This indicator Meta Trader 5 shows when there is a break in the market price, either downwards or upwards.
This indicator helps you operate with greater peace of mind.
Breakout: This is when the price passes through a strong support/resistance area, breaking it and renewing the high/low. It helps a lot in decision making during market operations.
Among the most widespread trading strategies, support and resistance operations are among the favorites. Breakout trading is quite challenging precisely because it breaks a historical pattern, that is, a certain price region where most traders feel comfortable. The natural tendency of the price, once a support or resistance region has been broken, is to look for the next region. Thus, if resistance is broken, it tends to turn into support and vice versa. Imagine then, to use the building example, that the support is a kind of floor and the resistance is a ceiling. In price building, every time the ceiling is broken, it becomes the floor and the price tends to look for the ceiling to try to break it. If the price is in a downtrend, it will try to break the floor to be able to go lower in search of a new floor or support. This indicator helps you operate with greater peace of mind.