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

HighestLowestRange (HLR) determines the relative price position within the range several X bars ago. If the price is at the bottom of the range (in the case of a new low), the indicator is equal to 0, and if the price is at the top of the range (in the case of a new high), the indicator is equal to 1 (or 100%). If the price is in the middle of the range, the indicator is equal to 0.5 or 50%.

Trade signals. When HLR breaks through the 0.8 level, long positions are opened and when HLR breaks through the 0.2 level, the position is reversed into short positions, in other words, positions are opened when the price is at the upper or lower limit (20%) of the price range. The indicator was systematically tested based on a 40-day channel breakout.

The HLR indicator and its use are described in the article "HLR Against the Tide" by José Cruset , Active Trader, Vol. 2 (see also Russian translation ).

The indicator was first implemented in MQL4 and released in the code base on January 25, 2007.

Highest Lowest Range (HLR) Indicator

Attachment download

📎 hlr.mq5 (4.99 KB)

Source: MQL5 #791