This is very simple and powerful indicator: Free BOX breakout indicator (which is a complete trading system.. at the same time!)
Install the indicator, go to the indicator INPUTS and change the box "hours"...to anything you like.
For example my screenshot below is a 4 hours breakout - London opening ( red quad )
Enter a trade as soon as the price breaks box's high or low. In our case SELL order placed...(see screenshot)
download Box breakout indicator (mq4 file) right click - SAVE AS...
Source: the indicator available for free on some open FX sources (it is not my product!)
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Happy Trading!
Karl
July 28th, 2011
