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Introduction

The breakout and retest strategy is traded support and resistance levels. it involves price breaking through a previous level.

The break and retest strategy is designed to help traders do two main things, the first is to avoid false breakouts. Many false breakouts start with a candlestick that breaks out of a level but ends with an immediate candlestick that brings the price back into the level. The second thing that the breakout and retest strategy does is that it helps traders confirm a new trend. When the price breaks out from a resistance level and retests it on the other side, it is a clear signal that a new support/ resistance level has formed and a new trend has begun.

Breakout and retest Scanner

It is easy for a trader to recognize patterns on scanner chart by scanning many charts and time frames in same time without trader’s mistake in calculations. This indicator can automatically scan all symbols and time frames to find possible patterns in one chart.

Scan, Fibonacci calculations and pattern recognition are completely done by Breakout and Retest Scanner indicator; All you do is “press the scan button”. It sends alert and push notification on your mobile.

How To Work

Default setting is best practice and you can just add it on chart and use Breakout and Retest Scanner indicator, then you have signals with entry point, stop-loss, and take-profit by clear signal to decide a strong trade.