The Larry Williams Swing High/Low indicator for Metatrader 5 is designed to identify the most significant swing high and low levels within the overall market trend.
Once these levels are determined, the indicator marks them with blue-colored circles positioned above and below the swing high and low points.
The swing high level represents a resistance level, while the swing low level represents a support level.
How to use it properly?
- A price breakout above the swing high level generates a buy signal.
- A price breakout below the swing low level generates a sell signal.
- In an uptrend, the swing low level can be utilized for stop loss placement (below entry price).
- In a downtrend, the swing high level can be utilized for stop loss placement (above entry price).
Make yourself familiar with this swing indicator and test it first on a practice account for an extended period.
The Larry Williams Swing High/Low indicator can be applied to any trading instrument supported by the MT5 trading platform.
Configurable parameters and input settings: ignore inside bars (true, false), style.
Free Download
larrywilliams_minmax.mq5 Indicator (MT5)
Chart Example
The following image shows what the Larry Williams Swing High/Low indicator looks like when applied to the MT5 chart.
How To Buy And Sell Currency Pairs Utilizing The Larry Williams Swing High/Low Indicator?
Find a simple trading example below:
Buy Signal
- A buy signal occurs when the candle closes above the previous swing high level.
- Open a buy trade and place a stop order below the most recent swing low level.
- Exit the buy trade for a risk to reward ratio of 1.5 or higher.
Sell Signal
- A sell signal occurs when the candle closes below the previous swing low level.
- Open a sell trade and place a stop order above the most recent swing high level.
- Exit the sell trade for a risk to reward ratio of 1.5 or higher.
