Breakout and Retest Scanner MT4

The world of Forex trading is fraught with challenges, one of which is the identification and avoidance of false breakouts. Traders often find it daunting to distinguish genuine breakouts from the false ones. That’s where the MT4 Scanner comes into play. This tool is designed to help you avoid false breakouts and assist you in identifying new trading trends.

What is the Breakout & Retest Strategy?

In a nutshell, the Breakout and Retest strategy involves trading at support and resistance levels. The strategy is centered around the price piercing through a previous level. The first and foremost objective of this strategy is to help traders sidestep false breakouts – a situation where a candlestick breaks out of a level but an immediate subsequent candlestick pulls the price back into the level.

Secondly, the Breakout and Retest strategy aids traders in confirming a new trend. When the price breaks free from a resistance level, and retests it from the other side, it’s a clear indication that a new support/resistance level has been established and a new trend is in progress.

The Role of Breakout & Retest Scanner MT4

Recognizing patterns on a chart is often a daunting task for traders. Manually scanning dozens of charts and time frames is not only time-consuming but also prone to human errors. This is where the Breakout and Retest Scanner MT4 comes to the rescue. This tool can automatically sift through all charts and time frames to identify potential patterns in a matter of seconds.

The responsibility of searching, Fibonacci calculations, and pattern recognition are all handled by the MT4 Scanner. All that the trader needs to do is “press the scan button”, and the indicator takes care of the rest.

How Does It Assist in Trading?

All necessary parameters for entering a trade, such as the entry point, stop-loss, and take-profit, are calculated by the Breakout and Retest Scanner MT4. By observing the signal, traders can make the decision to enter the trade using a “set and forget” method.

Independent Testing and Updates

For those interested in testing the efficacy of this tool, independent testing of the Breakout & Retest Scanner MT4 is available on the forexroboteasy.com website. Users can also subscribe to receive updates on the testing results of this tool.

Share Your Experience

If you have used the Breakout & Retest Scanner MT4, we invite you to share your experience. Your feedback will not only help other traders but will also contribute to the improvements of this trading tool in the future.

FAQs

Q: Is the Breakout & Retest Scanner MT4 easy to use?
A: Yes, the tool is designed to simplify the trading process. It automatically calculates all necessary parameters for entering a trade.

Q: Where can I find independent testing of this tool?
A: Independent testing of the tool is available on the forexroboteasy.com website.

Q: Can I subscribe to updates on the testing results of this tool?
A: Yes, users can subscribe to receive updates on the testing results of the tool.

This review is an independent analysis of the Breakout & Retest Scanner MT4, a tool designed to assist traders in navigating the often complex world of Forex trading. It is not affiliated with the product or its creators.