Dynamic Breakout Box

Trading Systems Free Forex Trading Systems
1

I tried to post this thread in Newbie Island but had no replies so thought I’d try here:

Hi All,
I downloaded an indicator from fxcodebase for use in FXCM Trading Station called Dynamic Breakout Box. However, I don’t really know how to use it other than buy/sell above/below the lines. Can anyone who has experience with it please explain?

  1. What does the green box represent?
  2. What do the red lines represent? (I assume some type of S/R?)
  3. How is the box calculated?
  4. How often and under what conditions is a breakout box formed?
  5. Does it work in any time frame? ( I have it on 1H in the pic)
  6. Where would you set stops with this strategy?

Thanks!

Dynamic_Breakout_Box_.jpg700×477 28.1 KB

2

Ah, magic boxes - the boxes never lie bro.

Well, gonna cop out here, can’t tell you how to use them. You’ll have to figure that out for yourself. But they are very versatile and form every day on every timeframe.

Probably the most recognizable box is the inside bar pattern. A box is nothing more than an inside bar formed on a lower timeframe. They are one of the few price action based indicators and something that will work for you for years ahead. The secret is to use them, live em, breathe them, love em.

I use them on tick charts and you can do some research here 301 Moved Permanently

Best of luck on your journey bro

3

Hi Chicagobull,

While I’m not familiar with this particular indicator personally, I see from the notes on FxCodeBase.com that it is ported from an MQL4 (MT4) indicator called sqDynamicBreakoutBox.mq4 FXCodeBase.COM: Forex Chart Indicators and Development • View topic - Dynamic Breakout Box

I did a Google search of that file name, found this site with a bit more info on it: SQ Dynamic Breakout Box » Metatrader Files