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Indicators

HiLo - indicator for MetaTrader 5

Leandro Souza
Published by:
Leandro de Araujo Souza
Views:
5863
Rating:
(6)
Published:
2024.08.23 16:59
HiLo.mq5 (3.3 KB) view
Download as ZIP, How to download code from MetaEditor
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HiLo

The High and Low Line Indicator is a straightforward yet powerful tool designed to plot the highest and lowest price levels of a selected symbol directly on the chart. This indicator allows traders to visually identify key support and resistance levels, which can be crucial in making informed trading decisions.

Use Cases:

  • Identifying Support and Resistance: The high and low lines often act as natural support and resistance levels, providing clear points for entry, exit, or stop-loss placement.

  • Breakout Trading: Monitor when the price breaks above the high line or falls below the low line, which can signal potential breakout opportunities.


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