The Hi-Low Indicator is a popular and useful forex indicator for the MT4 platform. This free indicator helps traders identify the high and low points of a currency pair over a certain period of time. It is particularly valuable for determining support and resistance levels, as well as potential entry and exit points for trades. The indicator works by calculating the highest high and lowest low prices within a specified time frame, and then displaying these levels on the chart. Traders can use this information to make informed trading decisions based on market trends and price action. To use the Hi-Low Indicator effectively, traders can adjust the settings to customize the time frame and other parameters to suit their trading strategy. By incorporating this indicator into their analysis, traders can gain a better understanding of price movements and improve their overall trading performance.
MT4
Hi Low Indicator
The Hi Low Indicator is a useful forex indicator for MT4 that shows the high and low prices over a specific period. It is a popular tool among traders for identifying potential support and resistance levels. This free indicator can be used to set stop loss and take profit levels, as well as to gauge market trends.
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How to Install
How install MT4/5 indicator in the terminal?
To install an MT4/5 indicator in the terminal, follow these steps:
Download the indicator file (.ex4 or .mq4/.ex5 or .mq5) to your computer.
Open the MT4/5 terminal and click on “File” in the top left corner.
Select “Open Data Folder” from the dropdown menu.
In the window that opens, double-click on the “MQL4/5” folder.
Double-click on the “Indicators” folder.
Drag and drop the indicator file from your computer into the “Indicators” folder.
Close the data folder window and restart the MT4/5 terminal.
The indicator should now be available in the “Navigator” window on the left-hand side of the terminal. Simply double-click on the indicator to add it to a chart.
Note: If the indicator is in a .zip file, you will need to extract it first before following the above steps.
And if asks to confirm DLL?
If the indicator you are installing requires access to external Dynamic Link Libraries (DLLs), you may see a pop-up message asking you to confirm the use of DLLs.
DLLs are external libraries that contain code that can be used by other programs. In the case of MT4/5 indicators, they are often used to perform complex calculations or connect to external data sources.
If you trust the source of the indicator and want to use it, click “Yes” to confirm the use of DLLs. If you are not sure or do not trust the source, click “No” to cancel the installation.
It’s worth noting that some indicators may not work properly without access to their required DLLs. If you choose not to allow access to DLLs and the indicator does not work as expected, you may need to reinstall the indicator and confirm the use of DLLs to get it to work properly.
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