Size Highs and Lows Indicator
Info
The Size Highs and Lows Indicator is a Indicator for MetaTrader 5 that when the volatility of a financial instrument decreases below a certain level, long-, middle-, and short-term strategies may become unprofitable. The duration of this low volatility period is crucial.
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 Size Highs and Lows Indicator
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
When the volatility of a financial instrument decreases below a certain level, long-, middle-, and short-term strategies may become unprofitable.
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: Average Size Bar Indicator - another powerful indicator for MetaTrader 5 traders.
When the volatility of a financial instrument decreases below a certain level, long-, middle-, and short-term strategies may become unprofitable.Also recommended: New Highs-New Lows Index - similar indicator with strong performance on MetaTrader 5.
The duration of this low volatility period is crucial. During these times, you can employ scalper strategies based on hourly volatility. To identify market patterns, you'll need the right tools.
The Size Highs and Lows indicator is designed to display the magnitude of highs and lows over a specified period, calculated similarly to the indicator.
Fig. 1. Size Highs and Lows Indicator
The histogram values above 0 represent the size of highs, with bullish bars in yellow and bearish bars in brown.
Histogram values below 0 indicate the size of lows, where bearish bars are light green and bullish bars are green.
Fig. 2. Size Highs and Lows + Break Lag ATR Indicators
In the figure above, you can observe that increased volatility often persists for a while after a volatility breakdown. This is an opportune moment to utilize a scalper robot. The key is to identify the patterns.
Input Parameters:
This indicator has two input parameters (periods):
You may also like: Candle Size Indicator - excellent alternative for indicator users on MetaTrader 5.
Source Code
#property copyright "robotfx"
#property link "https://robotfx.org"
#property description "this code is educational. feel free to use, modify and upgrade as you wish. visit robotfx.org for professional trading tools"
#property version "1.00"
#property indicator_separate_window
#property indicator_buffers 6
#property indicator_plots 6
#property indicator_type1 draw_histogram
#property indicator_type2 draw_histogram
#property indicator_type3 draw_line.......
⚠ 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.