Recent High/Low Alert MetaTrader indicator displays two bands of maximum and minimum levels across recent N candles. By default, the maximum band is displayed with a blue line; the minimum band is displayed with a yellow line.
Additionally, it can play sound alert, invoke a popup alert and send an email alert when the current price (Bid) breaks recent High or Low level. All alerts can be turned off. If you use the email alert feature, do not forget to set the email settings in your MetaTrader platform's options window. The indicator is available for both MT4 and MT5.
N (default = 20) — period value for the recent High/Low levels.
SoundAlert (default = true) — if true, a sound alert will be used when price breaks above or below the High/Low bands.
PopupAlert (default = false) — if true, a native MetaTrader popup alert will be used when price breaks above or below the High/Low bands.
EmailAlert (default = false) — if true, an email message will be sent when price breaks above or below the High/Low bands.
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How to trade with Recent High/Low Alert
This indicator can be used in a number of ways. Recent high or low level can be used as a kind of trailing stop-loss for exiting the positions. Such levels can also be used for entering new positions. Although it may not be strong as primary signals, the breach of the recent extreme level could be a confirmation of some other signal. Configurable notification options make it easier to react to those events.
How to download and install an indicator
In order to install the indicator on your MT4 or MT5 platform, you need to follow these steps:
- Click on the “Download Indicator” button located at the bottom of the screen.
- Save the file to your computer.
- Extract and move the files into the MT5>Indicator folder of the MetaTrader4 software file directory.
- Restart your Metatrader platform.
- Navigate to “Indicators.”
- And select the “Recent High/Low Alert” template to apply it on the chart.
Note: This indicator was developed by a third party. AtoZ Markets does not carry any copyrights over this trading tool.
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