Breakout and Retest Scanner V1.18 Indicator

Breakout and Retest Scanner V1.18 Indicator MT4 – A Complete Guide

The Breakout and Retest Scanner V1.18 Indicator for MT4 is a powerful tool designed to help traders spot these key trading opportunities with precision and efficiency. In this comprehensive guide, we’ll explore the features, benefits, and how to use this indicator to enhance your trading performance.

What is the Breakout and Retest Scanner V1.18 Indicator for MT4?

The Breakout and Retest Scanner V1.18 Indicator is a sophisticated forex trading tool designed to detect potential breakout zones and retest levels in real time. This indicator helps traders by scanning multiple currency pairs and timeframes to identify high-probability trading setups, allowing them to enter trades with confidence.

Key Features:

• Real-time breakout detection: Identifies key breakout points across multiple timeframes.
• Retest confirmation: Alerts traders when the price retests a breakout level, providing a second chance to enter.
• Multi-timeframe scanning: Allows traders to monitor various timeframes simultaneously.
• Customizable alerts: Provides notifications via sound, pop-up, email, or mobile push notifications.
• User-friendly interface: Easy to use and integrates seamlessly with the MT4 platform.

How Does the Breakout and Retest Scanner V1.18 Indicator Work?

1. Detecting Breakouts: The indicator scans for price movements that break above resistance or below support levels.
2. Confirming Retests: If the price revisits the breakout level, the indicator issues a retest signal, confirming a high-probability trade setup.
3. Providing Alerts: Once a breakout and retest are identified, the trader receives an alert, allowing them to take action promptly.

Why Use the Breakout and Retest Scanner V1.18 Indicator?

With precise breakout and retest signals, traders can avoid false breakouts and improve their trading accuracy.

Instead of manually analyzing charts, the scanner automatically detects trading opportunities, saving traders valuable time.

From M1 to D1, the indicator scans different timeframes, ensuring traders never miss a potential setup.

This indicator can be used in different trading strategies, including trend trading, range trading, and scalping.

How to Use the Breakout and Retest Scanner V1.18 Indicator for MT4

• Download the Breakout and Retest Scanner V1.18 Indicator file.
• Open MT4 and go to File > Open Data Folder.
• Navigate to MQL4 > Indicators and paste the file.
• Restart MT4 and attach the indicator to your preferred chart.
• Select Timeframes: Choose which timeframes you want to scan.
• Set Alerts: Enable notifications via pop-up, sound, email, or mobile push.
• Adjust Sensitivity: Modify breakout sensitivity based on market conditions.
• Look for breakout signals and wait for price retests.
• Use additional indicators like moving averages or RSI for confirmation.
• Execute trades with appropriate risk management.

Best Trading Strategies Using Breakout and Retest Scanner V1.18

• Wait for a breakout above resistance or below support.
• Wait for the price to retest the breakout level.
• Enter the trade in the breakout direction after confirmation.
• Set a stop-loss below the retest level and a take-profit at the next key level.
• Use the scanner to identify breakouts in the direction of the trend.
• Confirm with a trend indicator like Moving Averages.
• Enter a trade after the retest and ride the trend for higher profits.
• Apply the indicator on M1 or M5 charts for short-term trades.
• Look for quick breakout and retest confirmations.
• Use tight stop-losses and take small profits frequently.

Recommended Settings for Optimal Performance

• Timeframes: M5, M15, H1 for intraday trading; H4, D1 for swing trading.
• Breakout Sensitivity: Adjust based on market volatility.
• Alerts: Enable mobile push notifications to stay updated on trade opportunities.