The Swing High & Low Forex indicator for Metatrader 4 identifies swing high and low points and draws them on the chart.
In essence, the indicator will assist you in taking informed buy and sell trade decisions.
- A red arrow represents a swing high level.
- A blue arrow represents a swing low level.
The indicator is very reliable, lightweight, and will not slow down your trading platform.
Indicator Example Chart (EUR/USD M5)
How to trade with it (example)?
Consider to open a buy trade as soon as price closes above the previous swing high price (red arrow) and the overall trend is upwards.
Consider to open a sell trade as soon as price closes below the previous swing low price (blue arrow) and the overall trend is downwards.
Use your own trading strategy to exit the trade.
Utilize a tight stop loss.
Feel free to use your own favorite trading method to open and close trades with the Swing High And Low Forex indicator.
Trading Platform: Developed for Metatrader 4 (MT4)
Currency pairs: Works for any pair
Time frames: Works for any time frame
Input Parameters: Right strength, left strength, stair step, color settings & style
Indicator type: support & resistance
Repaint? Does not repaint the swing high and low arrows.
Open the Metatrader 4 platform
From the top menu, click on “File”
Then click on “Open Data Folder”
Then double click with your mouse button on “MQL4”
Now double click on “Indicators”
Paste the AdventFX_SwingH_L.ex4 indicator in the Indicators folder.
Finally restart the MT4 platform and attach the indicator to any chart.
How to remove the indicator?
Click with your right mouse button in the chart with the indicator attached onto it.
Select “Indicator List” from the drop down menu.
Select the indicator and press delete.
How to edit the indicator’s inputs and parameters?
Right click with your mouse button in the chart with the indicator attached onto it.
From the drop down menu, click on indicators list.
Select the indicator from the list and press edit.
Now you can edit the indicator.
Finally, press the OK button to save the updated configuration.