Technical Indicators for MetaTrader 5
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MetaTrader 5
Top Rated Products MT5
Overview
KT Asian Breakout indicator scans and analyzes a critical part of the Asian session to generate bi-directional buy and sell signals with the direction of a price breakout. A buy signal occurs when the price breaks above the session high, and a sell signal occurs when the price breaks below the session low.
Things to remember
- If the session box is vertically too wide, a new trade should be avoided as most of the price action has already completed within the session box.
- If the breakout candle is too big, the price often reverses temporarily before continuing to the signal direction.
Features
- Stoploss and profit targets are included with the buy/sell signals.
- KT Asian Breakout indicator constantly checks for its performance using the first, second, or third profit target as a success criterion.
- Displays three essential performance metrics like win/loss signals, success rate, and average pips per signal.
- If the breakout candle is too big, a warning message is displayed on the chart.
Recommendations
- Time-frame: 15 minutes.
- Pairs: All JPY pairs.
Input Parameters
- Draw Session Box: true/false
- Draw Stoploss and Profit Targets: true/false
- Performance Analysis: true/false
- Show Text Analysis(on the top left corner): true/false
- Success Rate Criterion: first-target | second-target | third-target
- Color and Style settings: self explanatory
- Alerts Settings: self explanatory
Developers
// define arrays double Buy_Signal[]; double Sell_Signal[]; double Buy_Stoploss[]; double Sell_Stoploss[]; //define indicator handle int indicator_handle = iCustom(_Symbol,0,"Market/KT Asian Breakout Indicator"); // Copy buffer into arrays CopyBuffer(indicator_handle,0,1,1,Buy_Signal); CopyBuffer(indicator_handle,1,1,1,Sell_Signal); CopyBuffer(indicator_handle,2,1,1,Buy_Stoploss); CopyBuffer(indicator_handle,3,1,1,Sell_Stoploss ); if(Buy_Signal[0]!=0) // Entry condition for Buy if(Sell_Signal[0]!=0) // Entry condition for Sell Buy_SL[0]; // Buy Stoploss Sell_SL[0]; // Sell Stoploss // Fetching targets from the chart double Quick_Profit = NormalizeDouble(ObjectGetDouble(0,"KT_FTP",OBJPROP_PRICE),_Digits); double First_Target = NormalizeDouble(ObjectGetDouble(0,"KT_STP",OBJPROP_PRICE),_Digits); double Final_Target = NormalizeDouble(ObjectGetDouble(0,"KT_TTP",OBJPROP_PRICE),_Digits);
