Break and Retest Indicator: The Ultimate Tool for Precision Trading

Discover the Break and Retest Indicator, your key to refined trading strategies. This sophisticated tool, developed with over 1,400 lines of code, enhances trading accuracy by identifying optimal entry points. Perfect for both experienced and novice traders, the Break and Retest Indicator helps you make well-informed decisions with its advanced break and retest strategy.

Understanding the Break and Retest Indicator

The Break and Retest Indicator follows a tested method. Initially, it observes the price as it breaks through crucial support or resistance levels. Following this, it monitors the price’s return to these levels to retest them. The indicator identifies wick rejections, which signal that the level is being defended by traders. After confirming successful wick rejections, it generates buy and sell signals, indicating the best moments to enter a trade.

This approach helps to avoid false signals by focusing on significant price levels and waiting for confirmation. Thus, the Break and Retest Indicator ensures that trading decisions are based on genuine market movements, leading to improved accuracy and reduced risk.

Key Features and Benefits

• No lag or repainting ensures accurate and reliable signals.
• Visual representation of support and resistance levels during retests.
• Buy and sell signals are clearly marked at key retest zones.
• Detailed alerts and notifications provide entry times and levels for better decision-making.
• Versatile application across Forex, Metals, Indices, and Cryptocurrencies.
• Compatible with any timeframe, from minute charts to daily charts.

How to Use the Break and Retest Indicator

To ensure the Break and Retest Indicator functions correctly, check the top left of your MT4 chart. It should display:

Health: Working Ok… Status: Scanning for Break & Retest entries…

For more frequent alerts, adjust the ‘Support & Resistance Sensitivity’ parameter. If the chart data appears limited, consider reducing the processing value from 1000 to around 500. The default ‘c’ value is 2.7, but this can be customized based on the trading pair for improved performance.

Visual Overview

Advantages of the Break and Retest Indicator

In summary, the Break and Retest Indicator enhances your trading strategy with its accurate signal generation and reliable performance. While it cannot guarantee profits, it is an invaluable tool for supporting informed trading decisions and improving overall effectiveness.