Indicators: HOPS and LOPS

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HOPS and LOPS:

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.

Author: Mladen Rakic

 

Thanks mladen!

You use time[rates_total-1] for placing the text, is this correct? That means the text is not to the right but far to the left in the chart (not seeable anymore here).

datetime _time = time[rates_total-1]+PeriodSeconds(_Period)*inpLabelsShift;
 
Jagg:

Thanks mladen!

You use time[rates_total-1] for placing the text, is this correct? That means the text is not to the right but far to the left in the chart (not seeable anymore here).

The code that you are checking is metatrader 5 - not metatrader 4. time[rates_total-1] is the time of the current (still opened) bar
 
Mladen Rakic:
That is metatrader 5 - not metatrader 4

Oh didn't see that, sorry. So MT5 is here different than MT4...

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