Extremums Indicator
Info
The Extremums Indicator is a Script for MetaTrader 4 that this script creates horizontal lines to indicate the maximum and minimum price values over a specified time period. Customization options include:- Upper Lines: Display lines for high prices.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Script works exclusively on MetaTrader 4 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL4/Scripts folder via File ? Open Data Folder in MetaTrader 4.
How to Install and Use Extremums Indicator
1. Installation: Move your script file into the MQL/Scripts directory and restart the platform.
2. Execution: Drag the script onto a chart; it will perform a one-time action, such as closing all open orders or clearing chart objects.
3. Editing: Use MetaEditor (F4) to modify code, click "Compile," and verify no errors appear in the terminal before running.
4. Removing: Scripts stop automatically, but you can remove them manually by right-clicking the chart and choosing "Remove Script."
Frequently Asked Questions
Q: How are scripts different from EAs? A: Scripts execute a single action and then stop; EAs monitor the market and trade continuously.
Q: Can I assign a hotkey to a script? A: Yes, right-click the script in the Navigator, select "Set Hotkey," and define your preferred keyboard shortcut.
Q: Why did my script stop? A: Scripts are designed to stop immediately after finishing their programmed command; this is normal behavior.
What this tool does
This script creates horizontal lines to indicate the maximum and minimum price values over a specified time period.
Typical Use Case
This Script excels in automated trading and technical analysis on MetaTrader 4.
Compatible Platform & Setup
This Script works on MetaTrader 4. Place the file in the MQL4/Scripts folder and restart the terminal.
Description & Settings
Related: notches indicator - another powerful script for MetaTrader 4 traders.
This script creates horizontal lines to indicate the maximum and minimum price values over a specified time period.Customization options include:
Also recommended: high n indicator - similar script with strong performance on MetaTrader 4.
- Upper Lines: Display lines for high prices.
- Bottom Lines: Display lines for low prices.
- Draw Hour's Lines: Operates on the one-hour timeframe (H1).
- Bars on Hour Timeframe: Define the number of hours to consider.
- Draw Day's Lines: Operates on the one-day timeframe (D1).
- Bars on Day Timeframe: Define the number of days to consider.
- Draw Week's Lines: Operates on the one-week timeframe (W1).
- Bars on Week Timeframe: Define the number of weeks to consider.
You may also like: order information indicator - excellent alternative for script users on MetaTrader 4.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.20"
#property strict
#property script_show_inputs
input bool up=true;//upper lines
input bool down=true;//bottom lines
input bool h=true;//draw hour's lines
input int h_b= 24;//bars on hour timeframe
input bool d = true;//draw day's lines.......
⚠ 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.