Highest Lowest Indicator
MT5Also Available for MT4Highest Lowest indicator for MT5 – Accurate MT5 key level indicator. Trend reversal indicator for MT5. The best support/resistance indicator.
Description
The Highest Lowest Indicator for MetaTrader is a trading tool that follows the price of any traded asset and highlights the highest or lowest level it has reached.
What is a high low in MT5?
High/Low in this context refers to the h/l point in an asset’s price during a trading period. This could be yesterday’s high/low, last week’s high/low, etc.
These zones (high/low) are critical trading gaps because the price can either reverse or break the previous high/low in the market. This means that many traders are always ready to BUY or SELL at this level.
The Highest Lowest indicator comes in handy to help you identify and highlight the highest/lowest point of previous trading sessions. However, you may need to enable the period separator on your MT5 to easily identify any of the previous highs/lows.
In addition, the indicator is suitable for both beginners and experienced traders. In addition, it can also be used for scalping, day/intraday and swing trading.
How to trade with the highest indicator
The screenshot above shows how the indicator will look on your MT5 platform. It also illustrates how to identify a viable trading setup.
The indicator is recommended to be used in conjunction with price action and/or other technical indicators to create trade setups.
Please note that the indicator is not a tool that generates BUY/SELL entry signals. However, the above BUY signal (in the screenshot) shows how price reacted at yesterday’s low with a good wick. A bullish engulfing candle printed after the rejection also suggests a possible up move.
Conclusion
The Highest Lowest indicator for MT5 is one of the most important trading tools for modern forex traders. This will help you anticipate the price reaction at the highest/lowest levels of the day, week and month. Finally, the indicator is free to download.
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