All key levels in the palm of your hand. High and low in trading The indicator connects the high and low of each candle

Is it necessarily profitable trading strategy to make money in the Forex market should be based on a variety of indicators? Not at all! Highest Open trading system Lowest Open suggests that it is enough to carefully monitor price movements in the market and make money on them without using auxiliary tools. However, it should be borne in mind that the main condition for successful trading on this non-indicator Forex strategy is the trader's strict adherence to discipline and a number of rules.

Characteristics of a trading strategy.

The Highest Open Lowest Open has the following features:

• - currency instruments: any, but better with a little;
• - time frame: two time periods H1 + M5 are used;
• - trading time: you should start analyzing the market at 8 am New York time (16:00 Moscow time).
• - recommended brokers: Alpari, RoboForex, Forex4you and AForex.

Preparing to work on the strategy.

The strategy is based on 2 prerequisites:

• - there are always zigzag price movements on the market;
• - almost everyone has tails.

So, keeping these two truths in mind, a trader can learn to take profits from the market. How? You will understand this by reading the rules of strategies below.

To work on the Highest Open Lowest Open strategy, you need to open the chart of the selected one and prepare it. In our example, this is a chart of the GBPUSD currency pair with a one hour time frame. For the convenience of working with it, you need to set the period separators. This is done by pressing the Ctrl + Y key combination in the MT4 trading terminal. Vertical lines will appear, delimiting the days (click to enlarge):

Rice. 1. Preparing a schedule for work - setting period separators.

Then we mark the highest and lowest High / Low points of the previous and the current day (red lines on screen 2), focusing on the highs and lows of the candlesticks' shadows. Further, for the current day, mark the highest and lowest points of the opening of hourly candles (green lines). Exactly the opening points, not the high and low of the candle! The location of these points can be corrected during the day, as the price changes, and this is normal:

Rice. 2. Marking of High / Low points and high / low candlestick openings.

You can apply the markup yourself, or you can use the auxiliary indicator smHiLoOpen_Lines, which displays on the chart:

• - the minimum and maximum of the previous day;
• - the lowest and highest open of the previous day;
• - the opening point of the current day;
• - current points High and Low;
• - opening levels from different time frames.

Also, when this indicator is loaded, a text panel will be displayed on the chart, where you can find information about the local computer time, server time and GMT time. It also displays the size of the spread, and information about how much time is left until the candle closes. If you do not need some parameters, you can hide them in the indicator settings when installing it on the chart:

Rice. 3. View of the smHiLoOpen_Lines.mq4 indicator on the chart.

You can download the smHiLoOpen_Lines.mq4 indicator from the link below:

Download indikator-smhiloopen-lines.rar(Downloads: 193)

After downloading the archive, unpack it and copy the file from the \ MQL4 \ Indicators \ folder to the corresponding folder of your terminal data directory. You can learn more about installing indicators in the trading terminal data catalog.

Trading rules for the Highest Open Lowest Open strategy.

Considering the possibility of buying according to the Highest Open Lowest Open strategy is possible when the price goes beyond the lower level (the lowest open of the current day's candle), and then returns to it. When the price breaks through the lower line, you can set a Buy Stop, which will be triggered in the event of a price reversal. You can also place a market order. It should be noted that for buy deals, when placing an order, you must specify the Ask price, which differs from the Bid price by the size of the spread. Therefore, it will be slightly below the minimum opening level.

A sell deal will be executed according to the same principle: the price goes beyond the upper border (the uppermost point of the candlestick opening in the current day), at the same time, a Sell Stop order is placed inside, bounded by green lines, at this level. Or it will be possible to open a market order when the price reversals and approaches the channel border.

In order to be sure that the price really broke through the level and was above / below it, you need to switch to a smaller time frame (M5 is the most suitable, you can also use M15 or M1) and analyze it. If a candlestick closes above the set border on a chart with a shorter time frame, then with the opening of a new candlestick, you can sell at this border. The same is for purchases: if the candlestick on M5 closes below the level, then an order is placed on it, which is activated by the price after a reversal and another reaching this level. It is also necessary to comply with the condition that the opening price of a deal should not be higher than the maximum of the current day for sell deals, and lower than the minimum for buy deals.

