Swing Highs Lows Candle Patterns

Swing Highs & Lows Signal Indicator MT4/MT5 

 

FOR MT4 PLATFORM  https://www.mql5.com/en/market/product/180014?source=Site+Market+MT4+Indicator+New+Rating006

FOR MT5 PLATFORM  https://www.mql5.com/en/market/product/180018?source=Site+Market+MT5+Indicator+New+Rating006

User Guide

Overview

Swing Highs & Lows Signal Indicator is a professional trading tool designed to detect swing highs, swing lows, candle patterns, and potential BUY/SELL opportunities automatically.

The indicator draws:

• BUY and SELL signal lines
• Entry price labels
• Swing High / Swing Low detection
• Candle pattern recognition
• Pip statistics dashboard
• Positive / Negative pip calculations
• Net performance difference

This indicator is optimized for both MT4 and MT5 platforms.

Main Features

1. Swing Detection

The indicator automatically detects:

• HH = Higher High
• LH = Lower High
• HL = Higher Low
• LL = Lower Low

These structures help traders identify market trend direction.

2. BUY / SELL Signals

When a valid swing is detected:

• Green vertical line = BUY signal
• Red vertical line = SELL signal

The signal label appears directly at the candle close price.

Example:

BUY 1.34112

SELL 1.34721

3. Candle Pattern Detection

The indicator can recognize important reversal patterns:

• Hammer
• Inverted Hammer
• Bullish Engulfing
• Bearish Engulfing
• Shooting Star
• Hanging Man

These patterns are displayed near the swing area automatically.

4. Swing Statistics Dashboard

The dashboard appears in the top-right corner of the chart.

It calculates statistics from the selected number of scanned bars.

Dashboard includes:

• Bars Scanned
• Closed Signals
• Positive Pips
• Negative Pips
• Net Difference

Formula:

Net Difference = Positive Pips - Negative Pips

Recommended Timeframes

Best performance:

• M15
• M30
• H1
• H4

Scalping:

• M1
• M5

Swing Trading:

• H1
• H4
• D1

Recommended Markets

Optimized for:

• XAUUSD (Gold)
• EURUSD
• GBPUSD
• USDJPY
• Major Forex Pairs

How to Install (MT4)

1. Open MetaTrader 4
2. Click:
   File → Open Data Folder
3. Open:
   MQL4 → Indicators
4. Copy indicator file into the Indicators folder
5. Restart MT4
6. Drag indicator onto chart

How to Install (MT5)

1. Open MetaTrader 5
2. Click:
   File → Open Data Folder
3. Open:
   MQL5 → Indicators
4. Copy indicator file into the Indicators folder
5. Restart MT5
6. Drag indicator onto chart

Input Settings

Length

Controls swing sensitivity.

Lower value:

• More signals
• Faster reactions

Higher value:

• Stronger swings
• Fewer signals

Recommended:

• 1 to 3

MaxBarsToScan

Number of historical bars scanned for statistics.

Examples:

• 1000
• 2000
• 5000

Higher values may use more CPU resources.

ShowSwingLabels

Enable or disable swing labels.

true = visible
false = hidden

ShowSignalLines

Enable or disable BUY/SELL vertical lines.

Signal Colors

BUY:

• Lime / Green

SELL:

• Red

These colors can be customized.

Trading Tips

Trend Trading

Use BUY signals only during uptrends.

Use SELL signals only during downtrends.

Confirmation

For stronger entries:

• Wait for candle close
• Combine with support/resistance
• Use higher timeframe confirmation

Risk Management

Always use:

• Stop Loss
• Proper lot size
• Risk management

Recommended risk:

• 1% to 2% per trade

Best Strategy Example

BUY Setup

1. Market creates Higher Low (HL)
2. Hammer or Bullish Engulfing appears
3. BUY signal appears
4. Enter after candle close

SELL Setup

1. Market creates Lower High (LH)
2. Shooting Star or Bearish Engulfing appears
3. SELL signal appears
4. Enter after candle close

Notes

• Indicator does not repaint after candle close
• Works on all brokers
• Optimized for fast execution
• Validator-safe version

Author

Author: Qiyas Baghirov

Thank you for using Swing Highs & Lows Signal Indicator.