False Breakout (Expo) is an indicator that detects false breakouts in real-time. A false breakout occurs when the price moves through a certain level but doesn't continue to accelerate in that direction. This is because the price does not have enough momentum and the buying interest at this level is not high enough to keep pushing the price in that direction. Instead, the market reverses! All breakout traders are now forced to close their positions at a loss. However, contrarian traders that have identified this false breakout do get a perfect entry for a great reversal trade!
False Breakout is one of the most important price action trading patterns to learn because it can help traders understand whether a breakout is valid or false.
█ How to use
Identify False Breakouts
Identify Reversal trades
----------------- Disclaimer
The information contained in my Scripts/Indicators/Ideas/Algos/Systems does not constitute financial advice or a solicitation to buy or sell any securities of any type. I will not accept liability for any loss or damage, including without limitation any loss of profit, which may arise directly or indirectly from the use of or reliance on such information.
All investments involve risk, and the past performance of a security, industry, sector, market, financial product, trading strategy, backtest, or individual's trading does not guarantee future results or returns. Investors are fully responsible for any investment decisions they make. Such decisions should be based solely on an evaluation of their financial circumstances, investment objectives, risk tolerance, and liquidity needs.
My Scripts/Indicators/Ideas/Algos/Systems are only for educational purposes!
@SM_Scalper, Thank you mate! Make some great trades using it!
peacefulEnthus11589
⋅
top, thanks a lot!
californiablue916
⋅
Hi are the certain settings that work best for each time frame? If so where can I find the best settings for the 5min time frame?
sarvx9
⋅
I looked back to like 20 signals from this indicator on a 1 hour..... honestly I'm quiet overwhelmed on seeing this free ....@zeirman bro u got our backs....thanks so much....Im definitely looking forward to your paid subscriptions 👍
Zeiierman
⋅
@sarvx9, Awesome! Thank you! Really appreciate your words!