For trades, it will be set beyond the daily high / low. As for the take profit, the profit is taken in small portions. It is recommended to exit the trade when TP 10 pips is reached, while, after the price passes the distance of 5 points in the positive zone, the deal should be tightened by the stop loss through each point. It is possible to transfer a trade to breakeven even when the price overcomes a distance of 10 points, and at a distance of 5 points.

Examples of deals by strategy.

Let's consider an example of a situation when all the conditions for opening a deal on the Highest Open Lowest Open Forex strategy were met. On screenshot 3, with a blue vertical line, we marked a candle corresponding to 16:00 Moscow time, after which it would be possible to look for an opportunity to enter the market. The red horizontal lines mark the High and Low points of the current day, and the green lines mark the highest and lowest opening points of the candlestick:

Rice. 4. An example of a sell trade using a strategy.

After the marked candle, we see that the price of the beginning of the movement is above the highest opening level, which is to look for an opportunity to enter the market. To confirm the signal, we go to the M5 time frame and wait for the candlestick to close above the green level, but below the red one. Such a close has occurred, which means that you can place a pending buy order at the marked level of the candle's upper close:

Rice. 5. Entering a sell trade according to the Highest Open Lowest Open strategy.

The stop loss for the order is set beyond the high of the current day, and the trader determines the option for taking profit for himself. In our case, if a trailing stop were used, the trade would have earned more than 30 pips in profit.

Additional trading rules.

To work effectively on the Highest Open Lowest Open Forex strategy, it is recommended to observe the specified time schedule. The fact is that the emphasis in the system is made on the fact that price highs and lows are set at, and they work out during the American session. However, you can try the system at another time, more convenient for you, and evaluate its effectiveness.

Why were the Highs and Lows of the previous day marked? When they are broken, you need to be more careful, since the price can go far from them, depriving the trader of earnings.

The Highest Open Lowest Open strategy allows opening several trades in one hour, since the opening and closing levels can change. Since the strategy is applicable to many currency instruments and several entries are possible during the day for one currency pair, then more than 1% for one transaction. Nobody has canceled the money management rules yet!

To trade on financial market any trader must operate with basic concepts, without which a correct market analysis is impossible. These terms include, for example, price levels, support and resistance, and others. Equally important are the values High and Low used to determine price behavior.

They are often used in many indicators, and in candlestick analysis, the ratio of high, low and candle body length determines the length of the shadows, which suggests how the market will develop in the future. Despite this, many traders do not know what these concepts mean and how they can benefit from this knowledge. In this article, we will take a closer look at what High and Low are, and what information they carry.

What are High and Low

The names High and Low speak for themselves:

• High is the highest point or maximum of some value;
• Low is the lowest point or minimum of a certain value.

Since the price is the main quantity in trading, these concepts reflect the high and low values ​​that the market reached over a certain period of time. On a candlestick chart, the high is the highest point of the candle's upper shadow, and the low is the lowest point of the lower shadow.

The high and low formed by the price can be found not only on the candlestick chart, but also on the bar chart. True, Japanese candlesticks remain more visual for visual perception.

When we look, for example, at the H1 candlestick, we do not know how many approaches the market made during an hour to the high value, perhaps only one, but it is possible that 2-4. How does this matter for trading? This information may be useful for traders who pay attention to testing price levels and from the number of market approaches to the boundary, they decide what to do next.

High and low on binary options can refer not only to a specific candle / bar, but also to any period of time. Traders often use high and low:

• one candle / bar;
• the whole day (determine the maximum and minimum prices of the past trading day considering them as important price levels);
• a period consisting of 20-30 candles of the timeframe used for trading (to determine the last, most significant price levels).

Why do you need high and low

What information about price behavior can a trader extract from the High and Low? First of all, these values ​​are important for determining the volatility of a currency pair within a time period. Fluctuations in a currency will be viewed as the distance in points from the highest to the lowest point that the price has reached.

The farther the High is from the Low, the more volatile the currency pair is, of course, in order to draw conclusions, it is necessary to analyze not one candlestick, but a certain amount that allows us to talk about statistics.

In addition, the values ​​of the high and low prices are used to find the most important price levels formed on the chart, because hi (low) this is the pivot point of the market. Let me remind you that the growth (decline) of the market stops and is replaced by the opposite price movement in the case when the price "stumbles" on a significant amount of opposite positions. Thus, significant volumes remain at the high and low points, which "dissipate" over time (I recommend reading how the price level is formed).

