Custom High and Low Levels with Offset and Period
Info
The Custom High and Low Levels with Offset and Period is a Indicator for MetaTrader 5 that this indicator identifies high and low levels with customizable offset options. You can specify the interval (period_d1) for searching these levels.
Usage
This tool is typically used for enhancing chart analysis and decision making.
Platform
This Indicator works exclusively on MetaTrader 5 (both build 600+ and newer versions).
Setup
Place the downloaded file in MQL5/Indicators folder via File ? Open Data Folder in MetaTrader 5.
How to Install and Use Custom High and Low Levels with Offset and 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
This indicator identifies high and low levels with customizable offset options.
Typical Use Case
This Indicator excels in automated trading and technical analysis on MetaTrader 5.
Compatible Platform & Setup
This Indicator works on MetaTrader 5. Place the file in the MQL5/Indicators folder and restart the terminal.
Description & Settings
Related: Session Time Highlighter for MT4/MT5 - another powerful indicator for MetaTrader 5 traders.
This indicator identifies high and low levels with customizable offset options.Also recommended: HTF Candles (ICT Power of Three): Higher Timeframe Candles Displayed - similar indicator with strong performance on MetaTrader 5.
You can specify the interval (period_d1) for searching these levels.The input parameter "count day" determines the reference day: a value of "0" or "1" signifies the current day.
Indicator Settings:
- Levels: Define custom high and low levels.
- Offset: Specify an offset value for the levels.
- Period (period_d1): Set the trading period for level calculation.
- Count Day: Use "0" or "1" for the current day.
You may also like: Session Range Breakout: Asia, London, and New York High/Low Levels - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.002"
#property indicator_chart_window
#property indicator_plots 0
sinput string _0_="*-*-*-*-*-*"; // global parameters
input int shift_high = 10;
input int shift_low = -10;
input uchar count_day=3; // count day "0" -> current day
sinput string _1_="*-*-*-*-*-*"; // high level parameters.......
⚠ 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.