high/low indicator for a predefined period
Info
The high/low indicator for a predefined period is a Indicator for MetaTrader 4 that the middle line can be configured with the parameter middle line typeas:mid_type_none=0, // nonemid_type_median=1, // median, (high + low)/2mid_type_typical=2, // typical, (high + low + close)/3mid_type_weighted=3 // average, (high + low + close + close)/4.
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 indicator for a predefined period
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
the middle line can be configured with the parameter middle line typeas:mid_type_none=0, // nonemid_type_median=1, // median, (high + low)/2mid_type_typical=2, // typical, (high + low + close)/3mid_type_weighted=3 // average, (high + low + close + close)/4.
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: External Range Liquidity (ERL) Indicator: Advanced Market Structure and Liquidity Analysis - another powerful indicator for MetaTrader 4 traders.
Also recommended: B Bands Psar Indicator - similar indicator with strong performance on MetaTrader 4.
the middle line can be configured with the parametermiddle line type
as:
mid_type_none=0, // nonemid_type_median=1, // median, (high + low)/2mid_type_typical=2, // typical, (high + low + close)/3mid_type_weighted=3 // average, (high + low + close + close)/4
Source Code
/*
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|| do not delete this header ||
|| deleting this header is copyright infrigment ||
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|| copyright @2017, tvlautomation ||
|| t v l a u t o m a t i o n @ g m a i l . c o m ||
|| https:||www.mql5.com/en/users/tvlautomation ||
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⚠ 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.