Panca Eagle Indicator for Metatrader 4

panca eagle indicator

 

Breakout Panca Eagle Indicator for MT4 is Breakout indicator which each day creates a box of breakout zone. Once this box is breached we cen enter buy or sell position and take some profit.

This indicator will better visualize and highlight daily breakout zone, improve trading discipline so that you will trade only when its good to trade and wait when its good to wait.

Breakout Panca Eagle Indicator for MT4 should filter any insignificant breakouts.

Breakout PANCA EAGLE indicator settings

 

Colors of this indicator:

  • BLUE zone: it symbolizes HIGH and LOW of the candle range in between specified hours

  • GREEN zone: this is a border above and below the BLUE zone. It gives you a warning that a breakout should happen soon and it will serve as an noise zone

  • RED lined box: This is a zone where you should not trade and wait for PA (Price Action) to exit the RED zone.

This are the available settings for Breakout Panca Eagle Indicator:

  • NumberOfDays: Shows how much history to show. For weeker computers use less days

  • periodBegin: Hour and minute when the Breakout Panca Eagle Indicator starts to draw the BLUE zone

  • periodEnd: Hour and minute when RED zone ends

  • BoxEnd: Hour and minute when the blue zone ends usually end of the day

  • BoxBreakOut_Offset: This is the number of pips for the GREEN zone

  • BoxHLColor: Color for the BLUE zone

  • BoxBreakOutColor: color for the GREEN zone

  • BoxPeriodColor: color for the NO TRADE RED zone

FREE Panca Eagle Indicator

How to install indicators in Metatrader 4

  • Download the MQ4/EX4 file into your C:Program Files\MetaTrader 4\indicators folder

  • If you download the zip file, unzip it and locate the MQ5 file in C:\Program Files\MetaTrader 4\MQL4\Indicators

  • Double-click on the file, the Mq4 editor will open and hit “Compile”

  • Restart your MetaTrader 4 application

  • On the left hand side, look for the “Navigator” window and under the “Indicators” tab you should find the Indicators

  • Drag (Click and drag) the indicator onto the chart

  • Choose your settings and click OK