First Strike Indicator
Info
The First Strike Indicator is a Indicator for MetaTrader 4 that this indicator displays whether the low or high price was reached first on the current bar. First Strike IndicatorThis tool helps traders identify the initial price action direction within a trading period.
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 First Strike Indicator
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 displays whether the low or high price was reached first on the current bar.
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: Pip Striker - another powerful indicator for MetaTrader 4 traders.
This indicator displays whether the low or high price was reached first on the current bar.First Strike Indicator
This tool helps traders identify the initial price action direction within a trading period.
Also recommended: high volume bars - similar indicator with strong performance on MetaTrader 4.
Key Features:
- Clearly indicates if the bar's low or high was established first.
- Provides insight into intra-bar price momentum.
- Simple and easy to understand for all trading levels.
- Compatible with MT4 and MT5 platforms.
This indicator is designed to offer a quick visual cue for the initial price movement of each bar, assisting in trading decisions and strategy development. It is a valuable addition to any trader's toolkit looking to enhance their understanding of price dynamics. Version 1.0, updated for 2026.
You may also like: Flag and Pennant Patterns Indicator - excellent alternative for indicator users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_color1 red
#property indicator_color2 blue
double buffmin[];
double buffmax[];
int periods[] = {
period_m1,.......
⚠ 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.