The Highest-Lowest Indicator maps the possible highs and lows of the market, helping traders identify perfect price retracement zones for anticipating buy/sell orders.
Determining precise price swing levels is a crucial task for both scalpers and trend-based traders. Since the price keeps rotating while moving in a direction. So, you can spot the right area to enter means you’re up for a profitable trading career.
The Indicator does this critical task in a quite simple way that makes traders more comfortable finding the ket price levels to trade.
The Highest-Lowest Indicator suits all MT4 timeframes and allows MTF chart analysis for any financial assets you like to trade. We’ve found this indicator extremely effective when applied to major forex currency, stocks, and cryptocurrency charts.
The dual blue-color bands of the indicator show the possible higher and lower boundaries of the price waves based on the current market volatility and past price action activities.
Here, you’re required to be pretty focused on how the price behaviors while meeting the indicator’s dynamic support/resistance areas.
For longs, we’ll target the lower indicator levels. Multiple rejections in the support zone indicate buying opportunities.
Conversely, go short when the price fails to break the upper resistance and rebounds towards the south. In both cases, use the dynamic S/R zones as stop-loss limits for existing orders.
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Buy Signal Generation with Highest-Lowest Indicator
- The price plots multiple rejections at the lower band and starts swinging upwards
- Place SL below the dynamic support zone
- Take profit once the price clearly rebounds from the indicator resistance
Sell Signal Generation with Highest-Lowest Indicator
- The price fails to move above the dynamic resistance and starts declining from the respective zone
- Set the Stop-loss limit above the resistance territory
- Exit sell orders if the price denies breaking below the lower band