanation Example 2: At some point our 15 minutes line get broken and strong momentum starts pushing the price down. In this case we can get rid of our position because there is no hidden TP in this time frame.
In the chart below you can see a daily GBP/JPY chart with MTFB indicator. Each block represents a separate time frame, a different colored one means a different timeframe was used inside of MTFB. You can see how each line works separately but at the same time they are very close to each other. This way of representing will help you trade breakout on any time frame level without being confused where to place your SL or TP lines.