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hi/lo mod
Info
The hi/lo mod is a Indicator for MetaTrader 5 that modification was made at that time to allow users to use the indicator in scalping but as well in trending mode. usage is simple :it signals a buy/sell opportunity when the indicator changes color.
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 hi/lo mod
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
modification was made at that time to allow users to use the indicator in scalping but as well in trending mode.
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: pivot point indicator - another powerful indicator for MetaTrader 5 traders.
modification was made at that time to allow users to use the indicator in scalping but as well in trending mode.
Also recommended: normalized moving average slope - similar indicator with strong performance on MetaTrader 5.
usage is simple :it signals a buy/sell opportunity when the indicator changes color.
if using it in that signaling mode, close opposite orders (if opened) on a new signal. recommendations
use it for scalping opportunities when using short calculating periods.
use it for trend assessment when using long calculating periods.
in both cases, use it in combination with some other indicator that can filter out some of the signals of this indicator.
for experts developers - use buffer 2 (3rd buffer) of the indicator for custom calls (simple +1 and -1 states in that buffers).
You may also like: acceleration/deceleration indicator (ac) - excellent alternative for indicator users on MetaTrader 5.
Source Code
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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.