False Breakout Stochastic For The Trade station platform
False Breakout Stochastic Trading Indicator For The Trade station platform
False Breakout Stochastic
The False Breakout Stochastic automatically indicates strong trend moves by printing Yellow Dots in the Overbought zone for strong Bullish moves. Then in the OverSold zone for strong Bearish moves.
The indicator looks for criteria involving the %K and %D Stochastic lines having a false breakout crossovers against the main trend and then crossing back over.
Once the Stochastic breaks free of this false breakout state and moves to the opposing overbought or oversold zone and crosses in that opposing zone. It has a high probability of wanting to return to the zone where the Yellow False Breakout Dots were printed. This helps traders to enter trades after pullbacks against a main trend.
Please view the chart images on the left to help visualize how simple it is to use the False Breakout Stochastic to confirm entries after pullback against the main trend.
Whether Swing Trading, Intra-day or Day Trading, our adjustable False Breakout Indicator is a powerful tool that looks for and indicates trend strength and direction on any timeframe!
What do you get
False Breakout Stochastic for the Trade Station Platform
Explore new ways of trading with an indicator that targets false breakouts. The False Breakout Stochastic for the Trade Station Platform allows you to trade when many traders exit their positions. It identifies when a price move defies the support and resistance levels without causing a traditional breakout.
Such price action forces many traders to exit the market, even at a loss. They’re uncertain of the direction the trend will take next.
Using an indicator helps you capture this price move accurately. It does so within your chart. Hence, it doesn’t change your analysis process. Instead, it adds a new trading strategy.
False Breakout Stochastic for the Trade Station Platform Features
This indicator uses %K and %D Stochastic lines to identify a false breakout. Hence, it gives you accurate data and saves time. Once identified, it highlights the false breakouts for you. Nevertheless, the yellow dots do not clutter your chart. Thus, the candlesticks are still available for you to follow price action.
It’s an excellent addition to your technical analysis tools as you get a new trading strategy. Therefore, if you fail to earn in traditional breakouts, try false breakouts, also showing on your chart.
The False Breakout Stochastic for the Trade Station Platform is suitable for analyzing the following instruments:
Using the False Breakout Stochastic for the Trade Station Platform
More traders wait for a breakout. That’s when the price is above resistance or below support levels. However, sometimes, price action fails to stay in these new highs or lows. It’s your moment to benefit from the false move. This indicator will show you when to enter the market.
In this indicator, a false breakout occurs when price action defies support and resistance levels and reverses. This indicator uses a simple way to highlight this move. It shows the false breakout as a series of yellow dots.
In a bearish price move, it draws yellow dots in the OverSold Zone. For a bullish move, the yellow dots are in the OverBought Zone.
One of the strategies is to wait for the price to retrace to the initial breakout level and see if it creates a new high or low. Another way to confirm the false breakout is to wait and see if the price continues at the new high or low level. This indicator helps you track all these moves to avoid costly entries.
Specification: False Breakout Stochastic For The Trade station platform