The Last High Low Stop Loss Indicator is a useful and popular free Forex indicator for MT4. This indicator allows traders to quickly identify potential entry and exit points in the Forex market. It is based on a simple concept, which is to identify the last high and low of the market and then set a stop loss at a predetermined distance away from them. This indicator can be used in any timeframe, from the one minute to the monthly chart. The Last High Low Stop Loss Indicator works by first identifying the last high and low of the market. It then plots a line at a set distance away from these points. This line is the stop loss. When the market price touches this line, it triggers the stop loss order, which will close the trade at a predetermined level. This allows traders to protect their profits and limit their losses. This is a great tool for any trader looking to maximize their profits in the Forex market.
Last High Low Stop Loss
The Last High Low Stop Loss Indicator is a popular and free Forex indicator for MT4 that is useful for traders who want to protect their capital. This indicator helps traders to identify the last high and low points of the market, which can be used to set a stop loss order to limit losses. This indicator can be used to identify support and resistance levels, as well as to identify the trend of the market. It is also useful for trailing stop loss orders. The Last High Low Stop Loss Indicator is a must-have tool for any Forex trader, and it is available for free on the MT4 platform.
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Category: Support & Resistance
How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
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.