recent high/low alert mt5
Info
The recent high/low alert mt5 is a Indicator for MetaTrader 5 that input parameters n(default = 20) — period value for the recent high/low levels. enablenativealerts(default = false) — if true, a native metatrader popup alert will be used when price breaks above or below the high/low bands.
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 recent high/low alert mt5
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
input parameters n(default = 20) — period value for the recent high/low levels.
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: Composite High/Low Momentum Indicator (HLM) - another powerful indicator for MetaTrader 5 traders.
input parametersn
(default = 20) — period value for the recent high/low levels.
Also recommended: ma c d high/low - similar indicator with strong performance on MetaTrader 5.
enablenativealerts
(default = false) — if true, a native metatrader popup alert will be used when price breaks above or below the high/low bands.
triggercandle
(default = previous) — the candle to issue alerts on: previous — the most recently closed candle or current — the yet unfinished candle. this indicator can be used in a number of ways. recent high or low level can be used as a kind of trailing stop-loss for exiting the positions. such levels can also be used for entering new positions. although it may not be strong as primary signals, the breach of the recent extreme level could be a confirmation of some other signal. configurable notification options make it easier to react to those events.
You may also like: ma c d high/low mt f - excellent alternative for indicator users on MetaTrader 5.
Source Code
яю//+------------------------------------------------------------------+
#property copyright "RobotFX"
#property link "https://robotfx.org"
#property version "1.01"
#property description "Educational code - RobotFX www.robotfx.org"
#property description "Educational code - RobotFX www.robotfx.org"
#property indicator_chart_window
#property indicator_buffers 2
#property indicator_plots 2
#property indicator_color1 clrDodgerBlue.......
⚠ 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.