i-HighLow - MetaTrader 5 Script | Forex Indicator Download - MT4/MT5 Resources

The i-HighLow indicator draws a channel whose borders correspond to the highest and lowest values ​​of the candlestick shadow for the specified number of bars and moves vertically at the number of points defined by the indicator input parameters:

 //+------------------------------------------------------------------------+
//|Indicator input parameters |
//+------------------------------------------------------------------------+
Input unit period = 20 ; // Number of candlesticks used to define extreme values
Input unit filter = 50 ; // Offset width from candlestick in points
Enter integer shift = 0 ; // horizontal movement of the indicator in bars

The indicator was first implemented in MQL4 and released in the code base on May 21, 2007.

Figure 1. i-HighLow indicator

Attachment download

📎i -highlow.mq5 (13.53 KB)

Source: MQL5 #2394