PriceAction/BreakOut Indicator

PriceAction/BreakOut (PABO) Indicator is a technical indicatror which is built on difference between trend and sideway market. PABO is widely used in conjuction with moving average to produce trading signals. For EMA with period equals to 50 - buy signal appears when price is upper EMA'line and breaks up the channel, sell signal - price is lower than EMA'line and breaks down the channel.