Historical Highs and Lows Indicator MT5 – Free Download [TradingFinder] – MetaTrader 5 Resources

The Previous Highs and Lows indicator utilizes raw price data to identify significant high and low levels within a defined time range (such as the current day, previous day, past week, or latest candle) and plots them as horizontal static or dynamic lines on the chart.

These levels are calculated based on past market highs and lows and are considered key reaction areas.

Historical highs and lows indicator table

The table below outlines the main characteristics of the device and the previous highs and lows of the MetaTrader 5 platform indicator.

Previous Highs and Lows Indicator Overview

In the Previous Highs and Lows indicator, highs and lows are often key areas where price tends to react.

When price reaches these levels, it may reverse direction or, if a valid breakout occurs, confirm the continuation of the trend. Converting these areas into support or resistance levels provides a solid foundation for identifying trading opportunities.

Indicators are in an upward trend

The chart below shows the AUD/USD currency pair on the 1 hour time frame. In this case, a breakout of the previous high (marked by the blue line) confirms the bullish structure of the market and enhances trend momentum.

This breakout Trading tool increases buying pressure and defines a favorable entry area for long positions.

Indicators are in a downward trend

The chart below shows the EUR/NZD currency pair on the 5-minute time frame. In a downtrend, a break below the previous low signals continued selling pressure and validates a bearish market structure.

A return to this level and transition into resistance creates an ideal entry opportunity for short positions.

Previous high and low indicator settings

The image below shows the settings panel for the previous high and low indicators:

• DRAW PIVOTS: Draw pivot levels;
• ZIGZAG PERIOD: Zigzag indicator period;
• ZIGZAG BACKSTEP: The minimum candle spacing between zigzag reversal points;
• DISPLAY ZIGZAG: Displays zigzag lines on the chart;
• Show pivot label: Displays the label for the pivot level;
• HIGH LINE COLOR: High-level line color;
• LOW LINE COLOR: The color of low-level lines;
• LINE WIDTH: The thickness of the drawn line;
• PREFIX: prefix of level label;
• HISTORY LIMIT: The number of past candles to analyze.

Conclusion

The Previous Highs and Lows indicator is a specialized indicator technical analysis tool focused on determining the highest and lowest price points.

By plotting reaction levels based on real market data, it accurately highlights important support and resistance areas on the chart and provides clear entry and exit areas based on these areas.