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Views:: 7695
Rating:: (20)
Published:: 2018.02.01 11:58

Hops-lops.mq5 (9.01 KB) view

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Even though it seems like a funny name, it is not.

The "HOPS" and "LOPS" stand for High Of the Previous Session and Low Of the Previous Sessions. That makes it a sort of support/resistance or a pivot type of indicator. This version supports any of the time frames that are supported by MetaTrader 5 (even displaying lower time frame session pivots, lows and highs).

Recommendations

Use it as any previous session high/low indicator (mainly for possible break-outs).
If you use multiple instances on the same chart set the unique ID of the indicator to unique value - that way you can have more than one instance on the same chart.

Rsi(var) with averages

Rsi(var) with averages.

Rsi(var)

RSI variation.

ATR Probability Levels

Probability levels based on ATR. "Probability" is calculated based on the projected Average True Range and previous period Close.

Woodies CCI

Woodies CCI is a momentum indicator that was developed by Ken Woods. It's based on a 14 period Commodity Channel Index (CCI).

HOPS and LOPS - indicator for MetaTrader 5

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