MetaTrader 4 Daily High and Low Indicator Download - Free - [Trading Search] - MT4/MT5 Resources

The Daily High and Low Indicator is one of the powerful MetaTrader 4 indicators that helps traders with technical analysis to identify critical Support and Resistance levels based on the highest (highest) price and lowest (lowest) price recorded during the trading day.

This indicator marks the current and previous trading day's highest and lowest prices on the chart with a red line (lowest price) and a green line (highest price). These levels can help determine appropriate entry-exit points and take-profit and stop-loss levels. This indicator is particularly useful in all markets, but especially in volatile markets where prices move quickly and unpredictably.

Indicator Table

Indicators at a glance

The Daily High and Low Price Indicator is a useful tool for identifying key price levels . Using this indicator, traders can identify daily high and low price levels and base their analysis on them. By plotting these levels, the indicator can use them as support and resistance levels , helping traders make more precise decisions .

Indicator’s buy signal conditions (support levels)

The chart below shows the Dow Jones Index (symbol US30) on a 15-minute time frame. On July 24, the chart recorded the day's lowest price at point (A). The next day, the price is observed to reach the price range of (A) again at point (B), with the previous day's (support) level functioning well. To enter a buy position, traders can look for price reversal confirmations such as candlesticks or the classic reversal pattern near point (B)

In the chart below, GBP/USD (GBPUSD) also observes that the recent upward trend continues after breaking above the previous day's highest price (High).

Indicator's sell signal conditions (resistance level)

The chart below shows the price of Gold against the US Dollar (symbol XAUUSD) on a 15-minute time frame. On June 20, the chart recorded the day's highest price at point (A). The next day, the price is observed to reach the price range of (A) again at point (B), with the previous day's (resistance) level functioning well. Traders can look for price reversal confirmations such as candlestick patterns or classic reversal patterns around point (B) to enter Sell Positions .

In the chart below, EURUSD also observes that the recent downtrend continues after breaking above the previous day's low (lowest price).

Daily high and low indicator settings

• Buy Color : The color at the highest price level can be green or any preferred color
• Sell ​​Color : The color of the lowest price level can be green or any preferred color

Conclusion

This indicator is an important tool in technical analysis because it can automatically identify High and Low and determine price levels without the need for chart analysis. Traders can use this indicator in conjunction with other technical indicators, such as Moving Averages , Relative Strength Index (RSI) , or Bollinger Bands , to confirm signals and improve trading accuracy.