The Lowest Low Bars indicator for Metatrader 5 is a user-friendly tool designed to notify you when the market price reaches a specific value that you set in advance.
The indicator appears as a red colored line that can be adjusted vertically by clicking and dragging with your mouse.
Simply position the red price alert line at your desired price alert level.
You have the flexibility to adjust the following indicator variables and parameters: level search period, starting bar, level color, line style, and trigger level.
Before using this technical indicator in a live trading environment, we recommend familiarizing yourself with its functionality and conducting thorough testing on a demo account.
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lowest_low_value.mq5 Indicator (MT5)
Chart Example
The picture below shows what the Lowest Low Bars Forex indicator looks like when applied to the MT5 chart.
How To Buy And Sell Forex Pairs Utilizing The Lowest Low Bars Indicator?
The indicator itself doesn’t generate any buy or sell trading signals.
We suggest combining it with an existing trading strategy or other technical indicators capable of generating buy and sell signals.
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lowest_low_value.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 lowest_low_value.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