Highest High and Lowest Low Support and Resistance - MetaTrader 5 Script | Trading Script Download - MT4/MT5 Resources

It's an old idea: use highs and lows as support and resistance.

It is calculated by combining the two highest highs and lowest lows. "Slow" channels formed in this way are considered "trend" determining channels. A "fast" channel is a short-term channel drawn within the "main" long-term channel. This way you can combine fast and slow estimates of SR as well as short-term trends within the current trend. Of course the estimate of the trend is based on the highs and lows and will be used as any normal trend based on these values ​​even if not redrawn

"Fast" channels can be used for short-term support and resistance (or exit targets - depending on your trading strategy). This can also be done using long-term channels.

Attachment: Examples of “big picture”

Attachment download

📎 highest_high_-_lowest_low_sr.mq5 (13.51 KB)

Source: MQL5 #23378

Highest Highs and Lowest Lows Support and Resistance – Important Points Before Using the MetaTrader 5 Script

This page has been supplemented with structured instructions, focusing on the purpose of trading scripts, MT4/MT5 platform compatibility, testing procedures and risk control. Before downloading or deploying, it is recommended to first determine whether it is consistent with your own variety, cycle and account environment.

Suitable for who to use

• Users who want to quickly screen trading scripts and are willing to do simulation verification first.
• People who need to compare MT4/MT5 EAs, indicators, scripts or source code projects.
• Traders who wish to record backtests, parameters and risk boundaries before placing a trade.

Testing and risk control suggestions

• First verify the default parameters in the strategy tester or demo account, and then adjust the symbol, period, spread and trading period one by one.
• Scalping, grid, martin, and high-frequency strategies should focus on observing maximum drawdowns, consecutive losses, slippage, and trading frequency.
• It is not recommended to run any document directly on the real disk. At least observe the simulated disk performance for 2-4 weeks first.

FAQ

Can MT4 and MT5 be used interchangeably?
Usually cannot be used directly. EX4/MQ4 corresponds to MT4, EX5/MQ5 corresponds to MT5, and the source code needs to be compiled in the corresponding MetaEditor.

Is this resource guaranteed to be profitable?
cannot. EAs, indicators and scripts can only be used as trading tools, and the results depend on parameters, market environment, spreads, slippage and risk control.

What else can I continue to watch?
Forex EA download , foreign exchange indicator download , EA evaluation , MQL5 CodeBase .

English Search Notes

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