Technical Indicators for MetaTrader 5
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MetaTrader 5
Top Rated Products MT5
Overview
This Indicator is based on the high's moving average and the low's moving average for trend following and/or trailing stops.
How does the indicator work?
The indicator plots the uptrend dots until there is a close below the moving average of the lows. When this happens, a downtrend begins and is plotted until there is a close above the moving average of the highs. When this happens, another uptrend begins. And so it goes.
How to use it?
- Trend following: You can use it as buy signals when the dots change from a downtrend to an uptrend. And also as a sell signal when the dots change from an uptrend to a downtrend.
- Trailing stop: You can use it to trail your stop loss order and secure profits.
Notice:
- Different periods of the HiLo work better on different pairs/stocks and timeframes. Experiment and find what suits you best!
- The dot can change between uptrend and downtrend while the bar is still open. So a signal is valid once the current bar closes and a new bar opens. Hence, for trailing stops based on the HiLo indicator not to get triggered until the trend changes, and so maximize your profits, you can exit the trade or tighten your stop loss order only when a bar closes reverting the dots.
Features you can edit to your preference:
- Period of moving average for the highs and lows.
- Type of moving average.
- Shift of moving average.
- Color and size of the uptrend dots. - Color and size of the downtrend dots.
> NEW FEATURES ADDED:
Now you can be notified as the dots changes direction. Great for when you're not looking at the chart!
- Enable Push Notification on your smartphone
- Enable Pop-up Alert on your MetaTrader
- Enable Sound Alarm on your MetaTrader
