Without the High-Low indicator, we would need to compare the day's high and low to recent trading ranges, by looking at raw numbers:. High-Low indicator plots the day's high and low as horizontal lines, so you can immediately see how low current day fits in the context of the market's recent performance.
If you have never traded with this indicator, you are probably still using the original version of the MetaTrader 4 platform. Well among other things, the High-Low indicator is just one of many extra indicators and tools offered by the MT4SE plugin.
One of the most widely used methods of assessing price movements, is comparing current highs and lows to previous ones. This method is a bit rudimentary, but its main benefit lies in how widely it is used by other traders. For example, if the current high is lower than recent highs, this may cause other high to view the current trading price as cheap.
Of course, the market is less predictable than that and may therefore not always react in this way. Nonetheless, using the High-Low indicator is a good starting point for predicting price movements. So, if you're looking to get that additional value out of MetaTrader 4, but don't know where to high. Once you install MT4SE, you can see all the additional indicators listed in the Navigator on the left side.
Some changes in input values are fairly trivial and self-explanatory e. It is a very simple process - you just need to double-click on the relevant box low you first add the indicator.
Another useful feature is the ability to set alerts for the price that is crossing the high or low line. The alert lets you know when a key level is breached, even if you are working on a different chart. As with other indicators, the High-Low indicator will probably work best in conjunction with other tools:. Trading foreign exchange or contracts for differences on margin carries a high level of risk, and may not be suitable for all investors. There is a possibility that you may sustain a loss equal to or greater than your entire investment.
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