Recent High/Low Alert

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 invoke a popup alert, send an email alert, or issue a notification 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. Same with push-notifications. The indicator is available for both MT4 and MT5.

Input parameters

• N (default = 20) — period value for the recent High/Low levels.

• EnableNativeAlerts (default = false) — if true, a native MetaTrader popup alert will be used when price breaks above or below the High/Low bands.

• EnableEmailAlerts (default = false) — if true, an email message will be sent when price breaks above or below the High/Low bands. Email should be properly configured in MetaTrader via Tools->Options->Email.

• EnablePushAlerts (default = false) — if true, an email message will be sent when price breaks above or below the High/Low bands. Notifications should be properly configured in MetaTrader via Tools->Options->Notifications.

• TriggerCandle (default = Previous) — the candle to issue alerts on: Previous — the most recently closed candle or Current — the yet unfinished candle.

Example and strategy

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.

Download (ver. 1.01, 2022-03-21)

• Recent High/Low Alert for MetaTrader 4 in .zip

• Recent High/Low Alert for MetaTrader 4 in .mq4

• Recent High/Low Alert for MetaTrader 5 in .zip

• Recent High/Low Alert for MetaTrader 5 in .mq5

Discussion

• Warning! If you do not know how to install this indicator, please read the MetaTrader Indicators Tutorial.

• You can open a trading account with any of the MT4 Forex brokers to freely use the presented here indicator for MetaTrader 4. If you want to use an MT5 version of the indicator presented here, you would need to open an account with a broker that offers MetaTrader 5.