This indicator exists for MT4 plots past, daily, weekly, and monthly low and high levels on a chart. It also plots the pivot lines throughout time based on your preference. The rectangle on the chart is then an indication of daily, monthly, or weekly chart areas. Hence, it helps the traders define a bullish or bearish trend within different time frames and make it compatible with different technical trading strategies. In addition, this facilitates the traders to identify buy and sell entry and exit points for trading.
What is MTF High Low Indicator?
MT4 High low indicator represents a daily weekly monthly high low indicator for the MT4 platform that plots Pivot points. Except for MT4 previous day high low, this indicator represents several indicators in one such as:
- Yesterday high and low indicator MT4
- Weekly high and low indicator MT4
- Monthly high and low indicator MT4
- Swing high low indicator MT4
- Pivot point indicator
This indicator works best for advanced and rookie traders. However, this indicator works for many timeframes and is also easy to download and install besides being free.
Download Daily Weekly Monthly High Low Indicator for the MT4:
MTF high low indicator for MT4 trading setup
In a GBPUSD weekly chart, when the MTF high low indicator for MT4 is in action, it will represent all the high and low points along with pivot lines on the chart. Hence, enabling the pivot traders to find the trend in higher timeframes and find Buy and Sell indications in the lower time frame chart. The most profitable buy and sell points are the highs and lows in the higher timeframe. Therefore, you should assess all the crucial indications from this indicator and then use it judiciously in technical trading strategies.
This MTF high low indicator for MT4 provides brief snapshots of various timeframes to a forex trading market and its players. Hence, assisting traders efficiently in bullish and bearish markets. This is a free indicator to download and install.