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Monday, April 21, 2008

About The Breakout Indicator

I put the link to download the breakout indicator on my previous post. The breakout system itself, as I said, use the high and low from the day open until 3 GMT. First of all, you must know which time your platform use, because some use GMT, GMT+1, or GMT+2. Second, the indicator cannot cross the period separator. For example, you cannot use it to find high and low between 22 GMT and 2GMT. Third, it actually start 1 candle after the begin time. See the picture below.


I set the begin time to 0 GMT (Day Open). But the indicator doesn't count the opening candle. It starts from the next candle at 1 GMT (See picture below). The blue shaded area is 57 pips away from the high and low.

Okay that is all. Just thought you should know:)

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