Fx Breaker Block Indicator

Description

• Displays both bearish and bullish break blocks
• Option to show only bearish or bullish breaker blocks
• Make adjustments to the number of candles needed to check back for block breaker blocks
• Adjustable depth setting for the selection of major and minor swing-points
• Change the length of the highlighter box
• Alerts to Popup, Push & Email

Breaker Blocks MT4 Indicator

• Depth of Zigzag (Minimum 4 Maximum 36) This setting will determine the number of bars that must be used that can be used without the second maximum or minimal deviation for the bar (Changing the parameters of this setting will alter the duration of swings)
• Look-back Candle Set the number of candles the indicator looks back at to highlight blocks of breaker
• Display Option It allows you to show:
  • Both Bullish and Bearish breakers
  • Blocks that are bullish only
  • Only bearish breaker blocks
  • Hide all blockers to breaker
• Additional OB Box Length adjusts the length of the highlight box. IE:
  • Zero (0) will extend the box beyond the current candle
  • The setting 50 will allow the box to hold 50 candles over the breaker block’s qualifying candle and so on.
• Breaker Box Filling Option Fill Option for Breaker BoxChoose to highlight the breaker box as an outline or an ‘filled’ color box
• Bull Breaker Box color –Select the color you prefer
• Bear Breaker Box color– Choose the color you want to use
• Alerts
  • Popup Alert Alert will trigger the pop-up window and sound alert.
  • Push Alert – Alert will trigger a text message sent to your mobile phone
  • Email Alert – Alert will trigger a text message delivered to your email address

A little refresher course on Breaker Blocks:

Breaker blocks are essentially they are an order block that didn’t hold (price didn’t take it seriously and broke through) after taking liquidity.

Breakers are created by stop-hunts conducted in the general case of smart money has taken advantage of a short-term high or low, then quickly reversed back into the trend that was underlying. When price reverses, and then reverses back to the block that broke it (mitigating the losses) This is when we should focus on potential trade entries.

The Bullish Breaker block:

A Bullish breaker can be described as the candle that closes up in an upward swing prior to price making a higher-high. It becomes valid after the stops are taken below a previous swing low and price reverses, then is above the swing-high which includes the candle that is a breaker:

The Bearish Breaker block:

A Bearish breaker is the final candle that closes down in a high swing before price setting lower lows. It is valid when stops are placed above a previous high in the swing and price reverses, then breaks below the swing low which includes the candle of the breaker:

When price reverts to a Blocker block:

• It should either react to the open or 50 percent threshold (equilibrium) of the candle that is a breaker.

Indicator Display Options:

 

The Alert triggers when the ‘qualifying’ candle CLOSES:

 

The trade entry occurs later, if/when price retraces to the breaker block to mitigate::

What’s the deal with Wicks?

• Wicks DOcount for the candle that creates the lower low, or the higher high.
• Wicks do not include the candle which is broken lower or higher than the prior swing point to qualify for the breaker block. this candle must end below or above in order for the break block to appear on the chart.

Only Bullish Breakers with an LOWER LOW FIRST can qualify as breaker

Notice: WICKS DO COUNT(as well as the candle’s body) for the bearish candle that creates this lower low.

WICKS that break BELOW the previous swing high do not countand aren’t eligible to show the breaker box (and activate the alarm). A candle must close above the previous high to be able to qualify the breaker block.

Only Bearish Breakers with the HIGHER HIGH FIRST are qualified as breaker

NOTE: WICKS DO COUNT(as well as a candle’s body) for the bullish candle that creates this HIGHER high.

 

WICKS that break below the previous swing-low DON’T COUNT and do not qualify to highlight the breaker box (and trigger the alert). A candle must CLOSE below the previous swing-low to qualify the breaker block