The Top Ultimate Breakout Indicator is a straightforward breakout indicator system. It helps the trader identify real-time Buy and Sell breakout signals in any market where the indicator is being used. The indicator also signals to the trader where they could enter or exit trades with breakout entry and profit target exit levels.
What is the Top Ultimate Breakout Indicator?
The Top Ultimate Breakout Indicator can generate trading signals that you can use as they are or combine with additional chart analysis to further filter the signals, which is recommended. While this system is suitable for traders of all levels of experience, it is always advisable to practice trading on a demo account until you are consistent and confident enough to trade live. You can instruct the Top Ultimate Breakout Indicator to send you a signal alert. This is useful because you don’t have to stare at the charts all day waiting for signals to appear, and you can monitor multiple charts at the same time. Top Ultimate Breakout System can be used on any Forex currency pair as well as other assets such as stocks, commodities, cryptos, precious metals, oil, gas, and so on. You can also use it whenever it is convenient for you.
Top Ultimate Breakout Strategy
The Top Ultimate Breakout Strategy, as the name suggests, is a strategy that encourages traders to trade the markets when support or resistance levels are broken. If you find a bullish trade setup and want to buy in a market, you could set your Buy Entry Stop at the level of the Green Line (Red line for a bearish/Sell trade setup) in the chart, plotted by the indicator. Once the trade is opened in the market after your Buy Entry Stop is hit, the TOP Ultimate Breakout trade lines are displayed to help you exit at Profit Targets or at your Trailing Stop line.
The white line indicates the Buy or Sell Entry Level, while the yellow line indicates the Profit Target 1. Profit Target 2 has a magenta line, and Trailing Risk Stop Level has a solid blue line. When your market reaches this level, the Top Ultimate Breakout strategy will show your Breakout Trading Lines, which include your Entry Line (White), Profit Target 1 line (Yellow), and Profit Target 2 line (Magenta Line).
Buy Signal
The following could be your checklist for a buy trade:
- When price is trading above the blue stop loss line.
- When the white entry line appears on the chart.
Once these two events occur:
- You could open a buy position on the white entry line after it appears and you get your signal confirmation.
- You could set your stop loss just below the nearest swing low or just below the blue stop loss line.
- You could set your take profit at the nearest resistance zone or at the yellow and magenta TP lines.
- For good risk management, I would only consider trades with a risk to reward ratio of at least 1:2.
Sell Signal
The following could be your checklist for a sell trade:
- When price is trading below the blue stop loss line.
- When the white entry line appears on the chart.
Once these two events occur:
- You could open a sell position on the white entry line after it appears and you get your signal confirmation.
- You could set your stop loss just above the nearest swing high or just above the blue stop loss line.
- You could set your take profit at the nearest support zone or at the yellow and magenta TP lines.
- For good risk management, I would only consider trades with a risk to reward ratio of at least 1:2.
Top Ultimate Breakout Pros & Cons
Pros
- This indicator is suitable for both newbie and advanced breakout traders.
- The Top Ultimate Breakout strategy can be used to trade Stocks, Options, Futures, Forex, ETFs, and CFDs.
- The indicator gives entry price, SL and TP targets.
Cons
- There are cases of false breakouts sometimes, hence misleading the traders.
- It can be difficult to enter the market without slippage due to the increased volatility caused by the breakout setup.
Conclusion
The Top Ultimate Breakout Indicator, which is based on support and resistance breakout trading, is an indicator used in trending markets. This indicator offers a trading strategy which is easy to understand by even a novice trader. The trader who uses this strategy just needs to wait for the patterns to form before proceeding to enter the markets based on the signals received and also after ensuring to confirm the signals with price action and other indicators or strategies.
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