extreme highs and lows with tick prices
Info
The extreme highs and lows with tick prices is a Indicator for MetaTrader 5 that an indicator to mark extremums with lines. a period input is used to determine highest highs and lowest lows for that period.
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 extreme highs and lows with tick prices
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
an indicator to mark extremums with lines.
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: Bands Stoch RSI Extreme Reversal Signals - another powerful indicator for MetaTrader 5 traders.
an indicator to mark extremums with lines. a period input is used to determine highest highs and lowest lows for that period. in this indicator, it's not only highs and lows (ohlc) which are used in the analysis, but also bid and ask prices from each bar. a lookback figure is used to limit the processing to a specific number of bars.
Also recommended: Size Highs and Lows Indicator - similar indicator with strong performance on MetaTrader 5.
another feature in this indicator is to not paint on break of structure areas (breaking of the current perceived higher high or lower low) by forcing sections of the lines to vanish during those periods. this way it will only display lines on actual support and resistance areas. that feature is controlled by an input, so if you prefer, it will display lines on the extreme prices as well as display sloping of the lines when the market is trending up or down.----------------------------------------------------
- it uses an optimization where only the ticks from the current bar will be accounted for, and this will mean that the indicator can run seamlessly on higher timeframes
- removed unneeded buffers
You may also like: New Highs-New Lows Index - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version "2.00"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_plots 2
#property indicator_label1 "Extreme highs"
#property indicator_type1 DRAW_LINE
#property indicator_color1 clrChartreuse
#property indicator_style1 STYLE_SOLID.......
⚠ 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.