3 Days Hi Lo
Info
The 3 Days Hi Lo is a Indicator for MetaTrader 4 that this indicator provides a unique approach to identifying support and resistance levels by utilizing historical price data. It calculates and displays support and resistance lines based on the high and low values of the daily candle from three days prior.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Indicators folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use 3 Days Hi Lo
1. Installation: Place your file in the MQL/Indicators folder via "Open Data Folder" and restart your terminal.
2. Loading: Find the indicator in the Navigator, drag it onto your chart, and configure the input parameters in the popup window.
3. Customization: Press Ctrl+I to open the indicator list, select your tool, and click "Properties" to change colors, levels, or visual styles.
4. Updating: Replace the old file in the Indicators folder with the new version and restart the platform to apply changes.
Frequently Asked Questions
Q: Why is my indicator not showing? A: Verify the file is in the MQL/Indicators folder, or try right-clicking the "Indicators" tree in the Navigator and clicking "Refresh."
Q: Do custom indicators slow down the platform? A: Too many complex indicators can impact performance; remove unused ones via the "Indicator List" (Ctrl+I).
Q: Can I use MT4 indicators on MT5? A: No, MQL4 and MQL5 are distinct languages; ensure the indicator is compiled specifically for your platform version.
What this tool does
This indicator provides a unique approach to identifying support and resistance levels by utilizing historical price data.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Indicator works on MetaTrader 4. Place the file in the MQL4/Indicators folder and restart the terminal.
Description & Settings
Related: sk-days of week - another powerful indicator for MetaTrader 4 traders.
This indicator provides a unique approach to identifying support and resistance levels by utilizing historical price data.Also recommended: s4 t Days of the Week - similar indicator with strong performance on MetaTrader 4.
It calculates and displays support and resistance lines based on the high and low values of the daily candle from three days prior.By incorporating this indicator into your trading strategy, you can gain insights into potential price reversals or breakouts, enabling more informed decision-making in the financial markets.
Source Code
#property indicator_chart_window
#property link "https://robotfx.org"
input color day1color=clrwhite;
input color day2color=clrgray;
input color day3color=clrgold;
input int linewidth=2;
int init()
{
return(0);
}.......
⚠ Limitations & Risk Warning
- This tool is provided for educational and testing purposes only.
- Past performance does not guarantee future results.
- Trading involves substantial risk of loss. Use on a demo account first.
- Results may vary depending on market conditions, broker, and settings.
- We recommend thorough backtesting and forward testing before using with real funds.