The MetaTrader High-Low indicator is a trading tool that tracks the price of any tradable asset and highlights the highest and lowest levels it has reached.
What is a High-Low in MT4?
In this case, high/low refers to the highest/lowest price of an asset that occurs during a certain trading session. This could be yesterday’s high/low or last week’s low/high, or any combination thereof.
These areas (highs/lows), are key arrears for trading because prices can reverse or break earlier highs/lows. Many traders will be able to buy or sell at this level.
To help you highlight and identify the highs/lows of the trading session, the High-Low indicator may be useful. In order to identify any previous highs or lows, you may need to activate the Cycle Separator in MT4.
This indicator is also suitable for novice and experienced traders. It can be used for swing trading, intra-day/inter-day scalping, and swing trading.
How to Trade with the High-Low Indicator
The indicator is not a signal generation tool and can be used to generate buy/sell entries. The screenshot above shows the “buy” signal. This is a good indicator that shows how price reacted at yesterday’s lows. The bullish engulfing candlestick printed after the rejection also indicates a possible uptrend. The indicator is also available as a free download.
Modern Forex traders need to know that the Maximum-Minimum indicator (MT4) is one of their most valuable trading tools. The indicator allows you to predict the price reaction at the highest/lowest level of the day, week or month.