Higher High Higher Low Indicator
The Higher High Higher Low Indicator for MT4 identifies the current trend’s direction by plotting highs and lows.
Description
The Higher High Higher Low Indicator identifies the direction of the prevailing trend. It focuses on identifying the price pattern of higher highs and higher lows.
The concept behind the HHHL indicator is based on the principle that in a healthy uptrend, each successive swing high should be higher than the previous one, and each swing low should also be higher than the preceding low.
How to use the Higher High Higher Low Indicator for MT4?
The above GBP/JPY H4 chart shows the BUY/SELL signals of the indicator.
When the HHHL indicator plots a higher high leg, it implies that the market is experiencing a downward move or bearish trend. On the other hand, when the HHHL indicator draws a higher low, it suggests an upward move or bullish trend.
It’s important to note that this indicator should not be used in isolation. To enhance its effectiveness, you have to combine it with other technical analysis tools, such as trend lines, moving averages, or oscillators.
Conclusion
The Higher High Higher Low Indicator for MT4 is used to identify the prevailing trend. When the indicator plots a higher high leg, it suggests a bearish trend. Conversely, it mentions a bullish trend when it draws a higher low.