PZ HHHc LLLc MT5
A personal implementation of a famous trend principle known as higher high, higher close, lower low, lower close (HHHC - HHHL). It uses price action alone to determine trend direction, trend changes and pullback zones.
- Customizable breakout period
- Customizable colors and sizes
- It is non-repainting and non-backpainting
- It implements alerts of all kinds
The indicator defines three price zones:
- Buy zones are blue
- Sell zones are red
- Pullback zones are pink
- Trending zones are green
This indicator helps to confirm:
- Market structure and levels, using historical lines
- Trends, pullbacks and reversals, using zones
- Possible reversals or continuations, lines go flat
When loading the indicator to any chart, you will be presented with a set of options as input parameters. Don't despair if you think they are too many, because parameters are grouped into self-explanatory blocks. This is what each block of parameters does.
- Period - Breakout period in bars to determine a trend change.
- Multiplier - The ATR multiplier which defines the trend.
- Colors - Colors of the different price zones: buy, sell, pullbacks and trend zones.
- Alerts - Enable or disable alerts of all kinds.
Arturo López Pérez, private investor and speculator, software engineer and founder of Point Zero Trading Solutions.