Differences between highs and lows on different charts

There is nothing difficult in determining the maximum and minimum prices, it is enough to select these indicators for a specific time interval and display them graphically. If we are talking about the hourly price chart, then the high and low of the hour are evaluated, if about the minute - one minute. However, with the definition of daily extremes and their display, the situation is somewhat different. The reason is the fact that brokers use trading terminals different time.

If a trader calculates daily high and low independently, focusing on the data of your time zone, they will differ from those that can be seen in the terminal. This will apply to daily values, since hourly and minute extremes do not depend on the location of the trader, these time intervals are the same for any geographic point.

Using signals, analytics and other information based on the daily high and low of the market binary options, be careful, make sure that the information source has the same terminal time as your trading platform. Otherwise, there is a high probability of misinterpretation of the information received.

Reading time: 6 minutes

Sometimes simplicity is strength.

This is especially true if you are new to the analysis and trading of the Forex and CFD markets.

There are several modern tools out there, but their complexity can often be a hindrance to their use.

If you are new to Forex trading, you are probably looking for easy-to-use tools.

A useful tool that meets these requirements is.

Simply put, High Low indicator

1. displays horizontal lines on the chart that
2. represent a high and low price for a certain period.

Why is the High Low indicator useful?

Because it has to do with how we process information.

For most people, information is easier to digest when presented visually.

In fact, it is for this reason that we use in the first place.

Without the High-Low indicator, we would need to compare daily highs and lows with recent trading ranges by looking at the raw numbers:

It would be tiresome at best.

The High Low indicator displays daily highs and lows as horizontal lines, so you can see at a glance how the current day is coming up in the context of the latest market indicators.

If you have never traded with this indicator, you are probably still using the original version of the MetaTrader 4 platform.

The High Low indicator comes bundled with (MT4SE).

What it is?

Among other things, the High-Low indicator is just one of the many additional indicators and tools offered by the MT4SE plugin.

High Low indicator - what is its importance

First, let's talk about how the High-Low MT4 indicator can improve the quality of your trading.

One of the most widely used methods for assessing price movement is comparing current highs and lows with previous ones.

This method is a bit dated, but its main advantage lies in how widely it is used by other traders.

For example, if the current high is below the recent highs, it could cause other traders to view the current trading price as cheap.

In turn, this can create buying pressure and lead to higher prices.

Likewise, if the low is higher than recent lows, it can attract sellers to the market.

After that, he can reduce prices.

This is basically how the levels are formed.

Of course, the market is less predictable and therefore may not always react in this way.

Nevertheless, using the High-Low indicator is a good starting point for predicting price movements.

The High-Low indicator is also very easy to use.

This simplicity means that even beginners can learn how to use it in no time.

So, if you want to get additional features of MetaTrader 4, but don't know where to start:

Below we will talk about some of the MT4SE features.

For now, let's take a look at how to use the High-Low indicator.

Using the MT4 High Low indicator

After installing MT4SE, you will be able to see all additional indicators listed in the Navigator on the left.

From there, launching the High-Low indicator will be just a couple of clicks.

When you run it, a window will appear indicating the various variables used by the indicator.

The tool may seem simplistic at first, but it also offers a high degree of flexibility:

Because you can change any of the listed indicator variables.

These variables include:

1. Timeframes for Highs and Lows
2. whether to start from the current or previous bar
3. number of bars to include
4. daily time range
5. line color and style
6. offsets for expansion from maximum to minimum
7. alert settings.

If you're happy with the defaults, click OK.

The indicator will be applied to your chart at the same time.

The picture above shows the daily EUR / USD chart with the high and low of the current day.

Can you see how easy it is to compare the current day's range with the latest market figures?

Changing variables in the High-Low indicator settings

When it comes to customizing the High-Low indicator for your needs, there are no limits.

Some of the changes are pretty trivial and straightforward, like changing the color of the lines.

But some changes are less obvious, such as changes to a variable.

It's a very simple process - you just need to double-click on the corresponding field when you first add the indicator.

Alternatively, you can change the indicator you have already added:

1. go to the "Charts" tab
2. select a list of indicators
3. select Admiral High-Low
4. click "Change".

For example, in the image above, I:

1. Double clicked on the field next to the timeframe for highs and lows
2. changed the value to W1.

The default value corresponds to the chart timeframe.

By changing the value to W1, I switched the timeframe to weekly.

Setting up alerts in the High-Low Forex indicator

Another useful feature is the ability to set alerts for a price that crosses a high or low line.

