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Home Collection Support & Resistance Custom High Low
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Custom High Low

With the Custom High Low Indicator MT5, traders can easily identify the highs and lows of a market and take advantage of any short-term price movements. Try Now!

Trading Style

Intraday

Indicator Type

Breakout

Timeframe

H1-H4

,

M15-M30

Platform

MT5

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Description

Highs and lows of past price action are significant levels of interest in the financial markets. They (Highs and lows) tend to act as support or resistance zones. Besides, highs and lows are also employed during technical analysis to determine the trend direction of the market. For instance, the market is uptrend when it prints steady higher highs and higher lows.

The Custom High Low indicator is a MetaTrader 5 trading tool built with algorithms that detect the highs/lows of the price on multiple timeframes and then display them on a single chart. It’s one of the invaluable Forex indicators that would be beneficial during technical analysis and in identifying trading opportunities.

Features of the Indicator

The Custom High Low indicator for MT5 detects the highs/lows of multiple timeframes and displays them on a single chart with their respective time frames. It also has an alert function that notifies users when the price touches a timeframe of interest. What’s more, the indicator’s parameters are fully customizable.

Benefits of Using the Indicator

  • Support and resistance zones: The highs and lows are potential support and resistance levels to look for trend reversal/breakout trading opportunities.
  • Time-Saving: The indicator’s alert system helps reduce screen time by notifying users when the price touches a high or low interest.

Indicator Description Settings

The indicator comes with the following customizable settings:

HL Period: Period to find the highs/lows.

Font Size: Defines the font size.

M1, M5, M15, M30, H1, H4, D1, W1, and M1: Display price high and low on the M1, M5, M15, M30, H1, H4, D1, W1, and M1 timeframes.

Color: Highs/lows color.

Style: Line style to display highs/lows.

Width: Line width to display highs/lows.

Popup alert: Enables/Disables popup alert on the screen.

Sound alert: Enables/Disables alert sound.

Push Notifications: Enables/Disables signal alert via mobile.

Email Alert: Enables/Disables signal alert via email when price touches a high/low.

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How to Install

How install MT4/5 indicator in the terminal?

To install an MT4/5 indicator in the terminal, follow these steps:

  1. Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.

  2. Open the MT4/5 terminal and click on “File” in the top left corner.

  3. Select “Open Data Folder” from the dropdown menu.

  4. In the window that opens, double-click on the “MQL4/5” folder.

  5. Double-click on the “Indicators” folder.

  6. Drag and drop the indicator file from your computer into the “Indicators” folder.

  7. Close the data folder window and restart the MT4/5 terminal.

  8. The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.

Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.

And if asks to confirm DLL?

If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.

DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.

If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.

It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.

 

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