A breakout needs distance and participation. The support resistance breakout arrows indicator draws short lines at recent swing highs and lows, then marks a close beyond the latest one by a quarter of the average range, with tick volume above its average.
This build ships as a compiled .ex4 for MT4 and .ex5 for MT5; the screenshots below come from EURUSD H1.
| Platforms | MT4 (.ex4) + MT5 (.ex5) |
|---|---|
| Chart window | Main price chart |
| Plots | 2: SRBA Buy Breakout, SRBA Sell Breakout |
| Alerts | popup, push notification, email, sound |
| Inputs | 19 |
What each plot looks like
Short level lines and two marks.
`ResColor` `clrTomato` draws resistance lines.
`SupColor` `clrDodgerBlue` draws support lines.
`SRBA Buy Breakout` prints lime with arrow 233.
`SRBA Sell Breakout` prints red with arrow 234.
`ExtendBars` `40` sets each line’s length.
- SRBA Buy Breakout: arrow, lime, width 2, arrow code 233
- SRBA Sell Breakout: arrow, red, width 2, arrow code 234
Working it out
Levels
`SwingBars` `3` bars on each side confirm a swing. The latest swing high is live resistance; `MaxLevels` `30` lines stay drawn.
Distance
`AtrBreakMult` `0.25` of an `AtrPeriod` `14` range must be cleared beyond the level.
Volume
With `UseVolumeFilter` on, tick volume must beat `VolFactor` `1.20` times its `VolPeriod` `20` average. `CooldownBars` `4` spaces same-side marks.
Making sense of the output
Tomato lines are recent swing highs.
Blue lines, in turn, are recent swing lows.
A lime mark is therefore a volume-backed break up.
Likewise, a red mark is a volume-backed break down.
Quiet breaks, however, get no mark.
Finally, `AtrArrowMult` `0.60` spaces the marks.
Alert channels in this build: popup, push notification, email and sound, one message per closed bar.
Volume-backed breaks each send a message. `EnableAlerts` covers them, and the popup is the route that starts on.
Every Support Resistance Breakout Arrows Indicator input
Core settings
| Setting | What it does | Default |
|---|---|---|
SwingBars |
Fractal half-width (pivot strength). Bars on each side of a swing, `3`. | 3 |
AtrPeriod |
ATR period (Wilder) for dynamic break buffer. Range window, `14`. | 14 |
AtrBreakMult |
Break buffer = this * ATR beyond the level. Break distance in ranges, `0.25`. | 0.25 |
CooldownBars |
Min bars between arrows (each side). Wait before repeating a side, `4`. | 4 |
UseVolumeFilter |
Require above-average volume on the break bar. Demand above-average volume, `true`. | on |
VolPeriod |
Bars for average tick-volume baseline. Window behind the volume baseline, `20`. | 20 |
VolFactor |
Break bar volume must exceed factor * average. Volume needed versus average, `1.20`. | 1.20 |
MaxLevels |
Recent S/R lines kept on chart. Lines kept on chart, `30`. | 30 |
ExtendBars |
Length of each drawn level (bars). Line length in bars, `40`. | 40 |
Display settings
| Setting | What it does | Default |
|---|---|---|
AtrArrowMult |
Arrow gap from candle = this * ATR. Mark gap in ranges, `0.60`. | 0.60 |
ShowLevels |
Draw the S/R level lines. | on |
ResColor |
Resistance line color. | tomato |
SupColor |
Support line color. | dodger blue |
Alert settings
| Setting | What it does | Default |
|---|---|---|
EnableAlerts |
(see inputs panel) | on |
EnablePopup |
(see inputs panel) | on |
EnablePushNotify |
(see inputs panel) | off |
EnableEmail |
(see inputs panel) | off |
EnableSound |
(see inputs panel) | off |
SoundFile |
(see inputs panel) | alert.wav |
Where to point it
Volume-backed breaks cluster around session opens. EURUSD H1 is the reference chart, with a few a day. On M15, however, the London open drives most of them. On D1, by contrast, they are rare and notable.
When it will mislead you
Tick volume is a proxy for real volume.
A quarter range is a modest break distance.
Levels only reflect the latest swings.
Only the popup starts switched on.
Copy the compiled Support Resistance Breakout Arrows Indicator file into your MQL4/Indicators folder, and the MT5 build into MQL5/Indicators, then restart the terminal and drag it onto a chart. The step-by-step guide with screenshots is at how to install MT4 and MT5 indicators.
Related on forexmt4systems.com: Support and Resistance Strategy.
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FAQ
What does AtrBreakMult 0.25 add?
Distance. The close must clear the level by a quarter of the 14-bar range, so a bar that closes a pip or two through the line does not count as a break.
Why require VolFactor 1.20 on the break?
Breaks on quiet bars fail more often. Asking for twenty percent more tick volume than usual keeps the marks to breaks with real activity behind them.
Which level does SRBA Buy Breakout test?
The most recent confirmed swing high. Older lines stay on the chart for context, but only the newest one can trigger a mark when a close clears it with volume.
Does SRBA Buy Breakout still print with UseVolumeFilter off?
Yes. Any close beyond the level plus the quarter-range buffer then qualifies. Expect more marks, including many during quiet sessions that tend to fail quickly.
Are results guaranteed?
No. Trading involves risk. Results are not guaranteed; past performance is not indicative of future results. Use the Support Resistance Breakout Arrows Indicator as one input. Always backtest before trading live.
Category: this is part of our Support and Resistance collection. Browse more Support and Resistance for MetaTrader, or explore every MT4 indicator and MT5 indicator on the site.
External references
- For background on this concept, see Foreign exchange market on Wikipedia.
- For broader market context, see Averagedailytradingvolume at Investopedia.
About the author
Written by Dominic Walsh, a Forex trader and MT4/MT5 indicator, Expert Advisor and script developer. Every tool on forexmt4systems.com is tested on live charts before release and ships with ready-to-use compiled MT4 (.ex4) and MT5 (.ex5) files. Learn more about the trader and developer behind this site.
How we build, test and correct every tool: Editorial & Testing Policy. Trading carries risk; see the disclaimer.