High, Low, and Median Price Indicator
Info
The High, Low, and Median Price Indicator is a Indicator for MetaTrader 4 that this indicator calculates and displays the highest, lowest, and median price points over a specified period. The indicator plots these three key price levels directly on your chart, providing a clear visual representation of the price range and central tendency within the chosen timeframe.
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 High, Low, and Median Price 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 calculates and displays the highest, lowest, and median price points over a specified period.
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: Previous Day, Week, or Month High, Low, and Close Levels Indicator for MT5 - another powerful indicator for MetaTrader 4 traders.
This indicator calculates and displays the highest, lowest, and median price points over a specified period.Also recommended: New Fractal Lines Indicator - similar indicator with strong performance on MetaTrader 4.
The indicator plots these three key price levels directly on your chart, providing a clear visual representation of the price range and central tendency within the chosen timeframe.
This tool can be useful for identifying potential support and resistance levels, understanding price volatility, and making more informed trading decisions.
The calculations are performed based on a user-defined lookback period, allowing for flexible analysis across different market conditions and trading strategies.
The indicator is designed for use with MetaTrader 4 and MetaTrader 5 platforms.
Key Features:
- Calculates and displays Highest Price.
- Calculates and displays Lowest Price.
- Calculates and displays Median Price.
- User-definable period for calculations.
- Clear visual representation on the chart.
- Suitable for MT4 and MT5.
You may also like: RS I Filter - 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 5
#property indicator_color1 blue
#property indicator_color2 red
#property indicator_color3 yellow
#property indicator_color4 white
#property indicator_color5 yellow
#property indicator_width1 2.......
⚠ 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.