High-Low Indicator for Metatrader 4

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With the High / Low Indicator, you will be able to identify support and resistance levels in a specific timeframe using MetaTrader 4 platform.

 

high low indicator metatrader

 


Timeframe

With this indicator you can select Hourly, 4 Hourly, Daily, Weekly and Monthly High / Low positions. You can set colors, labels and how to draw the High / Low lines.

 

High / Low levels are usually good to have a quick view of support and resistance price levels.

You can use these levels to predict price bounces or breakouts.

These are the available settings for High Low Indicator:

 

high low indicator settings

 

  • H1: enable or disable Hourly High/Low

  • ObjH1: How many bars in history to use for Hourly High/Low

  • H4: enable or disable 4 Hour High / Low

  • ObjH4: How many bars in history to use for 4 hour High / Low

  • D1: enable or disable Daily High / Low

  • ObjD1: How many bars in history to use for Daily H/L

  • W1: enable or disable Weekly High / Low

  • ObjW1: How many bars in history to use for Weekly H / L

  • M1: enable or disable Monthly High/Low

  • ObjM1: How many bars in history to use for Monthly High / Low

  • Colors: this is just a comment

  • BarsHigh: Color for High line

  • BarsLow: Color for Low line

  • LineLable:

    • 0: No Label

    • 1: Enable Bar’s Label with Bars Index

    • 2: Enable Bar’s Label with Bars Index and Price

  • H1Position: if set to True draw line only on right side of chart for Hourly chart

  • H4Position: if set to True draw line only on right side of chart for 4 Hour chart

  • D1Position: if set to True draw line only on right side of chart for Daily chart

  • W1Position: if set to True draw line only on right side of chart for Weekly chart

  • M1Position: if set to True draw line only on right side of chart for Monthly chart

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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

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