The Higher Highs & Lower Lows signal indicator for Metatrader 5 finds solid trade opportunities based on higher highs and lower lows found in the Forex market.
The indicator transforms this technical information into an easy-to-use buy/sell technical tool.
It appears as colored clouds in a separate chart window underneath the activity chart.
How to identify buy & sell trade opportunities with this indicator?
- A green colored cloud indicates a bullish trend.
- A red colored cloud indicates a bearish trend.
The indicator contains the following inputs and parameters: period (20), style, and colors.
Make yourself familiar with this technical indicator and test it first on a demo account.
Remember to have realistic expectations, performance will vary depending on market conditions (trending markets, sideways markets, etc.).
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Higher Highs & Lower Lows.mq5 Indicator (MT5)
Chart Example
The following chart shows how the Higher Highs & Lower Lows Forex signal indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs With The Higher Highs & Lower Lows Forex Signal Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal is given when the green colored cloud is displayed on the chart.
- Open a buy transaction and place your stop loss slightly below the previous swing low area.
- Close the buy trade for a risk/reward ratio of 1:2, or wait for the red colored cloud.
Sell Signal
- A sell signal is given when the red colored cloud is displayed on the chart.
- Open a sell transaction and place your stop loss slightly above the previous swing high area.
- Close the sell trade for a risk/reward ratio of 1:2, or wait for the green colored cloud.
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Higher Highs & Lower Lows.mq5 Indicator (MT5)
Frequently Asked Questions
How Do I Install This Custom Indicator On Metatrader 5?
- Open the MT5 trading platform
- Click on the File menu button located at the top left part of the platform
- Click on Open Data Folder > MQL5 folder > Indicators
- Copy the Higher Highs & Lower Lows.mq5 indicator file in the Indicators folder
- Close and restart the trading platform
- You will find the indicator here (Navigator window > Indicators)
- Drag the indicator to the chart to get started with it!
How Do I Edit This Indicator?
- Click in the open chart with your right mouse button
- In the dropdown menu, click on Indicator List
- Select the indicator and click on properties
- Now you can edit the inputs, colors, levels, scale and visualization
- Finally click the OK button to save the new configuration
