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Breakout and Retest Scanner mt4

Original price was: $99.00.Current price is: $29.98.

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Description

The breakout and retest strategy is a well-known trading approach based on identifying and trading key support and resistance levels. This strategy capitalizes on price movements that break through these levels and then confirm the breakout through a retest. It is a favorite among traders for its simplicity and reliability when executed correctly.

Breakout and Retest Scanner mt4 Breakout and Retest Scanner mt4 Breakout and Retest Scanner mt4 Breakout and Retest Scanner mt4


Key Objectives of the Breakout and Retest Strategy

  1. Avoiding False Breakouts
    False breakouts are a common challenge in trading. They occur when the price initially appears to break out of a key level but quickly reverses back within the range. The breakout and retest strategy helps traders avoid such traps by waiting for confirmation through a retest before entering a trade.Example:
    A candlestick breaks above a resistance level, but the next candlestick closes back below the same level. In such cases, the breakout is likely false, and entering the trade prematurely could result in losses.
  2. Confirming a New Trend
    When a price breaks through a resistance level and then retests it from the other side, it often signals the beginning of a new trend. This retest confirms that the broken resistance level has now turned into support, providing a strong basis for entering the trade. Similarly, a broken support level that turns into resistance signals a bearish trend.

Breakout and Retest Scanner: A Game-Changer for Traders

Manually identifying breakout and retest patterns across multiple charts and timeframes can be time-consuming and prone to errors. This is where the Breakout and Retest Scanner comes in, revolutionizing how traders approach this strategy.

What Does the Scanner Do?

  • Pattern Recognition: Automatically identifies potential breakout and retest patterns across multiple symbols and timeframes.
  • Fibonacci Calculations: Integrates Fibonacci levels to enhance accuracy in identifying optimal entry, stop-loss, and take-profit points.
  • Alert System: Sends real-time alerts and push notifications to your mobile, ensuring you never miss a trading opportunity.
  • Efficiency: Allows traders to monitor multiple charts simultaneously without manual calculations or pattern identification errors.

How It Works

  1. Add the Breakout and Retest Scanner indicator to your chart.
  2. Press the “Scan” button.
  3. The scanner processes all symbols and timeframes, highlighting possible patterns.
  4. It provides clear signals with:
    • Entry Points: Indicating the optimal level to enter a trade.
    • Stop-Loss: Protecting against significant losses by setting a predefined risk limit.
    • Take-Profit Levels: Suggesting potential exit points for maximizing gains.

Why Use the Breakout and Retest Scanner?

  1. Accuracy and Speed: The scanner eliminates human error and provides instant analysis, saving traders time and improving precision.
  2. Ease of Use: The default settings are optimized for most trading scenarios, allowing traders to start using the indicator immediately.
  3. Clear Signals: With entry, stop-loss, and take-profit levels clearly defined, traders can make confident decisions without second-guessing.
  4. Mobile Notifications: Stay updated with push alerts, even when you’re away from your trading setup.

Conclusion

The breakout and retest strategy is an invaluable tool for traders aiming to enhance their success rate and confirm market trends. Coupled with the Breakout and Retest Scanner, it becomes even more powerful, offering traders efficiency, accuracy, and confidence in their decisions. Whether you are a beginner or an experienced trader, this approach can significantly improve your trading outcomes.

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