What is the advantage?

Alerts let you know when a key level is violated, even if you are working on a different chart.

In addition, you can customize the alerts to your liking, for example by setting them as text or sound.

Summing Up: Forex High Low MT4 Indicator

In this article, we have tried to explain that the High-Low indicator:

1. is a simple and easy-to-use trading tool that
2. allows you to quickly compare the high and low of a specific period with the latest market ranges, and
3. this is good way start exploring the powerful toolkit provided in the MT4SE plugin, such as proven indicators such as Donchian channels and Keltner channels.

As with other indicators, the High-Low indicator will probably work best when combined with other tools:

Which you can practice for free at.

Continue your Forex training

About us: Admiral Markets

As a regulated broker, we provide access to the most popular trading platforms in the world. You can trade CFDs, Stocks and ETFs with us.

Forex based strategy Japanese candles"High Low"- another simple but effective trading system for Forex. The time scale used is daily (D1), the currency pair is any of your choice. We do not install any indicators on the chart. Trading time - end / start of a trading day (day). The given time may differ for different Forex brokers, you can always check this on the official website broker.

Algorithm for trading Forex strategy based on Japanese candlesticks “High Low”:
1) Watches a new candlestick after the start of a new trading day. If the price has broken the High (maximum) or Low (minimum) of yesterday's (previous) candlestick, open in the direction where the breakout took place (High - Low).

2) If you do not have time and / or desire to sit at the monitor for a long time, you can place 2 pending orders - buy-stop at the High of the previous candle and sell-stop at its Low. Stop Loss for each order is set at the opposite end of the candlestick (that is, for buy-stop it will be the Low level, and for sell-stop - High). Take profit, if you don’t monitor an open position, it is better to put in the size of the previous candlestick (with shadows), approximately from 100 points.

More preferable is the option to personally observe the open position, since pending orders do not allow you to quickly respond to current situation on the market, but also does not take up your time.

3) As soon as the order is triggered, 2 options are possible: uncertainty in the market or a trend movement. With a strong movement, Stop Loss must be rearranged to breakeven after reaching a profit of 20-30 points or more (the higher the average volatility of a currency pair, the greater the profit must be in order to rearrange a stop order). If the strong movement continues, we methodically move the stop order further or use the trailing stop.

In case of uncertainty and the absence of a pronounced movement of the currency pair - 1. use a trailing stop (from 30 points) 2. change to zero and just squeeze out.

At the close of the day, if trade orders are not closed, you can place new ones both for the current one and for others currency pairs- if the deposit allows.

The only drawback of the “High Low” Forex strategy is the presence of large candles (200-300 points each), which increases the loss in case of triggering the stop loss. This is solved by correct money management - for example, trading on a cent account with the minimum lot. In this case, you can work with several currency pairs at once.

Example strategy High Low ... GBPUSD, D1.

At the end of the trading day, we monitor the market situation (new candle 25.07.2011), set 2 pending orders - buy stop and sell stop. The price went up - the buy stop was triggered at the level of 1.6165. Remove sell stop and watch further.

When the price moves up by 30 points, we pull up the stop order to breakeven (zero), after which we set a trailing stop of 30 points.

The position should close at about 1.6302, bringing us profit of 137 pips.

Remember that the profitability of trading very much depends on

MetaTrader Indicator Recent High / Low Alert- displays two lines - high and low levels on the last N bars. By default, the high line is shown in blue and the low line is shown in yellow. Also, the indicator can play a sound file, trigger a pop-up notification and send an email message when the current price breaks through the levels of the recent highs or lows. All notifications can be turned off. If you plan to use email notification, then the relevant data must be entered in the settings window of your MetaTrader platform. The indicator is available for both MT4 and MT5.

Input parameters:

• N(default = 20) - period value to find the recent high / low.
• SoundAlert(default = true) - if true, then when the levels are broken, a sound signal will be given.
• PopupAlert true, then when the levels are broken through, the built-in notification mechanism of the MetaTrader platform will be used.
• EmailAlert(default = false) - if true, then when the levels are broken, an e-mail will be sent.

This indicator can be used in several ways. The level of the recent high or low can serve as a kind of trailing stop loss for existing positions. Such levels can also be used to open new positions. The breakout of the recent extreme level itself is not a strong signal, but it can serve as a confirmation of other signals. Customizable notification options help you respond to these events in a timely manner.