High low indicator mt4: MTF High Low Indicator MT4 Free Download Best Forex Indicators



Alternatively, close the sell trade for a fixed take profit target of for example 75 pips on the H1 chart. Provide alerts when the price touches an S/R level made by the previous swing highs/lows. Both short and long term currency traders will find this indicator extremely useful, based on its ability to filter out noise from price data. Exit the buy trade for a predetermined profit target or risk-to-reward ratio of 2.0 or better.


Exit the sell trade for a predetermined profit target or risk-to-reward ratio of 2.0 or better. The MTF High Low Indicator MT4 is responsible for drawing high and low levels of previous and current daily, weekly, and monthly periods. These levels are often respected as market turning points, thus traders can take advantage of trading at them.

About Trend Following System

Exit long when the price fails to move above a resistance. These are some of the best indicators to be based on…

Oscillators are an important part of technical analysis. This article discusses one of the most sought after technical analysis… The indicator can be used as a stand-alone signals indicator. The yellow segment of the 3 Bars High Low Indicator for MT4 indicator line denotes sessions in the market when uncertainty looms.

Place stop loss below most the most recent swing low level. We can design a counter-trend strategy on some mean reverting instruments by combining the Bollinger Bands with this indicator. Apart from Forex, this indicator is very effective in identifying the swing points in the stock market. The intensity of swing high and swing low can be adjusted by changing the number of left & right bars, respectively.

Swing highs and lows can be used by traders to identify possible areas of support and resistance, which can then be used to determine optimal positions for stop-loss or profit target orders. The MT4 MTF High Low indicator is well worth adding to your trading collection. A good forex indicator will most probably enhance your chance of success. Nonetheless, remember about having realistic expectations.

It plots the highest and lowest prices for a given period on a chart, typically the daily or intraday time frame. This can provide traders with key levels of support and resistance, helping them make more informed decisions about when to enter or exit a trade. Swing highs and swing lows are earlier market turning points. Hence, they are natural choices for projecting support and resistance levels. Every swing point is a potential support or resistance level. However, for effective trading, focus on major swing highs and lows.

Lime line of the 3 Bars High Low Indicator stays slightly below the price bars on the chart window for a buy trend. Generally speaking, both price levels can be used for stop loss placements or to identify possible major breakout levels. Traders are free to adapt this indicator on a cross section of forex pairs and timeframes of their preference. Below is an example of how the indicator should appear when added onto the Metatrader 4 chart. While the other colors i.e. lime and orange-red, strictly typifies changes in buy and sell market trends. Feel free to explore the indicator’s different parameters and settings to create your own personalized indicator setup.

Trend Following System’s goal is to share as many Forex trading systems, strategies as possible to the retail traders so that you can make real money. These lines can be used to identify key levels of support and resistance for the stock or other financial instrument being analyzed. This website is for educational and informational purposes only and should not be considered a solicitation to buy or sell a futures contract or make any other type of investment decision. It’s not recommended to use any single indicator as sole evaluation criteria. The companies and services listed on this website are not to be considered a recommendation and it is the reader’s responsibility to evaluate any product, service, or company. Patternsmart is not responsible for the accuracy or content of any product, service or company linked to on this website.


The financial instruments tend to move up and down in a non-linear way. For example, an up move in a stock price is always followed by a correction. The indicator sends alerts at the occurrence of new HH, HL, LL, and LH. In the Navigator find the gauge name, right-click it and select Attach to the chart.

At ForexRacer.com we share a collection of the best forex indicators for Metatrader 4 and Metatrader 5 (MQL4 & MQL5). You will also find here trading systems and strategies. Enjoy top free forex indicators and discover even more mt4 indicators and mt5 indicators. We encourage you to visit us regularly as we continuously add new things to the current list. The indicator tells you where to find major support and resistance levels.

Counter Trend Strategy

The default settings can be modified directly from the input tab. Feel free to experiment with the settings and parameters to fit your personal preferences. Orange-red line of the 3 Bars High Low Indicator stays slightly above the price bars on the chart window for a sell trend.

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I have been actively trading the financial markets since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund that has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends. The indicator is plotted as two lines on the chart, one representing the daily high and the other representing the daily low. The daily high line is plotted at the highest price reached during that day, while the daily low line is plotted at the lowest price reached during that day.

KT Higher High Lower Low IndicatorMT4 | MT5

Just like any other technical analysis tool, is not capable of providing accurate signals 100% of the time. Thus, this forex indicator provides false signals occasionally. Its performance will vary significantly depending on market conditions. Feel free to develop your own trading system based around it. Don’t forget that we still have more great free forex MT4 indicators to download and try. The Daily High Low Indicator relies on horizontal support-resistance levels that guide traders through key trend reversal, price breakouts, and pullback buy-sell zones.

This indicator can work together with any existing trading strategy or system as a trend breakout confirmation tool. In the example below, one can see how the price reacts to the previous monthly high level. There is a Doji candle that touched the level only once and then upward impuls occurred. In that case, the resistance level became the support level. The MTF High Low Indicator fits all kinds of timeframes and currency pairs.

A new sell signal is given price breaks and closes below weekly support. The price rejects a daily high-low resistance or drops below a support. The price rejects a daily high-low support or exceeds a resistance. The core of the technical analysis is to identify the trend… Pivot points are an excellent leading indicator in technical analysis. Every forex trader constantly searches for the answer for this question….

Go long when the price is above the moving average and touches a lower high level. Using the above information, we can design a pull-back strategy by combining the KT Higher High Lower Low indicator with a 100-period moving average. KT Higher High Lower Low indicator for MT4 & MT5 marks the HH HL LL LH swing points with their respective S/R levels in real-time. In the example below, one can see how the price reacts to the previous weekly high level. That level acts as the resistance level and the price rejected it forming three soldiers bearish pattern.

It is also easy to read and interpret, making it a popular choice among traders of all experience levels. Most forex traders are trend traders and follow the trend using… Forex day trading is the most popular method of retail forex… Technical analysis is the key to profitable forex trading. Alternatively, close the buy trade for a fixed take profit target of for example 25 pips on the M5 chart.

As a forex trader, you have only three things to figure… Patternsmart.com will not be held liable for the loss of money or any damage caused from relying on the information on this site. Any investment decision you make in your account is solely your responsibility. The Swing indicator will plot lines that represent the swing points based on the swing length input . Right click within the MT4 terminal Navigator window to refresh or restart the terminal and add the indicator to any chart.

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