Multi TimeFrame High Low Indicator MT4/MT5 Free Download Multi TimeFrame High Low Indicator MT4/MT5 FREE Download
The High Low Indicator is an MT4/MT5 indicator designed to automatically draw multi-timeframe high and low levels in MT4 and MT5 terminals. (Multiple Time Frame) MTF High Low Forex Indicator is designed to plot the previous high and low price levels of a time frame on a chart. It has served from today to historical times and even customary times.
These levels appear as lines on the chart, each labeled with the acronym of that period, providing a clear view of the price movement. Traders can choose from a variety of layout options and further embellish these levels of visibility with dot projections or price tags.
This MTF High Low MT5 can be used on any Forex currency pair and other assets such as commodities, cryptocurrencies, binary options, stock markets , indices, etc. You can also use it within any time frame that works best for you, From 1 minute charts to monthly charts.
This MTF High and Low is not an independent trading indicator system. Still, it can be handy for your trading because of additional chart analysis, finding trade exit levels (TP/SL), etc. While the system can be used by traders of all experience levels, it may be helpful to practice trading on an MT4 demo account until you become consistent and confident enough to start using it. You can open a live or demo trading account with most Forex brokers.
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How to use high and low levels in Forex trading
In foreign exchange trading, "high" and "low" refer to the highest and lowest prices at which a currency pair trades during a specific period. Depending on the trader's perspective and strategy, these may be daily, weekly, monthly or yearly. Here's a brief description of each:
- High : This is the highest price level reached by a particular currency pair during a specified period. It represents the peak of price activity.
- Low : This is the lowest price level that a currency pair fell to during the same period. It represents a trough in price activity.
Highs and lows are part of the fundamental data points used when charting price action in Forex trading. These price levels can help traders identify potential resistance (highs) and support (lows), assess market volatility, and develop trading strategies. For example, a breakout strategy might involve placing a buy order when the price exceeds a high, or a sell order when the price falls below a low, anticipating the continuation of the trend.
Main features of the multi-time frame high and low indicator
The Multi Time Frame High Low Indicator stands out for its versatility and comprehensive range of functions and features:
1. Multiple Periods: The indicator plots the highest and lowest price levels to show periods such as today, yesterday, daily, weekly, monthly, yearly and historical. Traders can also build custom cycles to suit their trading needs.
The abbreviations for each period are as follows:
- 24H: 24 hours
- 7D: 7 days
- 30D: 30 days
- 90D: 90 days
- 365D: 365 days
- TDY: Today
- YDA: Yesterday
- W1: This Week
- MN1: Month to date
- YRL: Year to date
- HST: Historical
- [n]H: Custom Hours
- [n]D: Custom Days
2. Five Layouts: Traders can choose from five different layout options - right side, current price (left), current price (right), full width or from high/low to last candle.
3. Visual customization: To increase the visibility of levels, traders can add dot predictions on high/low and price labels to show the actual price of that level. Traders can also adjust the text size to suit their requirements. MTF High Low MT5 also offers two pre-built color templates suitable for dark and light backgrounds, as well as custom preset options for setting colors for each line.
Input Parameters
- Layout Style – The layout style option allows traders to select the high and low lines of the chart from five display options. The options include Right, Current Price (Left), Current Price (Right), Full Width, and High/Low to Price.
- Right side – option places the high and low lines on the right side of the chart.
- Current Price (Left) – option to place the line to the left of the current price.
- Current Price (Right) – option to place the line to the right of the current price.
- Full width – option to extend the high and low lines on the chart.
- From High/Low to Price – option to draw a line connecting the high or low to the right side of the chart.
- Add Point Projection to High/Low – This option adds a dashed line from the level marker to the corresponding high or low point.
- Add price tag – This option adds the price near the respective highest or lowest abbreviation.
- Text size – This option adjusts the text size of level labels.
- Absolute Period Settings – Allows you to customize the period displayed on the chart. By activating or deactivating a specific time period, you can choose to display data for the past 24 hours (daily), 7 days, 30 days, 90 days or 365 days.
- Relative Period Settings – Allows you to select the time range for which you want to view data based on the current date. You can select different time periods such as Today, Yesterday, This Week, Month to Date, Quarter to Date, Year to Date, and Historical.
- Custom Period Settings – This option enables you to set a custom period (in days or hours) to suit your trading needs.
- Preset colors – This option allows you to choose from two pre-built color templates. Each color preset works on both dark and light backgrounds.
- Custom colors – This option enables you to set the color of each line using custom preset options.
Use the High and Low Indicators to Discover Key Trading Levels
High and Low indicators help traders identify key support and resistance levels across different time periods. These levels are proven to be helpful in discovering potential entry and exit points for trades and can be Effective leverage sets stop loss and take profit levels.
For example, if the indicator shows that the daily high is 1.2000 and the daily low is 1.1900, the trader can set the stop loss to 1.1900 and the take profit to 1.2000 for the long position. Likewise, if the weekly high is 1.2200 and the weekly low is 1.1900, these levels can be used to determine potential entry and exit points for a swing trade.
MTF High Low MT4 is particularly useful in breakout trading strategies . Traders looking for price action above key support and resistance levels view these levels as a precursor to a potential trend reversal or continuation. If current prices approach key resistance levels identified by this indicator, traders may choose to hold long positions in anticipation of a breakout. Conversely, if the price approaches a key support level, traders may enter a short position in anticipation of a price breakdown.
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MTF high and low conclusion
In summary, the MTF High and Low indicator is helpful for traders. It has the potential to simplify trading decisions and improve profitability by providing clear, actionable insights into high and low price levels across different time frames.
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