Custom High Low Indicator MT4
- Indicators
- Eda Kaya
- Version: 1.3
Custom High Low Indicator for MT4
The Custom High Low Indicator for MT4 is a powerful tool designed to highlight key Support and Resistance zones. This indicator works by plotting the high and low points across multiple timeframes, ranging from the monthly chart all the way down to the 1-minute interval.
With this tool, both historical and current levels are shown simultaneously, offering traders valuable insights that aid in anticipating potential price shifts.
«Indicator Installation & User Guide»
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Custom High Low Indicator Specifications
Below are the features and details that define the Custom High Low Indicator:
| Category | Signal & Prediction – Support & Resistance – Levels & Zones |
| Platform | MetaTrader 4 |
| Skill Level | Beginner |
| Trading Tool | Reversal – Continuation |
| Time Frame | Multi-Timeframe |
| Trading Style | Fast Scalping – Scalping – Intraday Trading |
| Markets | Forex – Crypto – Stocks – Commodities |
Overview of the Custom High Low Indicator
The Custom High Low Indicator for MT4 provides a wide range of customization options, making it compatible with diverse trading methodologies. Users can easily adjust line colors, thickness, and choose which timeframes’ support and resistance zones they want to display.
Bullish Market Setup
In the 1-hour chart of the AUD/USD pair, the Custom High Low Indicator highlights a bounce from the daily low, signaling bullish momentum. The level acts as dynamic support, giving traders a clear entry opportunity.
Bearish Market Setup
As shown in the 5-minute chart of BTC/USD, the indicator captures a price rejection from the 1-hour high, indicating a potential bearish turn. These plotted resistance areas make trend direction and price reactions easier to interpret in volatile markets.
Custom High Low Indicator Settings
Here are the adjustable parameters available in the Custom High Low Indicator for MT4:
Main Settings
- High Low Period: Specifies the timeframe used to detect highs and lows.
- Font Size: Determines the text size of price labels on the chart.
Time Settings
These settings allow fine-tuned control over multiple timeframe zones:
- Line Show: Toggles visibility of the plotted support/resistance lines.
- Line Color: Sets individual colors for each timeframe level.
- Line Style: Lets users change line appearance (solid, dotted, etc.).
- Line Width: Adjusts the thickness of each plotted line.
Alert Settings
- Alert ON: Turns notifications on or off.
- Alert Sound ON: Enables audio signals for level interactions.
- Sound File: Choose a custom sound for alerts.
- Alert Email ON: Sends email alerts when price reaches specific levels.
Conclusion
The Custom High Low Indicator for MT4 is a versatile level-detection tool that visually maps key price zones using customizable colored lines. These zones offer a clear perspective on market behavior, helping traders anticipate possible trend reversals or continuations.
With its adjustable features and multi-timeframe capabilities, this indicator enhances decision-making for both novice and experienced traders focused on accurate level mapping.
