Nonetheless, remember about having realistic expectations. A good forex indicator will most probably enhance your chance of success.
The MT4 MTF High Low indicator is well worth adding to your trading collection. In the Navigator find the gauge name, right-click it and select Attach to the chart. Now go to the left side of your MT4 terminal. You can gain access to this folder by clicking the top menu options, which goes as follows:įile > Open Data Folder > MQL4 > Indicators (paste here). How to set up the MTF High Low indicator in MetaTrader (MT4)?ĭownload the MTF High Low.rar archive at the bottom of this post, unpack it, then copy and paste the MTF High Low.ex4 or MTF High Low.mq4 indicator files into the MQL4 folder of the Metatrader 4 trading platform. That level acts as the resistance level and the price rejected it forming three soldiers bearish pattern. In the example below, one can see how the price reacts to the previous weekly high level. In that case, the resistance level became the support level.
There is a Doji candle that touched the level only once and then upward impuls occurred. In the example below, one can see how the price reacts to the previous monthly high level. Each level has its own label, so one quickly can recognize it. When you load up the indicator in your MT4 platform, you will see a couple of horizontal lines that reflect important market levels including monthly hig and low, weekly high and low, previous monthly high and low, previous weekly high and low, previous daily high and low. Closer look on the MTF High Low Indicator Feel free to experiment with the settings and parameters to fit your personal preferences. The default settings can be modified directly from the input tab. It is displayed directly on the main trading chart.
The MTF High Low Indicator fits all kinds of timeframes and currency pairs. These levels are often respected as market turning points, thus traders can take advantage of trading at them.
The MTF High Low Indicator MT4 is responsible for drawing high and low levels of previous and current daily, weekly, and monthly periods. Introduction to the MTF High Low Indicator
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