peak lines by price histogram
Info
The peak lines by price histogram is a Indicator for MetaTrader 5 that this indicator shows the support/resistance lines using price histogram. the indicator is not so heavy, the calculation was simplified.
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 peak lines by price histogram
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 shows the support/resistance lines using price histogram.
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: true open and power of 3 (po3) lines - another powerful indicator for MetaTrader 5 traders.
this indicator shows the support/resistance lines using price histogram. the indicator is not so heavy, the calculation was simplified.
Also recommended: trading with ma trends, atr, tp, sl, and pivot point lines - similar indicator with strong performance on MetaTrader 5.
display:gold line — peaks of a 1-day histogram.
red line — peaks of a short term histogram.
magenta line — peaks of a medium term histogram.
blue line — peaks of a long term histogram.
settings:
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property version "1.00"
#property indicator_chart_window
#property indicator_buffers 32
#property indicator_plots 8
#property indicator_type1 draw_arrow
#property indicator_type2 draw_arrow
#property indicator_type3 draw_arrow
#property indicator_type4 draw_arrow.......
⚠ 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.